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Article
Publication date: 1 May 1954

Mutual Investigation. There seems to be a refreshing, open breeze blowing through the ranks of time and motion study technicians these days. Gone are the ponderous exponents of…

90

Abstract

Mutual Investigation. There seems to be a refreshing, open breeze blowing through the ranks of time and motion study technicians these days. Gone are the ponderous exponents of the mystic art and, instead, we find the experts vying with each other, almost, in telling their audiences how easy time and motion study really is if you only sit down and think about it.

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Work Study, vol. 3 no. 5
Type: Research Article
ISSN: 0043-8022

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Publication date: 4 October 2018

Pym Manopimoke, Suthawan Prukumpai and Yuthana Sethapramote

This chapter examines dynamic connectedness among emerging Asian equity markets as well as explores their linkages vis-à-vis other major global markets. We find that international…

Abstract

This chapter examines dynamic connectedness among emerging Asian equity markets as well as explores their linkages vis-à-vis other major global markets. We find that international equity markets are tightly integrated. Measuring connectedness based on a generalized Vector Autoregressive (VAR) model, more than half of all total forecast error variance in equity return and volatility shocks come from other markets as opposed to country own shocks. When examining the degree of connectedness over time, we find that international stock markets have become increasingly connected, with a gentle upward trend since the Asian financial crisis (AFC) but with a rapid burst during the global financial crisis (GFC). Despite the growing importance of Asian emerging markets in the world economy, we find that their influence on advanced economies are still relatively small, with no significant increase over time. During the past decade, advanced markets have been consistently net transmitters of shocks while emerging Asian markets act as net receivers. Based on the nature of equity shock spillovers, we also find that advanced countries are still tightly connected among themselves while intraregional connectedness within Asia remains strong. By investigating whether uncertainty plays an important role in explaining the degree of stock market connectedness, we find that economic policy uncertainty (EPU) from the US is an important source of financial shock spillover for the majority of international equity markets. In contrast, US financial market uncertainty as proxied by the VIX index drives equity market spillovers only among advanced economies.

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Banking and Finance Issues in Emerging Markets
Type: Book
ISBN: 978-1-78756-453-4

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Article
Publication date: 1 July 2006

Roland W. Scholz, Daniel J. Lang, Arnim Wiek, Alexander I. Walter and Michael Stauffacher

This paper aims at presenting the theoretical concepts of the transdisciplinary case study approach (TCS), which is a research and teaching approach developed and elaborated at…

5191

Abstract

Purpose

This paper aims at presenting the theoretical concepts of the transdisciplinary case study approach (TCS), which is a research and teaching approach developed and elaborated at the Swiss Federal Institute of Technology (ETH), as a means of transition support.

Design/methodology/approach

The paper reveals the historical roots of case studies, transdisciplinarity and sustainable development as teaching and research paradigms. The TCS approach is presented, which has been developed at ETH for supporting transition management of regional, urban, and organizational systems. This approach is entrenched by an ontology that reveals the basic characteristics of ill‐defined transition problems, an epistemology that refers to Probabilistic Functionalism and distinguishes between multi‐layered systemic and normative epistemics, a methodology that includes a set of methods for case representation (including modelling and projection), assessment, and strategy building, and a project management model that refers to more than a dozen TCSs in the field of sustainable development. Problems of validity of TCSs as a research methodology are discussed.

Findings

Three major strengths of the TCS approach presented in the paper are: that it is based on three sound paradigms, which focus on different, relevant characteristics of complex, human‐environment systems; i.e. the case study approach, transdisciplinarity and sustainable development, that it is strictly organized according to an elaborated and consistent theoretical framework that includes ontological, epistemological, methodological, and organizational considerations, and that it is itself subject to an ongoing inquiry and adaptation process. All theoretical considerations of the paper are clarified be elaborated examples from the more than 10 years experience with TCS of the authors.

Practical implications

The paper gives a comprehensive overview of the theoretical foundation of TCS that might assist other scientists engaged in case study research and teaching to further develop their approaches. Additionally, relevant topics for further research in the field of TCS are presented which hopefully induce an inspiring discussion among case study researchers.

Originality/value

As far we know, this paper is one of the first that presents a comprehensive and theoretically sound overview of applying transdisciplinary case studies as means of sustainability learning. Thus, it can be seen as a first, crucial step for establishing the new research field of TCS research and a sound research community of complex, transdisciplinary problem solving towards sustainability learning.

Details

International Journal of Sustainability in Higher Education, vol. 7 no. 3
Type: Research Article
ISSN: 1467-6370

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Article
Publication date: 1 May 1956

LEO WALTER

MAKERS OF STATIONARY GAS TURBINES for industrial uses claim that the lubricating cost of medium‐size power units ranges between 1 and 2% of the fuel costs. Comparative figures for…

89

Abstract

MAKERS OF STATIONARY GAS TURBINES for industrial uses claim that the lubricating cost of medium‐size power units ranges between 1 and 2% of the fuel costs. Comparative figures for average Diesel engines are 5 to 10%. These savings have an effect on the total running cost economy. Detailed oil consumption figures from industrial gas turbine operators have not yet been disclosed and for similar reasons, it is not possible in this survey to discuss individual design features of all units which comprise the various lubricating systems.

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Industrial Lubrication and Tribology, vol. 8 no. 5
Type: Research Article
ISSN: 0036-8792

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Article
Publication date: 25 November 2019

Harishankar Vidyarthi

The purpose of this paper is to examine the dynamics between income diversification and performance (cost, profit, revenue, technical, pure technical and scale efficiency) for 38…

775

Abstract

Purpose

The purpose of this paper is to examine the dynamics between income diversification and performance (cost, profit, revenue, technical, pure technical and scale efficiency) for 38 listed Indian banks within panel data framework during the period 2004-2005 to 2015-16.

Design/methodology/approach

This study computes bank’s cost, profit, revenue, technical, pure technical and scale efficiency within intermediation approach with data envelopment analysis (DEA) as a performance indicator, followed by exploring the association between income diversification and bank performance using truncated Tobit regression within panel data framework.

Findings

Tobit regression results revealed inverted U-shaped relationship between the income diversification and estimated efficiency parameters for the overall panel. Size and bank intermediation ratio seems to be a major factor in exploiting the potential benefits of income diversification. The author reconfirmed the inverted U-shaped relationship with these efficiency parameters for exclusive subsamples consisting of government-owned and private sector banks.

Research limitations/implications

Inverted U-shaped relationship between the income diversification and estimated efficiency parameters suggest that banks should go for limited diversification to improve performance. Thus, regulators and banks should pursue limited diversification strategy for improving banking efficiency.

Originality/value

This study computes bank performance (cost, profit, revenue, technical, pure technical and scale efficiency) based on DEA followed by exploring the association between performance and income diversification for 38 Bombay stock exchange listed banks.

Details

Journal of Financial Economic Policy, vol. 12 no. 3
Type: Research Article
ISSN: 1757-6385

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Article
Publication date: 7 August 2017

Peterson K. Ozili

The purpose of this paper is to investigate whether European banks use commission and fee income (CF) to smooth reported earnings or to persistently increase reported earnings as…

1641

Abstract

Purpose

The purpose of this paper is to investigate whether European banks use commission and fee income (CF) to smooth reported earnings or to persistently increase reported earnings as an income-increasing earnings management strategy.

Design/methodology/approach

The author tests the income-smoothing hypothesis following the approach of Stubben (2010) and Ahmed et al. (1999).

Findings

The author finds that European banks use CF to smooth reported earnings and this behaviour is pronounced among non-too-big-to-fail (NTBTF) European banks compared to too-big-to-fail (TBTF) European banks. The author also finds a positive and significant correlation between interest income and non-interest income (CF) indicating increased systematic risk due to reduced diversification benefits. The author also finds that the CF of NTBTF banks is procyclical with fluctuating economic conditions but not for TBTF banks. Also, the author finds evidence for income-increasing earnings management in the post-crisis period, for larger European banks and when banks have higher ex post interest income, implying that the propensity to engage in income-increasing earnings management significantly depends on bank size and ex post interest margin considerations. The findings have policy implications.

Originality/value

The author examines alternative financial numbers that banks use to manage earnings. The author focusses on income smoothing via CF among European banks, a context that has not been explored in the literature.

Details

International Journal of Managerial Finance, vol. 13 no. 4
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 9 January 2019

Ritab AlKhouri and Houda Arouri

The purpose of this paper is to investigate the effect of revenue diversification, non-interest income and asset diversification on the performance and stability of the Gulf…

2242

Abstract

Purpose

The purpose of this paper is to investigate the effect of revenue diversification, non-interest income and asset diversification on the performance and stability of the Gulf Cooperation Council (GCC) conventional and Islamic banking systems.

Design/methodology/approach

The authors implement a panel of 69 conventional and Islamic banks listed in six GCC markets over the period of 2003–2015, using the System Generalized Method of Moments methodology.

Findings

Non-interest income diversification has a negative impact on GCC banks’ performance, while asset-based diversification affects banks performance positively. However, Investors tend to penalize the value of the banks’ assets, which are highly diversified. Government intervention, lack of competition, legal protection and high control of Central banks on GCC banks’ have positive impact on performance. Contrary to the results on conventional banks, asset diversification adds value to Islamic banks. Overall, both banks’ revenue and non-interest diversification have negative impact on GCC banks’ stability, while asset diversification improves Islamic banks’ stability.

Research limitations/implications

The analysis is limited to a sample of banks, which are listed in the GCC stock exchanges. The lack of data on private and foreign banks operating in the region made the analysis and, consequently, the results specific to shareholding companies. Also, the authors’ measures of bank stability might not be appropriate to use for Islamic banks, given their banking models implemented.

Practical implications

Research results provide important implications for regulators, bank managers and policy makers, as to the expected ways to support economic diversification through bank diversification strategies.

Originality/value

Unlike related studies, the authors’ sample of homogeneous banks has a market structure that is different from the samples in the literature covering either developed countries or heterogeneous samples from both developed and developing countries. Furthermore, using an efficient econometric methodology, the authors deal with two types of banks: conventional banks and Islamic banks. The research determines which type of bank is more able to benefit from different types of diversification. Unlike previous research, this research explores the sensitivity of the results both to the regulatory environment of the GCC market and to general market conditions.

Details

International Journal of Managerial Finance, vol. 15 no. 1
Type: Research Article
ISSN: 1743-9132

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Article
Publication date: 11 March 2008

Harridutt Ramcharran and Doseong Kim

Recent studies of the impact of financial liberalization in emerging markets have not examined the dynamic impact of the liberalization process on equity returns despite the…

314

Abstract

Recent studies of the impact of financial liberalization in emerging markets have not examined the dynamic impact of the liberalization process on equity returns despite the important implications on ongoing reform policies. We analyze six Asian equity markets using a dynamic adjustment model with three independent variables: market capitalization value, pricebook value ratio, and price‐earnings ratio. We use panel data for the period 1991‐2000 and the LSDVR (least square dummy variable regression) approach to identify the timing effects of liberalization. The stability of the model is also tested. The results indicate, in most cases, the significance of all three variables and the timing effects. Evidence of significant structural changes is also supported.

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Article
Publication date: 19 September 2016

Saibal Ghosh

The relation between size and growth in banking firms in emerging economies has not been adequately addressed in the literature. By employing data for 1992-2014, the purpose of…

628

Abstract

Purpose

The relation between size and growth in banking firms in emerging economies has not been adequately addressed in the literature. By employing data for 1992-2014, the purpose of this paper is to examine the relationship between growth and productivity and how it interacts with ownership.

Design/methodology/approach

The longitudinal nature of the data suggests that the appropriate technique for the analysis is panel data econometrics. Accordingly, consistent with prior research, the author employs a fixed effects model. Besides accounting for firm-level observables, the author controls the economic environment and bank ownership by employing real GDP growth and ownership dummies.

Findings

The evidence appears to suggest that growth improves through both active and passive learning, the magnitude of the former far outweighing that of the latter. These results are remarkably robust: both baseline regressions and sensitivity tests point to similar conclusions.

Originality/value

To the best of the author’s knowledge, the paper makes two original contributions. First and more broadly, it tests the relationship between growth and productivity for banks in a leading emerging economy. Second, it distinguishes between two kinds of learning – active and passive – and explores which of them are more relevant for growth.

Details

International Journal of Emerging Markets, vol. 11 no. 4
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 1 July 2006

M. Stauffacher, A.I. Walter, D.J. Lang, A. Wiek and R.W. Scholz

The purpose of this paper is to present the transdisciplinary case study (TCS) as a learning framework based on what we call functional socio‐cultural constructivism and…

4514

Abstract

Purpose

The purpose of this paper is to present the transdisciplinary case study (TCS) as a learning framework based on what we call functional socio‐cultural constructivism and project‐based learning (PBL). In doing so, the paper attempts to illustrate the applicability of TCS to learn competencies and skills necessary to research problems of sustainable development.

Design/methodology/approach

TCS is considered a learning framework based on the principle of self‐regulated learning; i.e. students must actively deal with the requirements as well as plan and execute their project work within their own worldviews and goals. TCS methods are essential as we tackle complex real‐world problems.

Findings

The paper discusses challenges and obstacles of such an approach and present lessons learned since 1994, on both the viewpoints of students and of teachers. It conclude that case study learning is a demanding task, especially in a transdisciplinary context where more challenges emerge than in PBL, since goals of teachers, case agents, and students have to be balanced.

Practical implications

TCS or courses like it are important for universities at the present time. Under present budget restrictions and a wide‐ranging mistrust of society toward universities, there is a necessity for a new contract between society and research: students should learn to take over responsibility in societal contexts and be able to communicate beyond the “ivory tower”.

Originality/value

The learning goals of TCS differ from the goals of most university courses. They are more comprehensive and include complex problem solving, societal context, and group processes. The ambitious goal is that students become enabled to tackle complex, real‐world problems.

Details

International Journal of Sustainability in Higher Education, vol. 7 no. 3
Type: Research Article
ISSN: 1467-6370

Keywords

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