Hyo Jik Lee, Jong Kwang Lee, Byung Suk Park and Ji Sup Yoon
This paper aims to describe bridge transported servo‐manipulator (BTSM) system, which was developed to overcome the limited workspace of the conventional mechanical master‐slave…
Abstract
Purpose
This paper aims to describe bridge transported servo‐manipulator (BTSM) system, which was developed to overcome the limited workspace of the conventional mechanical master‐slave manipulators in a hot cell.
Design/methodology/approach
The BTSM system consists of four components: a transporter with a telescoping tubeset, a slave manipulator, a master manipulator, and a remote control system. The slave manipulator is able to move horizontally, transversely, and vertically by using the transporter.
Findings
The performance test of the BTSM system has been carried out in terms of basic functions such as force threshold, bilateral control and force reflection characteristic.
Originality/value
With respect to design characteristic, the BTSM system has the novel features in that the individual motor modules or the slave manipulator can be repaired in a fully remote manner in case of catastrophic failure. Also, a 3D viewing camera facilitates remote tasks giving human operators realistic environmental information.
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Abbas J. Ali, Monle Lee, Yi‐Ching Hsieh and Krish Krishnan
Individualism collectivism measures, along with decision styles, are examined in Taiwan. About 600 questionnaires were distributed directly to employees with managerial positions…
Abstract
Individualism collectivism measures, along with decision styles, are examined in Taiwan. About 600 questionnaires were distributed directly to employees with managerial positions in private, public, and mixed enter prises in the capital, Taipei. In general, Taiwanese were found to be more collectivist than individualistic. Participants displayed a strong preference for consultative and participative styles and determined that these two styles were the most effective in practice. Further more, participants indicated that their immediate supervisors were mostly consultative and autocratic.
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Nicholas J. Ashill and Ugur Yavas
The study reported in this article investigates whether or not consumers from Turkey and New Zealand attach similar levels of importance to various information sources in their…
Abstract
The study reported in this article investigates whether or not consumers from Turkey and New Zealand attach similar levels of importance to various information sources in their purchase decisions and whether they are similar (dissimilar) in their opinions on advertisement in various media. Customers surveyed in Istanbul and Wellington serve as the database. Study results and their implications are discussed.
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Riju Jakhar, Deepak Verma, Ajay Pal Singh Rathore and Divesh Kumar
Visual merchandising has a direct impact on shopping experience, making it pertinent for the retailers to ensure that their store environment has an effective design. This study…
Abstract
Purpose
Visual merchandising has a direct impact on shopping experience, making it pertinent for the retailers to ensure that their store environment has an effective design. This study blends fuzzy numbers and Analytical Hierarchy Process to create a fuzzy evaluation model prioritizing the relative weights of visual merchandising dimensions of online fashion apparel store. This study will help the fashion retailers in creating more engaging and informative online stores leading to subsequent increase in online retail sales.
Design/methodology/approach
Visual merchandising dimensions and sub dimensions used by retailers for online stores were identified through review of literature and discussion with experts. Twenty experts were interviewed and their responses captured. The responses were analyzed using Fuzzy AHP technique resulting in prioritizing the dimensions according to the weight. For testing the stability of the results, sensitivity analysis was conducted.
Findings
Four key dimensions and sixteen sub dimensions were extracted. Weights were calculated using FAHP. “Pictorial Presentation” has the highest weight followed closely by “Product Information” dimension. Amongst the sub-dimensions “Number of Product Images” scored highest followed by “Product Presentation mode”. “Alterable Background” scored the least weight.
Originality/value
Previous studies have identified Online Visual Merchandising dimensions and have also studied the impact of some of these dimensions on consumer buying behavior, but the relative significance has not been determined yet. This study fills the gap.
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This study aims to attempt to investigate the time-varying causality and price spillover effects between crude oil and exchange rate markets in G7 economies during the COVID-19…
Abstract
Purpose
This study aims to attempt to investigate the time-varying causality and price spillover effects between crude oil and exchange rate markets in G7 economies during the COVID-19 and Russia–Ukraine crises.
Design/methodology/approach
This study uses time-varying Granger causality test and spillover index.
Findings
This study finds a time-varying causality between exchange rate returns and oil prices, implying that crude oil prices have the predictive power of the foreign exchange rate markets in G7 economies in their domain. Furthermore, the total spillover index is estimated to fall significantly around COVID-19 and war events. However, this index is relatively high – more than 57% during the first wave of COVID-19 and decreasing slightly during the Russia–Ukraine conflict.
Practical implications
This outcome supports the hypothesis that the majority of the time-varying interaction between exchange rates and oil prices takes place in the short term. As a result, the time-varying characteristics provide straightforward insight for investors and policymakers to fully understand the intercorrelation between oil prices and the G7 exchange rate markets.
Originality/value
First, this study has reexamined the oil–exchange rate nexus to highlight new evidence using novel time-varying Granger causality model recently proposed by Shi et al. (2018) and the spillover index proposed by Diebold and Yilmaz (2012). These approaches allow the author to improve understanding of time-varying causal associations and return transmission between exchange rates and oil prices. Second, compared to past papers, this paper has used data from December 31, 2019, to October 31, 2022, to offer a fresh and accurate structure between the markets, which indicates the unique experience of the COVID-19 outbreak and Russia–Ukraine war episodes. Third, this study analyzes a data set of seven advanced economies (G7) exhibiting significant variations in their economic situations and responding to global stress times.
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Arunodaya Raj Mishra, Pratibha Rani, Abhijit Saha, Dragan Pamucar and Ibrahim M. Hezam
Reverse logistics (RL) is a type of supply chain management that moves goods from the end customer to the original manufacturer for reuse, remanufacturing and disposal purposes…
Abstract
Purpose
Reverse logistics (RL) is a type of supply chain management that moves goods from the end customer to the original manufacturer for reuse, remanufacturing and disposal purposes. Owing to growing environmental legislations and the development of new technologies in marketing, RL has attracted more significance among experts and academicians. Outsourcing RL practices to third-party reverse logistics provider (3PRLP) has been identified as one of the most important management strategies due to complexity of RL operations and the lack of available resource. Current sustainability trends have made 3PRLP assessment and selection process more complex. In order to select the 3PRLP, the existence of several aspects of sustainability motivates the experts to establish a new multi-criteria decision analysis (MCDA) approach.
Design/methodology/approach
With the growing complexity and high uncertainty of decision environments, the preference values of 3PRLPs are not always expressed with real numbers. As the generalized version of fuzzy set, intuitionistic fuzzy set and Fermatean fuzzy set, the theory of q-rung orthopair fuzzy set (q-ROFS) is used to permit decision experts (DEs) to their assessments in a larger space and to better cope with uncertain information. Given that the combined compromise solution (CoCoSo) is an innovative MCDA approach with higher degree of stability and reliability than several existing methods.
Findings
To exhibit the potentiality and applicability of the presented framework, a case study of S3PRLPs assessment is taken from q-rung orthopair fuzzy perspective. The assessment process consists of three sustainability aspects namely economic, environment and social dimensions related with a total of 14 criteria. Further, sensitivity and comparative analyses are made to display the solidity and strength of the presented approach. The results of this study approve that the presented methodology is more stable and efficient in comparison with other methods.
Originality/value
Thus, the objective of the study is to develop a hybrid decision-making methodology by combining CoCoSo method and discrimination measure with q-ROFS for selecting an appropriate sustainable 3PRLP (S3PRLP) candidate under uncertain environment. In the proposed method, a novel procedure is proposed to obtain the weights of DEs within q-ROFS context. To calculate the criteria weights, a new formula is presented based on discrimination measure, which provides more realistic weights. In this respect, a new discrimination measure is proposed for q-ROFSs.
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Hasan Dinçer, Tuba Bozaykut-Buk, Şenol Emir, Serhat Yuksel and Nicholas Ashill
The purpose of this paper is to present a multidimensional evaluation of brand equity performance incorporating dimensions adopted from the balance scorecard (BSC) approach to…
Abstract
Purpose
The purpose of this paper is to present a multidimensional evaluation of brand equity performance incorporating dimensions adopted from the balance scorecard (BSC) approach to business performance.
Design/methodology/approach
In this study, text mining is used for automatic extraction of valuable information from textual data such as the financial reports of firms. Instead of expert opinions, linguistic scales built upon outcomes of text mining are used as inputs for decision-making. The proposed model combines fuzzy DEMATEL (FDEMATEL), fuzzy ANP (FANP), fuzzy TOPSIS (FTOPSIS) and fuzzy VIKOR (FVIKOR) methods for weighting criteria and ranking alternatives.
Findings
Using data from five privatized firms in Turkey, the study’s findings demonstrate that the customer is the most important dimension of brand equity performance evaluation. Cash flow and brand loyalty are identified as the most important criteria in the measurement of brand equity performance.
Practical implications
Findings highlight the importance of firms taking action to increase consumer perceptions, attitudes and behaviors in the privatization processes. For this purpose, privatized firms need to understand the expectations of customers to increase customer satisfaction and loyalty and therefore improve brand equity.
Originality/value
The paper contributes to literature in several important ways. First, by adopting the BSC approach, it proposes a holistic and a multidimensional model for measuring brand equity performance. Second, the study offers a novel methodology using a hybrid multi-criteria decision-making model designed for the fuzzy environment. Third, the study uses the knowledge extraction tool of text mining in the fuzzy decision-making process. Finally, the study evaluates the brand equity performance of privatized firms in an emerging country context.
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Chi Wei Su, Xian-Li Meng, Ran Tao and Muhammad Umar
This research examines the dynamic interrelationship between economic policy uncertainty (EPU) and the inflows of foreign direct investment (IFDI) in China.
Abstract
Purpose
This research examines the dynamic interrelationship between economic policy uncertainty (EPU) and the inflows of foreign direct investment (IFDI) in China.
Design/methodology/approach
This research used the Granger causality and sub-sample time-varying rolling window causality method.
Findings
The empirical results reveal that EPU tends to have a negative impact on the IFDI in most periods that have been taken into consideration. However, there has been a positive relationship observed between the periods of the US subprime crisis. That is to say that the uncertainty of the Chinese economic policy does not always impede the IFDI. These results are supported by the general equilibrium model, which states that there are certain influences that come into play when moving from EPU to IFDI. On the other hand, the IFDI exert a positive influence on EPU during times of economic crisis and trade war, which indicates that the uncertainty in the economy may increase due to the sudden soar of foreign investment.
Originality/value
During tense global trade situations and complicated economic scenarios, the results suggest the Chinese government should dedicate itself to expanding its initiatives to open up and improve the domestic business environment in order to increase the foreign investors' confidence and prevent the decline in the IFDI. In addition to this, it also suggests that multinational companies pay attention to the policy environment of the host country, especially when they decide to invest there.
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Wing-Keung Wong, Zhihui Lv, Christian Espinosa and João Paulo Vieito
To the best of the authors’ knowledge, this study is the first to investigate the intricate relationship between crude oil spot and futures prices, focusing on both cointegration…
Abstract
Purpose
To the best of the authors’ knowledge, this study is the first to investigate the intricate relationship between crude oil spot and futures prices, focusing on both cointegration and market efficiency during the COVID-19 pandemic, and the beginning of the Russia–Ukraine conflict. Using daily West Texas Intermediate data from January 2020 to March 2024, like Cunado and Pérez de Gracia (2003), the authors use advanced statistical methods to identify structural breaks and assess cointegration levels. Linear and nonlinear Granger causality tests are used to reveal underlying dynamics.
Design/methodology/approach
This paper uses the Lagrange Multiplier test by Arai and Kurozumi (2007) to check for cointegration with various shifts in crude oil spot and futures markets. The two-step procedure by Kejriwal and Perron (2010) and Kejriwal et al. (2022) is then applied to assess partial parameter stability in cointegration models. Efficiency is examined using both bivariate and trivariate models based on non-arbitrage and expectations hypotheses. Finally, causality is analyzed with the vector error correction model for linear Granger causality, and the tests by Bai et al. (2018) and Diks and Panchenko (2006) for nonlinear causality.
Findings
The analysis reveals that futures prices generally lead spot prices through both linear and nonlinear causality during certain periods, while only linear causality is present in others. This inconsistency suggests fluctuating market efficiency and potential arbitrage opportunities. Structural breaks indicate that the equilibrium between spot and futures prices adjusts in response to significant events like the COVID-19 pandemic and the Russia–Ukraine war. The study identifies specific periods, particularly between January 2020 and March 2024, where both linear and nonlinear forecasting between futures and spot oil prices are effective, highlighting the dynamic nature of their relationship.
Research limitations/implications
Despite extensive efforts, pinpointing the exact break date for COVID-19 remains challenging due to limitations in the data set and methodology. Additionally, the analysis of the Russia–Ukraine conflict is still ongoing. These challenges highlight the complexity of addressing structural breaks linked to unprecedented events.
Practical implications
The findings offer valuable insights for both academia and industry practitioners. The study reveals potential arbitrage opportunities stemming from inconsistent market efficiency and fluctuating causality between futures and spot prices, allowing traders to optimize their trades and timing. It also enhances risk management by identifying when linear and nonlinear causality is most effective. Policymakers can use these insights to evaluate market stability, especially during major disruptions such as the COVID-19 pandemic and geopolitical conflicts, guiding regulatory decisions. Furthermore, the study highlights the importance for investors to adjust their strategies in response to structural breaks and evolving market conditions.
Social implications
This study’s social implications are diverse, extending beyond finance and academia. It influences economic stability by revealing inefficiencies and arbitrage opportunities in crude oil markets, aiding better resource allocation. Enhanced transparency benefits stakeholders, promoting fair market practices and consumer protection. Policymakers can refine regulations based on identified structural breaks, ensuring market stability. The study indirectly impacts environmental discussions by examining crude oil’s link to global energy consumption. Financially, it guides investment strategies, influencing resource distribution and the broader economy. Additionally, its educational contribution stimulates academic discourse, fostering growth in energy economics and financial market knowledge, shaping future research.
Originality/value
The originality and value of this paper lie in its comprehensive examination of the dynamic relationship between futures and spot oil prices, particularly through both linear and nonlinear causality across different periods. By identifying and analyzing periods of both linear and nonlinear causality, the study uncovers fluctuating market efficiency and potential arbitrage opportunities that are not typically addressed in conventional analyses. Additionally, the paper’s focus on the impact of significant global events, such as the COVID-19 pandemic and the Russia–Ukraine war, on the equilibrium between spot and futures prices offers a novel perspective on how structural breaks influence market dynamics. This nuanced understanding enhances both theoretical and practical knowledge, offering valuable insights for traders, investors and policymakers to navigate and respond to evolving market conditions.
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Mingyang Liu, Guangjun Gao, Huifen Zhu and Chen Jiang
The purpose of this paper is to investigate the feasibility of solving turbulent flows based on smoothed finite element method (S-FEM). Then, the differences between S-FEM and…
Abstract
Purpose
The purpose of this paper is to investigate the feasibility of solving turbulent flows based on smoothed finite element method (S-FEM). Then, the differences between S-FEM and finite element method (FEM) in dealing with turbulent flows are compared.
Design/methodology/approach
The stabilization scheme, the streamline-upwind/Petrov-Galerkin stabilization is coupled with stabilized pressure gradient projection in the fractional step framework. The Reynolds-averaged Navier-Stokes equations with standard k-epsilon model are selected to solve turbulent flows based on S-FEM and FEM. Standard wall functions are applied to predict boundary layer profiles.
Findings
This paper explores a completely new application of S-FEM on turbulent flows. The adopted stabilization scheme presents a good performance on stabilizing the flows, especially for very high Reynolds numbers flows. An advantage of S-FEM is found in applying wall functions comparing with FEM. The differences between S-FEM and FEM have been investigated.
Research limitations/implications
The research in this work is limited to the two-dimensional incompressible turbulent flow.
Practical implications
The verification and validation of a new combination are conducted by several numerical examples. The new combination could be used to deal with more complicated turbulent flows.
Social implications
The applications of the new combination to study basic and complex turbulent flow are also presented, which demonstrates its potential to solve more turbulent flows in nature and engineering.
Originality/value
This work carries out a great extension of S-FEM in simulations of fluid dynamics. The new combination is verified to be very effective in handling turbulent flows. The performances of S-FEM and FEM on turbulent flows were analyzed by several numerical examples. Superior results were found compared with existing results and experiments. Meanwhile, S-FEM has an advantage of accuracy in predicting boundary layer profile.