A real-time production scheduling method for semiconductor back-end manufacturing process becomes increasingly important in industry 4.0. Semiconductor back-end manufacturing…
Abstract
Purpose
A real-time production scheduling method for semiconductor back-end manufacturing process becomes increasingly important in industry 4.0. Semiconductor back-end manufacturing process is always accompanied by order splitting and merging; besides, in each stage of the process, there are always multiple machine groups that have different production capabilities and capacities. This paper studies a multi-agent based scheduling architecture for the radio frequency identification (RFID)-enabled semiconductor back-end shopfloor, which integrates not only manufacturing resources but also human factors.
Design/methodology/approach
The architecture includes a task management (TM) agent, a staff instruction (SI) agent, a task scheduling (TS) agent, an information management center (IMC), machine group (MG) agent and a production monitoring (PM) agent. Then, based on the architecture, the authors developed a scheduling method consisting of capability & capacity planning and machine configuration modules in the TS agent.
Findings
The authors used greedy policy to assign each order to the appropriate machine groups based on the real-time utilization ration of each MG in the capability & capacity (C&C) planning module, and used a partial swarm optimization (PSO) algorithm to schedule each splitting job to the identified machine based on the C&C planning results. At last, we conducted a case study to demonstrate the proposed multi-agent based real-time production scheduling models and methods.
Originality/value
This paper proposes a multi-agent based real-time scheduling framework for semiconductor back-end industry. A C&C planning and a machine configuration algorithm are developed, respectively. The paper provides a feasible solution for semiconductor back-end manufacturing process to realize real-time scheduling.
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The purpose of this paper is to address the opposing views of the relationship between directors’ and officers’ liability insurance (D&O insurance) and stock price crash risk in a…
Abstract
Purpose
The purpose of this paper is to address the opposing views of the relationship between directors’ and officers’ liability insurance (D&O insurance) and stock price crash risk in a major Asian emerging stock market.
Design/methodology/approach
This paper finds an endogenous relationship between D&O insurance and stock price crash risk. Hence, the two-stage least squares regression analysis is used to address the endogeneity issue when the relationship is examined. Moreover, this paper further controls the quality of other corporate governance mechanisms to investigate whether D&O insurance still has an effect on stock price crash risk.
Findings
The effect of D&O insurance coverage is significantly negatively related to firm-specific stock price crash risk in Taiwan. More importantly, even when the quality of other corporate governance mechanisms is controlled, the negative relationship between D&O insurance coverage and firm-specific stock price crash risk remains significant. The evidence supports that D&O insurance serves as an effective external monitoring mechanism, strengthens corporate governance, and thus reduces stock price crash risk.
Originality/value
Emerging Asian markets suffer a dearth of research on the relationship of D&O insurance coverage and the firm-specific stock price crash risk. Investigating the relationship in Taiwan, the present study fills the research void. The findings show that D&O insurance plays an important role in reducing stock price crash risk of Taiwanese firms even when other corporate governance mechanisms are in place.
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Asis Kumar Sahu and Byomakesh Debata
This study examines the impact of firm-level climate risk exposure (FCRE) on firm stock liquidity by using a sample of Indian-listed firms from the financial years 2003–2004 to…
Abstract
Purpose
This study examines the impact of firm-level climate risk exposure (FCRE) on firm stock liquidity by using a sample of Indian-listed firms from the financial years 2003–2004 to 2022–2023. Further, it endeavors to investigate the moderating role of environmental, social and governance (ESG) disclosure in this relationship.
Design/methodology/approach
A novel text-based FCRE metric is introduced using a sophisticated Word2Vec model through a Python-generated algorithm for each firm and year based on the management discussions and analysis (MD&A) reports. The panel fixed effect model is used to study how FCRE affects stock liquidity.
Findings
The result shows that FCRE negatively affects firms’ stock liquidity, and the effect remains robust after addressing endogeneity concerns. In addition, we find that a high ESG disclosure rating significantly moderated the adverse effect of FCRE. Furthermore, our analysis reveals that investor sentiment, information quality, corporate life cycle and institutional holdings moderate the impact of FCRE on liquidity.
Practical implications
The study offers valuable insights for investors, managers and policymakers on integrating climate risk into investment strategies, improving corporate climate governance and shaping policies that incentivize sustainable corporate behavior.
Originality/value
To the best of our knowledge, this study is an early study to explore the relationship between firm-specific climate risk exposure and stock liquidity using advanced machine learning techniques. It contributes to the existing literature by illustrating how climate risk can lead to adverse market reactions while highlighting the critical roles of corporate ESG practices, investor sentiment and disclosure quality in influencing this relationship.
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Kittisak Makkawan and Thanyaphat Muangpan
Autonomous ports and digital ports are a modern trend of global commercial ports that are established to develop toward smart ports in many ports. Smart port indicators (SPIs) are…
Abstract
Autonomous ports and digital ports are a modern trend of global commercial ports that are established to develop toward smart ports in many ports. Smart port indicators (SPIs) are used as important tools for measuring, encouraging, and indicating smart port performance. These are the main indicators to operate smart port management as the practical direction and port development planning are enclosed. This research aims to identify the SPIs and to develop a conceptual model of smart port performance in a case study of The Eastern Economic Corridor (EEC) in Thailand. Triangulation data are used in the data collection with three sources: the reviewed literature of five international databases in 2016–2021, participant observations, and in-depth interviews. Content analysis is utilized to analyze these data to develop a conceptual model approach. The findings of this research are shown in three main domains classified as smart port operation, smart port environment/energy, and smart port safety/security. These indicators represent 29 SPIs for developing smart port performance, which can be explained with a conceptual model. This information will exist as the foundation framework guiding Thai smart ports towards international standards of smart port efficiency.
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Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model…
Abstract
Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model innovation, plays an important role in elevating the standing of Shanghai Port as a container hub port and in developing China (Shanghai) Pilot Free Trade Zone. From the three dominant transfer service models, the waterway-waterway transfer for container logistics of Taicang Express Line has the traits and experience in streamlining logistics processes, innovating logistics clearance models, saving logistics operating costs, offering port logistics cooperation experience for replications and promoting integration of regional port logistics resources. However, it also harbors issues in infrastructure construction, staffing, container resources allocation and transportation, transportation efficiency and policy innovation. In the future, efforts should be invested to strengthening the construction and staffing of port logistics infrastructure, optimizing the container resources allocation and transport of port logistics systems, improving the logistics transportation efficiency of Taicang Express Line, and pushing forward innovation of the synergistic policy mechanism for regional port logistics.
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Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model…
Abstract
Developing waterway-waterway transfer is an important path for Shanghai's container logistics to innovate service models. Taicang Express Line, a typical case of service model innovation, plays an important role in elevating the standing of Shanghai Port as a container hub port and in developing China (Shanghai) Pilot Free Trade Zone. From the three dominant transfer service models, the waterway-waterway transfer for container logistics of Taicang Express Line has the traits and experience in streamlining logistics processes, innovating logistics clearance models, saving logistics operating costs, offering port logistics cooperation experience for replications and promoting integration of regional port logistics resources. However, it also harbors issues in infrastructure construction, staffing, container resources allocation and transportation, transportation efficiency and policy innovation. In the future, efforts should be invested to strengthening the construction and staffing of port logistics infrastructure, optimizing the container resources allocation and transport of port logistics systems, improving the logistics transportation efficiency of Taicang Express Line, and pushing forward innovation of the synergistic policy mechanism for regional port logistics.
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Chengyun Liu, Kun Su and Miaomiao Zhang
This study aims to examine whether and how gender diversity on corporate boards is associated with voluntary nonfinancial disclosures, particularly water disclosures.
Abstract
Purpose
This study aims to examine whether and how gender diversity on corporate boards is associated with voluntary nonfinancial disclosures, particularly water disclosures.
Design/methodology/approach
This study uses corporate water information disclosure data from Chinese listed firms between 2010 and 2018 to conduct regression analyses to examine the association between female directors and water information disclosure.
Findings
Empirical results show that female directors have a significantly positive association with corporate water information disclosure. Additionally, internal industry water sensitivity of firms moderates this significant relationship.
Originality/value
This study determined that female directors can promote not only water disclosure but also positive corporate water performance, reflecting the consistency of words and deeds of female directors in voluntary nonfinancial disclosures.
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Chaonan Tang, Zhisong Chen and Jianhui Peng
With the growing economic impact of e-commerce and the increasing trend of omnichannel mode, more considerate services can be provided to customers. This paper aims to explore the…
Abstract
Purpose
With the growing economic impact of e-commerce and the increasing trend of omnichannel mode, more considerate services can be provided to customers. This paper aims to explore the optimal practice of business strategies and enrich the research content of marine tourism omnichannel.
Design/methodology/approach
This paper studies the optimal practice of bundling pricing and service effort strategies between two tourism suppliers (TSs) and a travel agent (TA) who distributes complementary products in marine tourism omnichannel considering joint efforts of both sides. This study develops five models by Stackelberg and Nash game and introduces the revenue-sharing contract. All outcomes/results are analyzed and the corresponding numerical and sensitivity analyses are conducted to derive more managerial implications and business insights.
Findings
The main findings show that bundling price is directly proportional to inter-channel integration coefficient and service effort level coefficient, and inversely proportional to the price elasticity coefficient. TA tends to provide a higher level of service effort than TSs when TA plays a dominant role. Improving the service effort level unduly leads to a decline in profits. Moreover, TSs and TA can reach a win-win situation under the coordination mechanism and the marine tourism omnichannel can achieve the best performance.
Originality/value
A novel and useful approach towards joint equilibrium decisions of bundle pricing and service efforts in marine tourism omnichannel with complementary tourism products under different operational strategies is proposed.
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Engaged employees assure organizational competitiveness and sustainability. The purpose of this study is to explore the relationship between job resources and employee turnover…
Abstract
Purpose
Engaged employees assure organizational competitiveness and sustainability. The purpose of this study is to explore the relationship between job resources and employee turnover intentions, with employee engagement as a mediating variable.
Design/methodology/approach
Data were collected from 934 employees of eight wholly-owned pharmaceutical industries. The proposed model and hypotheses were evaluated using structural equation modeling. Construct reliability and validity was established through confirmatory factor analysis.
Findings
Data supported the hypothesized relationship. The results show that job autonomy and employee engagement were significantly associated. Supervisory support and employee engagement were significantly associated. However, performance feedback and employee engagement were nonsignificantly associated. Employee engagement had a significant influence on employee turnover intentions. The results further show that employee engagement mediates the association between job resources and employee turnover intentions.
Research limitations/implications
The generalizability of the findings will be constrained due to the research’s pharmaceutical industry focus and cross-sectional data.
Practical implications
The study’s findings will serve as valuable pointers for stakeholders and decision-makers in the pharmacuetical industry to develop a proactive and well-articulated employee engagement intervention to ensure organizational effectiveness, innovativeness and competitiveness.
Originality/value
By empirically demonstrating that employee engagement mediates the nexus of job resources and employee turnover intentions, the study adds to the corpus of literature.
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After the COVID-19 outbreak, the Federal Reserve has undertaken several monetary policies to alleviate the pandemic consequences on the stock markets leading to a misunderstanding…
Abstract
Purpose
After the COVID-19 outbreak, the Federal Reserve has undertaken several monetary policies to alleviate the pandemic consequences on the stock markets leading to a misunderstanding on the cryptocurrency market response. This paper aims to evaluate the effects of the Federal Reserve monetary policy on the Islamic and conventional cryptocurrency dynamics during the COVID-19 pandemic. We, specifically, examine the associate bubbles and feedbacks effects.
Design/methodology/approach
This paper developed a novel methodology that detects market bubbles using the statistical indicators defined by Psychological (PSY) tests. It also investigated the effect of the Federal Open Market Committee (FOMC) announcements on conventional and Islamic cryptocurrencies compatible with Islamic laws “Shari’ah” by using the event-driven regression.
Findings
The empirical results show that the FOMC announcements have a positive significant effect after one day of the event and a negative effect before two days of the announcement on the conventional cryptocurrency markets. However, the reaction of Islamic cryptocurrencies to these events is not significant except for Hello Gold after one day of the announcement. Besides, the Hello Gold and X8X cryptocurrencies present no bubbles during this period. However, Bitcoin and Ethereum markets have short-lived bubbles.
Research limitations/implications
The main contribution of this study is the investigation of the response and vulnerability to pandemic shocks of a new category of cryptocurrencies backed by tangible assets. This work has practical implications as it provides new insights into trading opportunities and market reactions.
Originality/value
To our knowledge, this work is the first study that compares the response of Islamic and conventional cryptocurrency markets to FOMC announcements during the COVID-19 pandemic and examines the presence of bubbles in these markets. Besides, the originality of this work is derived from the novelty of the data employed and the method used (PSY tests) in this study.