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1 – 10 of 11Peter Ghattas, Teerooven Soobaroyen, Shahzad Uddin and Oliver Marnet
This paper analyses the establishment and evolution of a public oversight body (POB) – the Egyptian Audit Oversight Unit (AOU) – and its implications for local auditing firms and…
Abstract
Purpose
This paper analyses the establishment and evolution of a public oversight body (POB) – the Egyptian Audit Oversight Unit (AOU) – and its implications for local auditing firms and practices.
Design/methodology/approach
Primary data were gathered from 34 semi-structured interviews (including follow-up ones) between 2014 and 2020. Secondary data was obtained through publicly available documents and internal memos. Drawing on Debord's (1967) Society of the Spectacle, the insights focus on the POB's conception, materialisation and evolution in a context characterised by weak regulatory structures.
Findings
Through a series of acts, the findings reveal how the AOU first accepted the image of “international best practice” oversight (the “metaphorical”), followed by the construction of the local structure and décor replicating a United States (US) style POB archetype (the “transformational”) by primarily relying on visible processes/procedures. Yet, these mechanisms emphasised the spectacular nature of oversight, with little improvement for practice and limiting itself to “cracking down” on smaller local firms. A final stage (the “performative”) reveals how the AOU seeks to expand its activities beyond its original mandate without challenging the image-driven nature of its oversight.
Originality/value
The paper offers two key contributions. First, it reveals how actors, through a combination of symbolic and tangible measures, create a new performative reality of public oversight. Second, it advocates Debord's “spectacle” to complement other theoretical lenses, with a view to illuminating the materialisation stages that bridge the gap between proclaimed oversight policies and actual practices (including conscious and unconscious omissions) within a given political economy context.
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Abubaker Shagluf, Simon Parkinson, Andrew Peter Longstaff and Simon Fletcher
The purpose of this paper is to produce a decision support aid for machine tool owners to utilise while deciding upon a maintenance strategy. Furthermore, the decision support…
Abstract
Purpose
The purpose of this paper is to produce a decision support aid for machine tool owners to utilise while deciding upon a maintenance strategy. Furthermore, the decision support tool is adaptive and capable of suggesting different strategies by monitoring for any change in machine tool manufacturing accuracy.
Design/methodology/approach
A maintenance cost estimation model is utilised within the research and development of this decision support system (DSS). An empirical-based methodology is pursued and validated through case study analysis.
Findings
A case study is provided where a schedule of preventative maintenance actions is produced to reduce the need for the future occurrences of reactive maintenance actions based on historical machine tool accuracy information. In the case study, a 28 per cent reduction in predicted accuracy-related expenditure is presented, equating to a saving of £14k per machine over a five year period.
Research limitations/implications
The emphasis on improving machine tool accuracy and reducing production costs is increasing. The presented research is pioneering in the development of a software-based tool to help reduce the requirement on domain-specific expert knowledge.
Originality/value
The paper presents an adaptive DSS to assist with maintenance strategy selection. This is the first of its kind and is able to suggest a preventative strategy for those undertaking only reactive maintenance. This is of value for both manufacturers and researchers alike. Manufacturers will benefit from reducing maintenance costs, and researchers will benefit from the development and application of a novel decision support technique.
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John Ammer, Fang Cai and Chiara Scotti
Emerging-market (EM) assets have historically been regarded as inherently risky and particularly vulnerable to international shocks that result in a general increase in investor…
Abstract
Emerging-market (EM) assets have historically been regarded as inherently risky and particularly vulnerable to international shocks that result in a general increase in investor risk perceptions. In this chapter, we assess the ongoing relevance of this view by examining the linkages between EM and non-EM stock and bond markets in the past two decades, with a focus on how these relationships played out during the global financial crisis of 2007–2009. We evaluate how these linkages have evolved over the period 1992–2009, through statistical tests of whether the volatility of EM financial markets changed – either in their response to international shocks originating in advanced-economy markets or in their independent fluctuations.
We find that over a longer period EM, bond and stock prices have on average moved in the same direction as the prices of non-EM risky assets, and this co-movement has persisted. However, these relationships have evolved somewhat over time. Both EM sensitivity to international shocks and EM-specific volatility in EM sovereign-bond spreads appear to have decreased over time, consistent with the greater fundamental stability of EM economies and perhaps a reduced inclination by investors to sell off EM assets in response to a rise in risk perceptions. Somewhat in contrast, while an upward trend in co-variation between EM and non-EM stock prices suggests an increasing degree of global market integration, idiosyncratic volatility has declined, consistent with a diminished level of locally driven risk in these markets.
In addition, the response of EM asset prices to the latest financial crisis appears to be moderate in comparison to historical experience. This evidence may reflect reduced EM vulnerability to external shocks in general, which is consistent with some encouraging improvements in the underlying fundamentals of EM economies over the decade preceding the onset of the crisis.
The purpose of this paper is to review the literature on maintenance management and suggest possible gaps from the point of view of researchers and practitioners.
Abstract
Purpose
The purpose of this paper is to review the literature on maintenance management and suggest possible gaps from the point of view of researchers and practitioners.
Design/methodology/approach
The paper systematically categorizes the published literature and then analyzes and reviews it methodically.
Findings
The paper finds that important issues in maintenance management range from various optimization models, maintenance techniques, scheduling, and information systems etc. Within each category, gaps have been identified. A new shift in maintenance paradigm is also highlighted.
Practical implications
Literature on classification of maintenance management has so far been very limited. This paper reviews a large number of papers in this field and suggests a classification in to various areas and sub areas. Subsequently, various emerging trends in the field of maintenance management are identified to help researchers specifying gaps in the literature and direct research efforts suitably.
Originality/value
The paper contains a comprehensive listing of publications on the field in question and their classification according to various attributes. The paper will be useful to researchers, maintenance professionals and others concerned with maintenance to understand the importance of maintenance management
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Peter Dawson, Jack Brink, Alireza Farrokhi, Fengman Jia and Derek Lichti
Designing and implementing effective strategies for managing heritage resources throughout the world has become critically important as the impacts of climate change and…
Abstract
Purpose
Designing and implementing effective strategies for managing heritage resources throughout the world has become critically important as the impacts of climate change and human-caused destruction are increasingly felt. Of particular importance is the ability to identify and track fast- and slow-moving processes associated with weathering, erosion and the movement or removal of heritage objects by natural and human agents. In this paper, the authors demonstrate how 3D laser scanning can be used to detect and monitor changes to the Okotoks Erratic “Big Rock” Provincial Historic Resource in Alberta, Canada, over a period of 7 years.
Design/methodology/approach
Terrestrial laser scanning surveys of the Okotoks Erratic “Big Rock” Provincial Historic Resource were undertaken in 2013, 2016 and 2020. Registration was used to place the three epochs of point clouds into a unique datum for comparison using the cloud-to-cloud distance function in Cloud Compare.
Findings
The movement/repositioning of rocks around the base of the erratic, the emergence of “unofficial” paths and changes to interpretive trails and fencing were all identified at the site over the time period of the study.
Practical implications
Current conservation at the Okotoks Big Rock focus primarily on the rock art panels that are scattered over the erratic. The results of this study indicate they should be broadened so that the geological integrity of the site, which is intrinsically linked to its cultural value, can also be maintained.
Originality/value
This is the first study the authors are aware of that utilizes terrestrial laser scanning + change detection analysis to identify and track changes to a heritage site over a period as long as 7 years.
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Beichuan Yan and Richard Regueiro
The purpose of this paper is to extend complex-shaped discrete element method simulations from a few thousand particles to millions of particles by using parallel computing on…
Abstract
Purpose
The purpose of this paper is to extend complex-shaped discrete element method simulations from a few thousand particles to millions of particles by using parallel computing on department of defense (DoD) supercomputers and to study the mechanical response of particle assemblies composed of a large number of particles in engineering practice and laboratory tests.
Design/methodology/approach
Parallel algorithm is designed and implemented with advanced features such as link-block, border layer and migration layer, adaptive compute gridding technique and message passing interface (MPI) transmission of C++ objects and pointers, for high performance optimization; performance analyses are conducted across five orders of magnitude of simulation scale on multiple DoD supercomputers; and three full-scale simulations of sand pluviation, constrained collapse and particle shape effect are carried out to study mechanical response of particle assemblies.
Findings
The parallel algorithm and implementation exhibit high speedup and excellent scalability, communication time is a decreasing function of the number of compute nodes and optimal computational granularity for each simulation scale is given. Nearly 50 per cent of wall clock time is spent on rebound phenomenon at the top of particle assembly in dynamic simulation of sand gravitational pluviation. Numerous particles are necessary to capture the pattern and shape of particle assembly in collapse tests; preliminary comparison between sphere assembly and ellipsoid assembly indicates a significant influence of particle shape on kinematic, kinetic and static behavior of particle assemblies.
Originality/value
The high-performance parallel code enables the simulation of a wide range of dynamic and static laboratory and field tests in engineering applications that involve a large number of granular and geotechnical material grains, such as sand pluviation process, buried explosion in various soils, earth penetrator interaction with soil, influence of grain size, shape and gradation on packing density and shear strength and mechanical behavior under different gravity environments such as on the Moon and Mars.
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Beichuan Yan and Richard Regueiro
This paper aims to present performance comparison between O(n2) and O(n) neighbor search algorithms, studies their effects for different particle shape complexity and…
Abstract
Purpose
This paper aims to present performance comparison between O(n2) and O(n) neighbor search algorithms, studies their effects for different particle shape complexity and computational granularity (CG) and investigates the influence on superlinear speedup of 3D discrete element method (DEM) for complex-shaped particles. In particular, it aims to answer the question: O(n2) or O(n) neighbor search algorithm, which performs better in parallel 3D DEM computational practice?
Design/methodology/approach
The O(n2) and O(n) neighbor search algorithms are carefully implemented in the code paraEllip3d, which is executed on the Department of Defense supercomputers across five orders of magnitude of simulation scale (2,500; 12,000; 150,000; 1 million and 10 million particles) to evaluate and compare the performance, using both strong and weak scaling measurements.
Findings
The more complex the particle shapes (from sphere to ellipsoid to poly-ellipsoid), the smaller the neighbor search fraction (NSF); and the lower is the CG, the smaller is the NSF. In both serial and parallel computing of complex-shaped 3D DEM, the O(n2) algorithm is inefficient at coarse CG; however, it executes faster than O(n) algorithm at fine CGs that are mostly used in computational practice to achieve the best performance. This means that O(n2) algorithm outperforms O(n) in parallel 3D DEM generally.
Practical implications
Taking for granted that O(n) outperforms O(n2) unconditionally, complex-shaped 3D DEM is a misconception commonly encountered in the computational engineering and science literature.
Originality/value
The paper clarifies that performance of O(n2) and O(n) neighbor search algorithms for complex-shaped 3D DEM is affected by particle shape complexity and CG. In particular, the O(n2) algorithm outperforms the O(n) algorithm in large-scale parallel 3D DEM simulations generally, even though this outperformance is counterintuitive.
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Hassanudin Mohd Thas Thaker, Mohamed Asmy Mohd Thas Thaker, Muhammad Rizky Prima Sakti, Imtiaz Sifat, Anwar Allah Pitchay and Hafezali Iqbal Hussain
The purpose of this paper is to examine the effect of economic policy uncertainty (EPU) of China on investment opportunities in five ASEAN economies.
Abstract
Purpose
The purpose of this paper is to examine the effect of economic policy uncertainty (EPU) of China on investment opportunities in five ASEAN economies.
Design/methodology/approach
This paper employs advanced empirical approaches, such as Multivariate DCC-GARCH and Continuous Wavelet Transform (CWT) to test the research objective. The period of analysis involved monthly data from 2003 until 2019.
Findings
This paper provides evidence where the Malaysian stock market to be the least exposed to risks emanating from Chinese EPU, followed by Singapore, the Philippines, Thailand and Indonesia. Results for investment opportunities based on time horizon suggest, for a short-term holding period, investors are better off investing in Singapore and Indonesia, while, for medium-term holding periods, all ASEAN markets appear lucrative except for the Philippines.
Practical implications
From a managerial perspective, the outcome or findings of this study are expected to aid the retail and institutional investors in designing better strategies on diversifying a stock portfolio with different holding periods.
Originality/value
Theoretically, the findings of this study contribute fresh insights into an emerging strand of literature focusing on the transmission of regional policy. Methodologically as well, this study is a novel venture to the best of authors' knowledge.
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