Search results

Preface The functions of business divide into several areas and the general focus of this book is on one of the most important although least understood of these—DISTRIBUTION. The particular focus is on reviewing current practice in distribution costing and on attempting to push the frontiers back a little by suggesting some new approaches to overcome previously defined shortcomings.

Civil wrongdoings with consequent financial and other loss or damage to employers, employees and third parties may result in the course of various trade union activities. These day to day trade union activities take a variety of forms. The most common ones are inducement of breach of contract, conspiracy, trespass, nuisance, and intimidation. Each of these activities constitutes a tort which, unless the statutory immunities apply, would normally give rise at common law to an action for damages or, as is more frequent, enable the aggrieved party to obtain an injunction.

The dynamics of quality performance and quality cost are gaining renewed interest in quality management literature. Using large sample secondary data, the purpose of this paper is to build up empirical evidence for increasing quality performance in manufacturing in the long-run. The authors then examine whether it is possible to reduce internal and external failure cost over time without increasing prevention and appraisal expenditures in return. Finally, a scale effect in reducing quality cost is measured to clarify the long-run dynamics between quality cost and quality performance.

The authors conduct statistical analysis on a large sample secondary data set to reveal relationships between total cost of quality, its components and overall quality performance.

Significantly higher quality performance and lower quality cost are observed in the long-run. Quality costs grow less than half as fast as sales volume, pointing to a significant scale effect in quality cost reduction.

Businesses can use these implications for targeting failure costs and budgeting appraisal and prevention costs. Based on company-specific historical learning behavior through prevention and appraisal activities, an increasingly reliable prognosis of failure cost shall be possible.

For the first time, quality performance and cost dynamics are assessed using a secondary data set with more than 400 observations. A scale effect for quality cost reduction is measured. The results are of great importance to quality management practice and research.

Prior research has suggested that the key to industrial purchasing success lies in the time development and maintenance of long‐term relationships between buyers and sellers. Good relational exchanges can lead to higher product quality and better coordination with the suppliers. As such, the purpose of this article is to explain how the change of these relationships over time is critical to successful purchasing, especially in understanding the factors that influence the relational change.

Three mini case studies are presented as an attempt to capture the subtle development of buyer‐seller relationships in the Asian printed circuit board industry. The approach used in this paper is to treat the relationship development as a process through time using Ford's model from 1980. Ford's model is appropriate as it allows the examination of time effects in relationships, factors influencing the change and the implications of having close linkages.

Initial results suggest that technological, social, time and actual distances, other than the quality of the relationships, can impact relationship development.

The results of this study suggest that buyers should consider carefully the influence of the geographical proximity of suppliers. As such, buyers could seek the services of personnel or departments who are more attuned to the supplier's local culture.

Since March (1991) presented his ideas on organizational learning, hundreds of empirical tests have been conducted on relationships among the activities of exploration, exploitation, ambidexterity, and firm performance. Despite continued interest in his ideas, there has not been a systematic assessment of extant research to reveal whether, and to what extent, these activities relate to firm performance. This study uses meta-analysis to take a next step by aggregating results of 117 studies from more than 21,000 firms. I find strong performance effects for exploration and exploitation, but contrary to received theory, I discover ambidexterity yields weaker effects than a focus on either exploration or exploitation. Thus, I leverage these findings to offer future research opportunities.

This study focuses on Egypt’s recent experience with exchange rate policies, examining the existence of spillover effects of exchange rate variations on stock prices across two different de facto regimes and whether these effects, if any, are asymmetric.

The empirical analysis is carried out using a nonlinear autoregressive distributed lag modeling framework, which permits testing for the presence of short- and long-run asymmetries. Relevant local and global factors are also included in the analysis as control variables. The authors divide the entire sample into a soft peg period and a free float one.

Over the soft peg regime period, both positive and negative changes in EGP/USD exchange rates seem to have a significant impact on stock returns, whether in the short or long run. Short-term asymmetric effects vanish in the free float period, while long-term asymmetries continue to exist. By and large, the authors find that currency depreciation tends to exercise a stronger influence on stock returns than does currency appreciation.

The results offer important insights for investors, regulators and policymakers. With the domestic currency depreciation having a negative impact on stock prices, investors should contemplate implementing appropriate currency hedging strategies to abate depreciation risks and, hence, preserve their expected rate of return on the Egyptian pound-denominated investments. In the current post-flotation era, the government could pursue a flexible inflation targeting monetary policy framework, with a view to both lowering the soaring inflation toward an announced target rate and stabilizing economic growth. The Central Bank of Egypt (CBE) could adopt indirect monetary policy instruments to secure tightened liquidity conditions. Besides, the CBE could raise policy rates to incentivize people to keep their money in local currency-denominated instruments, instead of dollarizing their savings, thereby relieving banks of foreign currency demand pressures. Nevertheless, while being beneficial to the country’s real economy on several aspects, such contractionary monetary measures may temporarily impinge on stock market performance. Accordingly, policymakers should consider precautionary measures that reduce the potential for price distortions and unnecessary volatility in the stock market.

To the best of the authors’ knowledge, the current study represents the first attempt to explore the potential impact of exchange rate changes under different regimes on Egypt’s stock market, thus contributing to the relevant research in this area.

Semi‐implicit, second order temporal and spatial finite volume computations of the flow in a differentially heated rotating annulus are presented. For the regime considered, three cyclones and anticyclones separated by a relatively fast moving jet of fluid or “jet stream” are predicted. Two second order methods are compared with, first order spatial predictions, and experimental measurements. Velocity vector plots are used to illustrate the predicted flow structure. Computations made using second order central differences are shown to agree best with experimental measurements, and to be stable for integrations over long time periods (>1000s). No periodic smoothing is required to prevent divergence.

Examines the thirteenth published year of the ITCRR. Runs the whole gamut of textile innovation, research and testing, some of which investigates hitherto untouched aspects. Subjects discussed include cotton fabric processing, asbestos substitutes, textile adjuncts to cardiovascular surgery, wet textile processes, hand evaluation, nanotechnology, thermoplastic composites, robotic ironing, protective clothing (agricultural and industrial), ecological aspects of fibre properties – to name but a few! There would appear to be no limit to the future potential for textile applications.

A heated rotating cavity with an axial throughflow of cooling air is used as a model for the flow in the cylindrical cavities between adjacent discs of a high‐pressure gas‐turbine compressor. In an engine the flow is expected to be turbulent, the limitations of this laminar study are fully realised but it is considered an essential step to understand the fundamental nature of the flow. The three‐dimensional, time‐dependent governing equations are solved using a code based on the finite volume technique and a multigrid algorithm. The computed flow structure shows that flow enters the cavity in one or more radial arms and then forms regions of cyclonic and anticyclonic circulation. This basic flow structure is consistent with existing experimental evidence obtained from flow visualization. The flow structure also undergoes cyclic changes with time. For example, a single radial arm, and pair of recirculation regions can commute to two radial arms and two pairs of recirculation regions and then revert back to one. The flow structure inside the cavity is found to be heavily influenced by the radial distribution of surface temperature imposed on the discs. As the radial location of the maximum disc temperature moves radially outward, this appears to increase the number of radial arms and pairs of recirculation regions (from one to three for the distributions considered here). If the peripheral shroud is also heated there appear to be many radial arms which exchange fluid with a strong cyclonic flow adjacent to the shroud. One surface temperature distribution is studied in detail and profiles of the relative tangential and radial velocities are presented. The disc heat transfer is also found to be influenced by the disc surface temperature distribution. It is also found that the computed Nusselt numbers are in reasonable accord over most of the disc surface with a correlation found from previous experimental measurements.