Filippo Fontana, Christoph Klahn and Mirko Meboldt
A prerequisite for the successful adoption of additive manufacturing (AM) technologies in industry is the identification of areas, where such technologies could offer a clear…
Abstract
Purpose
A prerequisite for the successful adoption of additive manufacturing (AM) technologies in industry is the identification of areas, where such technologies could offer a clear competitive advantage. The purpose of this paper is to investigate the unique value-adding characteristics of AM, define areas of viable application in a firm value chain and discuss common implications of AM adoption for companies and their processes.
Design/methodology/approach
The research leverages a multi-case-study approach and considers interviews with AM adopting companies from the Swiss and central European region in the medical and industrial manufacturing industries. The authors rely on a value chain model comprising a new product development process and an order fulfillment process (OFP) to analyze the benefits of AM technologies.
Findings
The research identifies and defines seven clusters within a firm value chain, where the application of AM could create benefits for the adopting company and its customers. The authors suggest that understanding the AM process chain and the design experience are key to explaining the heterogeneous industrial maturity of the presented clusters. The authors further examine the suitability of AM technologies with agile development techniques to pursue incremental product launches in hardware. It is clearly a field requiring the attention of scholars.
Originality/value
This paper presents a value-driven approach for use-case identification and reveals implications of the industrial implementation of AM technologies. The resultant clustering model provides guidance to new AM adopters.
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Christoph Klahn, Filippo Fontana, Bastian Leutenecker-Twelsiek and Mirko Meboldt
Additive manufacturing (AM) allows companies to create additional value in the processes of new product development and order fulfillment. One of the challenges for engineers is…
Abstract
Purpose
Additive manufacturing (AM) allows companies to create additional value in the processes of new product development and order fulfillment. One of the challenges for engineers is to identify suitable parts and applications for additive manufacturing. The purpose of this paper is to investigate the relation between value creation and the design process. The implications of this relation provide an orientation on the methods for identifying parts and applications for additive manufacturing.
Design/methodology/approach
Mapping the value clusters of AM on design strategies allows determining the expected degree of change in design. A classification into major and minor design changes is introduced to describe the predictability of the impact of AM on past performance and business model. The ability to predict the future properties of an AM part determines the suitability of identification and selection methods from literature. The mapping is validated by an identification process that creates a shortlist of potential AM parts based on the strategic decision for a value cluster. Shortlisted parts are then evaluated based on the criteria technology readiness, required post-processing, customer benefit and manufacturer benefit.
Findings
The mapping of value clusters on expected design changes determines the type of selection process. For minor design changes, automated part identification serves as a powerful tool while major design changes require the judgment of skilled engineers.
Research limitations/implications
The mapping of value clusters to design strategies and degree of change in design is based on empirical observations and conclusions. The mapping has been validated in an industrial context in different identification and selection processes. Nevertheless the versatility of AM and industrial environments impede a universal validity of high-level concepts.
Practical implications
This value-driven process of identification and selection was applied in technology transfer projects and proved to be useful for AM novices and experts. The mapping supports the identification and selection process, as well as the general product development process by providing an indication of the design effort for implementing AM.
Originality/value
The novel mapping links the economic domain of value creation to the engineering domain of design strategies to provide guidance in the selection of economically and technically suitable parts for additive manufacturing.
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Domenica Farinella and Pietro Saitta
This study explores the historical development of a deprived class in Messina, a Southern Italian city. By means of 85 in-depth interviews and the analysis of the most important…
Abstract
This study explores the historical development of a deprived class in Messina, a Southern Italian city. By means of 85 in-depth interviews and the analysis of the most important phases of the reconstruction following a disastrous earthquake which took place in 1908, the authors investigate the forces that, over the course of a century, shaped the formation process of an “underclass” living in shanties and deprived project areas within the city. The authors’ hypothesis is that the “economy of disaster” and the “shock economy” are not a specific feature of the current period. On the contrary, the elements characterizing the contemporary disaster-related speculative processes were largely active at the very beginning of the past century. This chapter, then, explores the long-lasting social consequences of speculative approaches to the management of disasters, and reflects on the forms of resistance of subaltern populations to an organization of life that started in the aftermath of a remote earthquake, and still affects their living conditions and ways of reproduction.
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Nicola Raimo, Alessandra Ricciardelli, Michele Rubino and Filippo Vitolla
Human capital (HC) represents a particularly important element capable of guiding the firms’ value creation process in the new economy. The purpose of this study is to analyze the…
Abstract
Purpose
Human capital (HC) represents a particularly important element capable of guiding the firms’ value creation process in the new economy. The purpose of this study is to analyze the level of HC information contained within integrated reports and to identify the variables that influence the HC disclosure policies of companies.
Design/methodology/approach
Research hypotheses, developed on the basis of agency theory, were tested using a regression model on a sample of 137 worldwide companies. A HC disclosure index was designed to examine the level of HC disclosure and a content analysis was used to investigate the integrated reports.
Findings
Results showed a positive and significant impact of firm size, board size, board independence and board diversity on the level of HC information disclosed by companies within their integrated reports. On the contrary, they demonstrated a not significant effect of firm profitability.
Practical implications
Results have important implications for corporate executives, high-level corporate governance, policymakers and investors. They point out additional further motivations for creating larger boards and including non-executive members and women on the board. In addition, investors could use the HC disclosure index to evaluate companies’ HC disclosure policies in their investment decisions.
Originality/value
This study extends the agency theory application scope and extends the analysis of HC disclosure to other corporate documents, namely, integrated reports. Besides, it increases knowledge about the factors capable of influencing HC disclosure, identifying a series of elements capable of directly affecting the level of information that companies disclose.
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Antonio Salvi, Nicola Raimo, Felice Petruzzella and Filippo Vitolla
The purpose of this paper is to analyse the financial consequences of the level of human capital (HC) information disclosed by firms through integrated reports. Specifically, this…
Abstract
Purpose
The purpose of this paper is to analyse the financial consequences of the level of human capital (HC) information disclosed by firms through integrated reports. Specifically, this work examines the effect of HC information on the cost of capital and firm value.
Design/methodology/approach
A manual content analysis is used to measure the level of HC information contained in integrated reports. A fixed-effects regression model is used to analyse 375 observations (a balanced panel of 125 firms for the period 2017–2019) and test the financial consequences of HC disclosure.
Findings
The empirical outcomes indicate that HC disclosure has a significant and negative effect on the cost of capital and a positive impact on firm value. Our results show that companies can reduce investors' perceived firm risk by improving HC disclosure, leading to a lower cost of capital. Moreover, our findings support the notion that increased levels of HC disclosure are linked to firms' improved access to external financial resources, consequently enhancing firm value.
Originality/value
This study is the first contribution to examine the financial consequences of HC disclosure and is one of the first to examine the level of HC information within integrated reports.