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Article
Publication date: 6 July 2015

Reza Janjani

The main objective of this paper is to compare the ability of US-generally accepted accounting principles (GAAP) operating cash flows versus Iran-GAAP operating cash flows…

Abstract

Purpose

The main objective of this paper is to compare the ability of US-generally accepted accounting principles (GAAP) operating cash flows versus Iran-GAAP operating cash flows in predicting future cash flows.

Design/methodology/approach

The sample comprises 240 firms (1,200 firm-years) during the period from 2004 to 2008 for which operating cash flows and other variables are available. Cross-sectional and panel data regression models are used in testing the hypotheses.

Findings

This study finds that operating cash flows based on Iran-GAAP are no more effective in predicting future cash flows than those based on USA-GAAP, and the predictive ability of the model is improved by adding the earnings accrual components to the operating cash flows.

Originality/value

The study suggests that the Iranian accounting standard setting committee recommends that the statement of cash flows be prepared based on the three-category model instead of the five-category model in an attempt to converge with the International Financial Reporting Standards. Consistent with Financial Accounting Standards Board and financial analyst recommendations, the results reveal that earnings are a better predictor than cash flows from operations.

Details

Journal of Financial Reporting and Accounting, vol. 13 no. 1
Type: Research Article
ISSN: 1985-2517

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Article
Publication date: 25 July 2019

S. Khodaygan

The purpose of this paper is to present a novel Kriging meta-model assisted method for multi-objective optimal tolerance design of the mechanical assemblies based on the…

Abstract

Purpose

The purpose of this paper is to present a novel Kriging meta-model assisted method for multi-objective optimal tolerance design of the mechanical assemblies based on the operating conditions under both systematic and random uncertainties.

Design/methodology/approach

In the proposed method, the performance, the quality loss and the manufacturing cost issues are formulated as the main criteria in terms of systematic and random uncertainties. To investigate the mechanical assembly under the operating conditions, the behavior of the assembly can be simulated based on the finite element analysis (FEA). The objective functions in terms of uncertainties at the operating conditions can be modeled through the Kriging-based metamodeling based on the obtained results from the FEA simulations. Then, the optimal tolerance allocation procedure is formulated as a multi-objective optimization framework. For solving the multi conflicting objectives optimization problem, the multi-objective particle swarm optimization method is used. Then, a Shannon’s entropy-based TOPSIS is used for selection of the best tolerances from the optimal Pareto solutions.

Findings

The proposed method can be used for optimal tolerance design of mechanical assemblies in the operating conditions with including both random and systematic uncertainties. To reach an accurate model of the design function at the operating conditions, the Kriging meta-modeling is used. The efficiency of the proposed method by considering a case study is illustrated and the method is verified by comparison to a conventional tolerance allocation method. The obtained results show that using the proposed method can lead to the product with a more robust efficiency in the performance and a higher quality in comparing to the conventional results.

Research limitations/implications

The proposed method is limited to the dimensional tolerances of components with the normal distribution.

Practical implications

The proposed method is practically easy to be automated for computer-aided tolerance design in industrial applications.

Originality/value

In conventional approaches, regardless of systematic and random uncertainties due to operating conditions, tolerances are allocated based on the assembly conditions. As uncertainties can significantly affect the system’s performance at operating conditions, tolerance allocation without including these effects may be inefficient. This paper aims to fill this gap in the literature by considering both systematic and random uncertainties for multi-objective optimal tolerance design of mechanical assemblies under operating conditions.

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Article
Publication date: 29 November 2018

Shaili Singh and Mahua Guha

The purpose of this paper is to study the self and vicarious learning patterns of organizations through operational success and benchmark failure experiences. The study is…

Abstract

Purpose

The purpose of this paper is to study the self and vicarious learning patterns of organizations through operational success and benchmark failure experiences. The study is specific to the Indian telecom sector.

Design/methodology/approach

This study uses published data of four major telecom firms in India reported by Telecom Regulatory Authority of India (TRAI) and analyzed the influence of aspiration performance discrepancy on organizational learning by hypotheses testing. Feasible generalized least square model with year fixed effects is used to run panel data regression.

Findings

In the case of operating experience for performance above aspiration, firms fail to learn from their own experience as well as from others’ experiences. For benchmark failure experience under positive discrepancy, firms learn from their own experience. For performance below aspiration, no significant result was found. These insights allow managers to reconfigure their learning orientation and to develop an effective mechanism for absorbing crucial knowledge from themselves and peer firms.

Practical implications

Practitioners should take into account that their knowledge repertoire is essential for learning in good times. This study also motivates managers involved in operating activities to make use of publicly disclosed reports, engage in vicarious learning or form a coalition for developing coping mechanism under negative discrepancy scenarios.

Originality/value

This paper presents a unique context by studying operational success, and failure experiences of telecom sector in India wherein benchmark for failure was decided by the governing regulatory body, TRAI, unlike other studies where success and failures reference points are intrinsically selected.

Details

Benchmarking: An International Journal, vol. 25 no. 9
Type: Research Article
ISSN: 1463-5771

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Article
Publication date: 24 May 2011

Amik Garg and S.G. Deshmukh

The purpose of this paper is to compare various features of modular repair inventory flow in large maintenance organizations such as the Indian army with those of basic…

Abstract

Purpose

The purpose of this paper is to compare various features of modular repair inventory flow in large maintenance organizations such as the Indian army with those of basic multi‐echelon repair inventory model METRIC.

Design/methodology/approach

Two models are selected and validated with user trials for a period of six months. A few performance measures for multi‐echelon repair inventory systems (MERIS) have also been identified using questionnaires. These two models are compared with the base model using developed performance measures and finally the most preferred model is identified which may replace the existing model. Finally, some recommendations are made for future researchers working in the area of multi‐echelon repair inventory systems.

Findings

The action research (AR)‐based approach has been used to solve a problem which is interactive and aims at developing a holistic understanding. A crisp codification scheme has also been suggested for a multi‐echelon repair inventory environment.

Originality/value

The paper demonstrates identification of inadequacies in the existing model of certain organizations and develops a number of alternate models with the prime objective of reducing the total number of echelons, using an AR‐based approach.

Details

Journal of Advances in Management Research, vol. 8 no. 1
Type: Research Article
ISSN: 0972-7981

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Article
Publication date: 5 March 2018

Le Nhat Hoang Tran, Laurent Gerbaud, Nicolas Retière and Hieu Nguyen Huu

Static converters generate current harmonics in power grids. For numerous studies, analytical frequency modeling is preferred to carry out their harmonic modeling in the…

Abstract

Purpose

Static converters generate current harmonics in power grids. For numerous studies, analytical frequency modeling is preferred to carry out their harmonic modeling in the context of sizing by optimization. However, a design by optimization has to consider other constraints, e.g. modeling constraints and operating constraints. In this way, this paper aims to focus on applying an analytical frequency modeling on the sizing by optimization of an aircraft electrical power channel.

Design/methodology/approach

The paper aims to size a multiphysical system by optimization. In this way, the sizing of an aircraft electrical power channel by optimization has been carried out. The models of all the channel components are analytical. Specifically, the frequency model of the power electronics is based on Tran et al. (2016) and is made of equalities and inequalities. Due to this modeling choice, the optimization satisfies hundreds of constraints, such as modeling constraints and static converter operating constraints. Furthermore, transient constraints are only verified after optimization.

Findings

The difficulty is the modeling of the system by taking into account nonlinear implicit equations having several solutions. A solution is the addition of inequality constraints to the model to guide the implicit solving. Furthermore, this greatly helps the optimization algorithm to find the good operating mode of the static converter, at steady state. This aspect is indispensable to validate the sizing model.

Research limitations/implications

The number of the configurations per operating period of the static converters is defined a priori and limited.

Originality/value

The analytical model for the sizing is formulated as a constrained optimization problem. Its solving and the sizing by optimization are carried out by the same optimization algorithm.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 37 no. 2
Type: Research Article
ISSN: 0332-1649

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Article
Publication date: 31 December 1997

David P. Echevarria

US Companies were widely reported to be investing millions of dollars over the last two decades to upgrade manufacturing and operating facilities to increase…

Abstract

US Companies were widely reported to be investing millions of dollars over the last two decades to upgrade manufacturing and operating facilities to increase competitiveness in the global marketplace. These investments should have resulted in increased profitability. The observed performance of Fortune 500 Industrial companies fell short of these goals.

Details

Studies in Economics and Finance, vol. 18 no. 2
Type: Research Article
ISSN: 1086-7376

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Article
Publication date: 16 February 2012

George W. Blazenko, Andrey D. Pavlov and Freda Eddy‐Sumeke

The purpose of this paper is to compare investment in innovation (e.g. R&D) between new venture start‐ups before commercialization and operating businesses after…

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Abstract

Purpose

The purpose of this paper is to compare investment in innovation (e.g. R&D) between new venture start‐ups before commercialization and operating businesses after commercialization.

Design/methodology/approach

Real options methods were used to model a new venture start‐up as a perpetual call option on an operating business that grows with R&D. The operating business uses R&D to improve actual earnings while the start‐up uses R&D to improve prospective earnings. When the start‐up entrepreneur commercializes his/her new product, device, or service with conventional investment (e.g. plant, property, and equipment to begin production), prospective earnings convert into actual earnings.

Findings

The ability of the start‐up entrepreneur to avoid commercialization costs upon failed R&D makes R&D more valuable to the start‐up entrepreneur than to the manager of the already operating business (for whom commercialization costs are sunk) and despite R&D costs that the start‐up incurs without the revenues that only commercialization generates. The value of R&D to the start‐up can be so great that the entrepreneur invests in R&D before the manager of an otherwise similar operating business in similar business conditions.

Originality/value

Without favoring either a priori, the authors show that under broad circumstances, a new venture start‐up undertakes R&D before an already operating business. The authors also discuss the empirical implications of the results.

Details

International Journal of Managerial Finance, vol. 8 no. 1
Type: Research Article
ISSN: 1743-9132

Keywords

Abstract

Details

Corporate Financial Distress
Type: Book
ISBN: 978-1-83982-981-9

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Article
Publication date: 4 May 2012

Jean‐François Lange, Laurent Gerbaud, Hieu Nguyen‐Huu and James Roudet

An analytical approach is preferred to carry out the harmonic modelling of power electronics converters because it is generally faster than time simulation chained with…

Abstract

Purpose

An analytical approach is preferred to carry out the harmonic modelling of power electronics converters because it is generally faster than time simulation chained with FFT. However, the difficulty of such an approach is to build the model and to manage the uncontrolled commutations that occur in the studied static converter, and also to deal with large equations. The purpose of this paper is to propose an aid in the frequency modelling of the drive elements, in the frequency domain, including all key parameters for sizing aim i.e. a way to optimize the EMC filter using different algorithms.

Design/methodology/approach

The paper aims to propose an aid to create such models, and to assure its good solving, i.e. that the correct operating mode is represented. So, the solving problem is formulated as an optimization problem under constraints, to solve this difficulty.

Findings

The difficulty is to be sure to deal with the good operating mode of the static converter when soft or uncontrolled commutations occur. So, the model is formulated as a constrained optimization problem. The paper proposes a symbolic approach, that allows to build automatically the frequency model. It is translated to be solved in Matlab.

Research limitations/implications

The approach does not fit for static converters with a control implying numerous commutations per operating period. However, the approach deals with natural and soft commutations.

Originality/value

The modelling is based on the use of linear components and ideal switches.

Details

COMPEL - The international journal for computation and mathematics in electrical and electronic engineering, vol. 31 no. 3
Type: Research Article
ISSN: 0332-1649

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Book part
Publication date: 18 July 2016

Kenneth D. Lawrence, Gary Kleinman and Sheila M. Lawrence

The research is directed toward the prediction of operating income within the MetLife Insurance Company. The operating income of the firm is the amount of profit realized…

Abstract

The research is directed toward the prediction of operating income within the MetLife Insurance Company. The operating income of the firm is the amount of profit realized from a firm’s own operation, as opposed to net income. The econometric model is based on 10 years of quarterly data (2004–2014). The explanatory variables used in this modeling effort are (1) stock price, (2) long-term borrowing, (3) capital surplus, (4) free cash flow, (5), S&P average, (6) GDP, and (7) CPI.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-78635-534-8

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