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Article
Publication date: 1 December 1998

A. Gunasekaram, S.K. Goyal, T. MArtikainen and P. Yli‐Olli

This paper deals with total quality management (TQM) with an emphasis on developing suitable strategies for improving quality and productivity in manufacturing systems. In…

Abstract

This paper deals with total quality management (TQM) with an emphasis on developing suitable strategies for improving quality and productivity in manufacturing systems. In recent years, TQM has been seen as an important strategy for achieving success in business both in terms of quality and productivity. However, there seem to be no clear strategic framework and guide‐lines for implementing TQM in manufacturing in the light of available advanced production concepts and technologies. A review of previous implementation approaches of TQM in practice has been presented in order to gain further insights into the implementation aspects of TQM. The main objective of this paper is to present a general framework for the development of TQM in manufacturing organizations considering the recent developments in production concepts and technologies and competitiveness among firms to utilize quality as a competitive weapon.

Details

International Journal of Quality & Reliability Management, vol. 15 no. 8/9
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 1 June 1999

Ralf Östermark and Jaana Aaltonen

The paper is presented in two parts. The first is concerned with the methodology of the competing transformation models and the second details the results of the empirical…

Abstract

The paper is presented in two parts. The first is concerned with the methodology of the competing transformation models and the second details the results of the empirical tests. In particular, it concentrates on empirical testing of the stability and cross‐sectional invariance of the factor patterns underlying the arbitrage pricing models of two neighbouring security markets. In previous studies, the method of transformation analysis has been used to address these issues at the individual asset level. In the present study three alternative transformation analysis models are used to study the stability and invariance problems. The tests are carried out at an aggregated level, such that subsets of asset returns are combined in equally weighted portfolios in the spirit of Fama and MacBeth. Portfolio formation is motivated by the observed anomalies of individual asset return series. Even if some anomalies may be present on the aggregated level also, their impact will be weaker. The amount of different issues of the same company in the database is varied in order to study the impact of parallel issues on the empirical results.

Details

Kybernetes, vol. 28 no. 4
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 1 April 2000

Ralf Östermark

Provides evidence on the power of transfer function noise modelling in explaining the empirical connection between endogenous and exogenous (control) variables in linear…

Abstract

Provides evidence on the power of transfer function noise modelling in explaining the empirical connection between endogenous and exogenous (control) variables in linear regression type input‐output systems. The multiple input transfer function noise model – of specific value when the input variables are collinear – is used to demonstrate the connection between macroeconomic forces and stock market pricing on a thin security market. Shows that the transfer function approach provides new evidence partly in conflict with previous results obtained by ordinary least squares methodology. Previous empirical evidence suggests that money supply, inflation, the level of industrial production and the psychological impact of the general index of the Stockholm Stock Exchange affects Finnish stock pricing. The problem of selecting relevant economic state variables is tackled by regressing each of the five factor time series obtained from testing the arbitrage pricing theory (see Östermark, circa 1989) on the set of tentative state variables. The economic state variables are significant explanators of stock pricing, both at the market and at the individual asset level. Only nine individual stocks are tested. Comprehensive testing of all individual stocks is left for future research.

Details

Kybernetes, vol. 29 no. 3
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 1 December 1993

S.K. Goyal, A. Gunasekaran, T. Martikainen and P. Yli‐Olli

Presents a mathematical model for determining Economic ProductionQuantity (EPQ) in a multistage flow‐shop production system for the casewhere the demand for items per unit…

Abstract

Presents a mathematical model for determining Economic Production Quantity (EPQ) in a multistage flow‐shop production system for the case where the demand for items per unit time is deterministic and the planning horizon is finite. Solves an example problem to illustrate the model.

Details

International Journal of Operations & Production Management, vol. 13 no. 12
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 1 June 1992

A. Gunasekaran, S.K. Goyal, T. Martikainen and P. Yli‐Olli

In any organization, the information relevant to the problem areais essential in making decisions. The top management makes decisionslike expansion of the plant…

Abstract

In any organization, the information relevant to the problem area is essential in making decisions. The top management makes decisions like expansion of the plant, automation, recruitment of senior personnel and diversification of products, etc. There are many kinds of tools or methods available to analyse these problem areas. Among these, turnover rate is useful for many purposes, especially in evaluating the performance of an organization. Here, the turnover rate is considered in order to identify the effect of the number of types of products or product mix on the performance of a manufacturing system. It can be defined as the ratio of average demand to average inventory level. The model presented discusses the effect of the number of products/product mix on the turnover rate of a production system when the appropriate market value of the products is considered. The turnover rate discussed is based on the economic production quantity (EPQ) and the manufacturing cycle time of each product. An example is presented to explain the application of the model.

Details

International Journal of Operations & Production Management, vol. 12 no. 6
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 1 June 2002

Robert D. Hisrich and Mateja Drnovsek

Interest in the field of entrepreneurship has significantly increased among academics, practitioners and government officials in the past decade both in the USA and in…

Abstract

Interest in the field of entrepreneurship has significantly increased among academics, practitioners and government officials in the past decade both in the USA and in Europe. The increased interest is reflected in the increased number of courses, majors and minors at colleges and universities throughout the world; the increased number of endowed chairs; the increased number of journals in the field; the increased coverage of the field by the media; and the increased interest in the provision of government support. In light of this significant increased interest, it is important to understand the state of research in the field in Europe in the last few years, the focus of this article.

Details

Journal of Small Business and Enterprise Development, vol. 9 no. 2
Type: Research Article
ISSN: 1462-6004

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Article
Publication date: 1 August 1995

Ralf Östermark

Considers the modelling of dynamic systems using biased regression and spectral methods. Provides evidence on the power of transfer function modelling for unravelling the…

Abstract

Considers the modelling of dynamic systems using biased regression and spectral methods. Provides evidence on the power of transfer function modelling for unravelling the empirical connection between endogenous and exogenous (control) variables in both regression type and spectral input‐output systems. The Multiple Input Transfer Function Noise Model – of specific value when the input variables are collinear – has previously been used to demonstrate the connection between macroeconomic forces and stock market pricing on a thin security market. Compares the adequacy of representative time and frequency domain algorithms for modelling observed data series. The estimations are done with the combined Transfer Function and Cartesian ARIMA Search algorithm of Östermark and Höglund and the CAPM/APM programs of Östermark.

Details

Kybernetes, vol. 24 no. 6
Type: Research Article
ISSN: 0368-492X

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Book part
Publication date: 14 May 2003

Jonathan L Gifford

Abstract

Details

Flexible Urban Transportation
Type: Book
ISBN: 978-0-08-050656-2

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Book part
Publication date: 14 May 2003

Jonathan L Gifford

Abstract

Details

Flexible Urban Transportation
Type: Book
ISBN: 978-0-08-050656-2

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Article
Publication date: 25 October 2011

Elisa García Jara, Amparo Cuadrado Ebrero and Rolando Eslava Zapata

This paper aims to analyze the quality of financial information using financial and economic ratios, assessing if the quality is affected by financial reporting standards…

Abstract

Purpose

This paper aims to analyze the quality of financial information using financial and economic ratios, assessing if the quality is affected by financial reporting standards. A group of factors that allow proving of the capacity of ratios to measure accounting information quality – and thus facilitating the analysis process to the groups of users – is also determined.

Design/methodology/approach

Using a sample of 111 companies from the Madrid Stock Exchange and 32 from Eurostoxx50, descriptive analysis and non‐parametric variance analysis were carried out during the period 2005‐2007. At the same time, reduction data techniques, specifically principal components analysis (PCA), were performed to detect the underlying main factors for the year 2007.

Findings

There is an indication that financial information quality is affected by financial reporting standards. Additionally, there is a group of factors that show an alternative to analyze accounting information.

Practical implications

This study provides evidence to measure financial information quality and the results can be beneficial to accounting users, as well as contributing to the literature related to this topic.

Originality/value

Empirically, this study shows that accounting information is affected by financial reporting standards.

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