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Article
Publication date: 1 February 2005

R. Bhaskaran, N. Palaniswamy, N.S. Rengaswamy and M. Jayachandran

To analyze the different approaches used to estimate the cost of corrosion and understand the limitations so as to have proper appropriation in future appraisals.

2061

Abstract

Purpose

To analyze the different approaches used to estimate the cost of corrosion and understand the limitations so as to have proper appropriation in future appraisals.

Design/methodology/approach

Four well‐known approaches to analysis of cost of corrosion viz., the Uhlig method, the Hoar method, NBS‐BCL input/output method and net present value method have been considered in great detail and the impact of these approaches on corrosion economy in different countries has been highlighted.

Findings

Uhlig method of estimating corrosion cost always gives a conservative estimate of the direct cost of corrosion. The direct cost of corrosion, as estimated by the Hoar method, is found to be somewhat higher than is the estimate made using the Uhlig method, as shown by Shibata of Japan. The NBS‐BCL method of input/output analysis, though apparently more scientific, is subject ultimately to uncertainties in quantifying the capital cost and intermediate output. The net present value method appears to be more realistic than do other approaches as it enables a life cycle costing of each structure/facility to be made and arrives at the most cost‐effective corrosion control method. Even though all the above four approaches enable an estimation of direct cost of corrosion, there is no standard approach to assess the indirect cost of corrosion.

Originality/value

In a developing economy, each and every industry has to go for systematic corrosion auditing in order to identify and adopt the most appropriate corrosion control measures and effect considerable savings. This paper would be of immense use in that regard.

Details

Anti-Corrosion Methods and Materials, vol. 52 no. 1
Type: Research Article
ISSN: 0003-5599

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Article
Publication date: 30 August 2024

Rajesh Kumar Bhaskaran, Sujit K Sukumaran and Kareem Abdul Waheed

This study aims to examine whether social initiatives adopted by firms lead to improved financial performance. The authors analyse the impact of different elements of social…

77

Abstract

Purpose

This study aims to examine whether social initiatives adopted by firms lead to improved financial performance. The authors analyse the impact of different elements of social initiatives on wealth creation for firms in terms of operating and market performance.

Design/methodology/approach

The study is based on the social initiative scores of over 4,500 firms collected from Thomson Reuters' ESG database. The study uses two-stage least squares (2SLS) to analyse the relationship between social initiatives and firm performance.

Findings

Profitable, mature, capital intensive and firms with high sales growth rate tend to invest more in social initiatives. Firms with high agency costs invest in social initiatives for workforce efficiency, maintaining human rights and product responsibility. The study documents evidence that social investments are value creating mechanism for firms which leads to improved financial performance in terms of operating and stock market performance. Firms with high dividend intensity invest in social initiatives for workforce welfare and human rights initiatives. Investment in employee well-being and community initiatives results in intangible benefits such as improved stock market valuation.

Practical implications

The research model has not considered the impact of intervening variables to understand the relationship between corporate social performance and corporate financial performance.

Social implications

Firms ought to recognize that social investment is beneficial in terms of value creation of firms as stock market perceive such investments favourably. Firms must focus more on community development initiatives and workforce initiatives for the value creation of firms compared to investments directed towards human rights initiatives and product responsibility initiatives.

Originality/value

This study focusses exclusively on the social dimension of the CSR activities. The authors examine the impact of social welfare scores on firm performance by analysing the valuation effects on scores representing workforce, human rights, community and product responsibility. Moreover, the paper also examines the impact of a new dimension of product responsibility on firm performance. They also focus on both aspects of financial performance in terms of operating performance (proxied by ROE) and the joint impact of both operating and market performance (proxied by Tobin’s Q). This paper contributes to the research on the linkage of social performance to financial performance by observing that firms with high agency cost characteristics tend to invest in social initiatives for work force efficiency, maintaining human rights and product responsibility.

Details

Journal of Global Responsibility, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2041-2568

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Book part
Publication date: 16 May 2024

Stefano Elia, Gezim Hoxha and Lucia Piscitello

This study aims at investigating the effect of corporate social responsibility (CSR) and corporate social irresponsibility (CSI) on corporate financial performance (CFP) in firms…

Abstract

This study aims at investigating the effect of corporate social responsibility (CSR) and corporate social irresponsibility (CSI) on corporate financial performance (CFP) in firms headquartered in developed versus emerging countries. Drawing upon stakeholder and legitimacy perspectives, the authors argue that the CSR/CSI–CFP relationship differs depending on the home-countries’ level of economic development as this reflects their different sensitivity to sustainability. Indeed, as emerging economies are normally characterized by weaker regulations, they are likely to place lower pressures on companies for superior CSR practices. Therefore, the authors expect the effect of CSR on CFP to be more positive for firms headquartered in advanced than in emerging countries. At the same time, the authors propose a more negative relationship between CSI and CFP for firms headquartered in developed countries due to the higher overall sustainability expectations required to gain legitimacy. The empirical analyses, run on a sample of 1,971 publicly listed firms between 2010 and 2020 from developed and emerging economies, support the expectations, thus confirming that country-specific contextual factors do play a role in shaping both the positive and the negative impact of CSR and CSI on CFP, and that the reactions of stakeholders to responsible and irresponsible behavior are stronger when their sensitivity to sustainability is higher.

Details

Walking the Talk? MNEs Transitioning Towards a Sustainable World
Type: Book
ISBN: 978-1-83549-117-1

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Article
Publication date: 7 September 2022

Fei Yan, Hong-Zhuan Chen and Zhichao Zhang

Industry practice has shown that technology licensing has an important effect on the R&D cooperation between firms. Different licensing methods will significantly impact a supply…

311

Abstract

Purpose

Industry practice has shown that technology licensing has an important effect on the R&D cooperation between firms. Different licensing methods will significantly impact a supply chain member's cooperative and price R&D decisions. However, there is scant literature investigating the decision on technology licensing and its impact on a supply chain member's price and cooperative R&D decisions. To address this gap, the authors investigate the R&D cooperation and the technology licensing in a supply chain formed of an original equipment manufacturer (OEM), a contract manufacturer (CM), and a third-party manufacturer which will compete with the OEM when the technology licensing occurs.

Design/methodology/approach

The authors investigate two licensing patterns, royalty licensing, fixed fee licensing together with the no licensing, within the R&D cooperative supply chain by developing two three-stage and a two-stage Stackelberg models.

Findings

Compare to the no licensing strategy, technology licensing always benefits to the OEM and the society especially when the technology efficiency and the brand power of the third-party manufacturer are more significant; the royalty licensing benefits to the OEM more when the technology efficiency and the brand power of the third-party manufacturer are higher; the fixed fee licensing benefits to the OEM more when the technology efficiency and the brand power of the third-party manufacturer are lower.

Practical implications

The royalty licensing is more effective for mitigating price competition intensity and helping firms to maintain higher sales margins; the fixed fee licensing induces firms' lower sales margins but increases the firms' sales quantities; in most cases, the fixed fee licensing is optimal from the perspectives of consumer and society, however, the CM's investment intention to the R&D technology with the fixed fee licensing is lower.

Originality/value

So far, different licensing models under the R&D cooperation have not been investigated, and the authors propose two three-stage Stackelberg models with considering the competition caused by technology licensing under the R&D cooperation to deal with the cooperative R&D and technology licensing issues.

Details

Kybernetes, vol. 52 no. 12
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 30 December 2022

Santi Gopal Maji and Prachi Lohia

This paper aims to investigate the impact of environmental, social and governance (ESG) performance on the firm performance of select Indian companies.

4356

Abstract

Purpose

This paper aims to investigate the impact of environmental, social and governance (ESG) performance on the firm performance of select Indian companies.

Design/methodology/approach

The present paper is a cross-section study based on secondary data with a sample of 222 Indian firms. The ESG performance for Indian companies is based on the Credit Rating Information Services of India Limited (CRISIL) ESG score, and the financial data are extracted from the ACE Equity database. Both accounting- and market-based measures of firm performance are used. Ordinary least squares and simultaneous quantile regression models are used for empirical investigation.

Findings

The study reveals that Indian firms focus much more on governance and social parameters than environmental ones. The results indicate that ESG performance and its components are positively associated with firm performance. The results of quantile regression show that the impact of ESG is different at different locations of the conditional distribution of firm performance and the positive impact is more pronounced at upper quantiles.

Originality/value

To the best of the authors’ knowledge, this is the first study in India based on the CRISIL ESG score for analyzing the ESG and firm performance relationship. Furthermore, in the Indian context, a modest attempt is made to study the influence of ESG performance at different locations of the distribution of firm performance by using quantile regression.

Details

Society and Business Review, vol. 18 no. 1
Type: Research Article
ISSN: 1746-5680

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Article
Publication date: 1 March 2021

Yue Long and Pan Liu

Knowledge input development and innovation implementation are new features of industrial technology innovation. The purpose of this study is to find the process of coordination…

299

Abstract

Purpose

Knowledge input development and innovation implementation are new features of industrial technology innovation. The purpose of this study is to find the process of coordination and ecological spiral in the ambidextrous innovation of industrial technology.

Design/methodology/approach

To design the model of industrial technology ambidextrous innovation based on knowledge ecology spiral, an input-output model of knowledge for ambidextrous innovation and a spiral model of knowledge ecology were constructed based on an improved Lotka-Volterra model. Then, the equilibriums in different knowledge inputs and the spiral evolution of knowledge ecology were analyzed. Finally, the ambidextrous coordination mechanism of the core organization was revealed.

Findings

By coordinating the knowledge inputs and the knowledge ecology spiral, enterprises extend the R&D investments in the innovation chain, which will facilitate the knowledge inputs of the exploitative and exploratory innovation. Implementing the ambidextrous coordination in the technology innovation chain and the knowledge ecology chain has the advantage of promoting knowledge inputs, mobility and ecological spiral. Meanwhile, it can achieve the “multi-source, integration and coordination” development of industrial technology innovation.

Originality/value

The two-element innovative knowledge input coordination model and the knowledge ecological spiral model based on the improved Lotka-Volterra model are constructed, which extends the modeling way of the traditional knowledge input-output profit model. It is expected to reduce the amount of knowledge input of a single member and provide theoretical reference for improving the efficiency of knowledge input by constructing the inter-dependent regenerative and inter-generative knowledge interaction.

Details

Kybernetes, vol. 50 no. 12
Type: Research Article
ISSN: 0368-492X

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Book part
Publication date: 13 August 2014

Paul C. van Fenema, Bianca Keers and Henk Zijm

Sharing services increasingly extends beyond intraorganizational concentration of service delivery. Organizations have started to promote cooperation across their boundaries to…

Abstract

Purpose

Sharing services increasingly extends beyond intraorganizational concentration of service delivery. Organizations have started to promote cooperation across their boundaries to deal with strategic tensions in their value ecosystem, moving beyond traditional outsourcing. This chapter addresses two research questions geared to the challenge of interorganizational shared services (ISS): why would organizations want to get and remain involved in ISS? And: what are the implications of ISS for (inter)organizational value creation?

Design/methodology/approach

The conceptual chapter reviews literature pertaining to ISS from public, commercial, and nongovernmental sectors. ISS is understood as a multistakeholder organizational innovation. In order to analyze ISS and conduct empirical research, we developed a taxonomy and research framework.

Findings

The chapter shows how ISS can be positioned in value chains, distinguishing vertical, horizontal, and hybrid ISS. It outlines ISS implications for developing business models, structures, and relationships. Success factors and barriers are presented that epitomize the dynamic interplay of organizational autonomy and interorganizational dependence.

Research limitations/implications

The research framework offers conceptual ideas for theoretical and empirical work. Researchers involved in ISS studies may adopt strategic, strategic innovation, and organizational innovation perspectives.

Practical implications

ISS phases are distinguished to focus innovation management — initiation, enactment, and evaluation. Furthermore, insights are provided into processes and interventions aimed at making ISS a success for participating organizations.

Originality/value

Cross-sectoral perspective on ISS; taxonomy of ISS; research framework built on organization and strategic management literature.

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Article
Publication date: 24 August 2022

Dina Ribbink, Hubert Pun and Tingting Yan

When developing a new product, a buying firm solicits revenue sharing bids from two competing suppliers. Bidding behaviors of suppliers do not always align with predictions from…

412

Abstract

Purpose

When developing a new product, a buying firm solicits revenue sharing bids from two competing suppliers. Bidding behaviors of suppliers do not always align with predictions from rational agent models due to task uncertainty and bounded rationality, which could result in non-optimal supplier offers and ultimately hurt buying firm interests. This paper aims to discuss the aforementioned issues.

Design/methodology/approach

The authors built an analytical model that considers the impact of supplier technological risk, buyer–supplier coordination cost and supplier loss aversion on the optimal bid of the supplier. Next, using limited information processing capacity as a theoretic lens, the authors explore antecedents to the size of a focal supplier's bidding error, the absolute difference between the actual bid and the optimal bid. The authors used quantitative lab experimental data to test the hypotheses.

Findings

(1) Bounded rational bidders often fail to differentiate between relevant and irrelevant competitive information when placing bids, (2) loss aversion of a bidder significantly affects not only levels of bids, particularly for bidders with competitive disadvantages, but also sizes of the bidding error and (3) competitive information that has clearer performance implications are more influential in reducing sizes of bidding errors.

Originality/value

The results provide a comprehensive view of the bidding behaviors of a bounded rational supplier in an innovation outsourcing context with competition. With the results, managers now have a better understanding of behavioral influencers behind non-optimal supplier bids in an innovation outsourcing context.

Details

International Journal of Operations & Production Management, vol. 42 no. 12
Type: Research Article
ISSN: 0144-3577

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Article
Publication date: 31 May 2022

Priti Yadav and Anupama Prashar

The purpose of this article is to explore the phenomena of board gender diversity and its consequences for sustainability performance, as measured by the environment, social and…

3019

Abstract

Purpose

The purpose of this article is to explore the phenomena of board gender diversity and its consequences for sustainability performance, as measured by the environment, social and governance (ESG) disclosure score, in the Indian context.

Design/methodology/approach

The positivist paradigm influenced the research design for this study. The relationship between firm's ESG performance and female participation on the corporate boards was explored using panel data regression with a fixed effect approach. A total of 712 data points covering the Nifty 100 companies of the National Stock Exchange (NSE) were included in the data set. To add robustness to the findings and to overcome endogeneity bias, authors employed the Dynamic Generalized Method of Moments (GMM).

Findings

The results showed that, a relatively small, percentage of women directors has little impact on ESG performance, but when at least three women directors are in place, these relationships become more favourable. Despite the fact that Indian firms trail behind many developed and developing countries in promoting board gender equality, authors conclude that critical mass theory partially applies in the Indian context.

Originality/value

This study contributes to the field of corporate governance in the twenty-first century by investigating the subject of women's participation on boards in the context of a rising market and its potential influence on sustainability performance. The use of critical mass theory adds a fresh perspective to the literature.

Details

International Journal of Productivity and Performance Management, vol. 72 no. 9
Type: Research Article
ISSN: 1741-0401

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Book part
Publication date: 19 September 2019

Emre Soyer, Koen Pauwels and Steven H. Seggie

While Big Data offer marketing managers information that is high in volume, variety, velocity, and veracity (the 4Vs), these features wouldn’t necessarily improve their…

Abstract

While Big Data offer marketing managers information that is high in volume, variety, velocity, and veracity (the 4Vs), these features wouldn’t necessarily improve their decision-making. Managers would still be vulnerable to confirmation bias, control illusions, communication problems, and confidence issues (the 4Cs). The authors argue that traditional remedies for such biases don’t go far enough and propose a lean start-up approach to data-based learning in marketing management. Specifically, they focus on the marketing analytics component of Big Data and how adaptations of the lean start-up methodology can be used in some combination with such analytics to help marketing managers improve their decision-making and innovation process. Beyond the often discussed technical obstacles and operational costs associated with handling Big Data, this chapter contributes by analyzing the various learning and decision-making problems that can emerge once the 4Vs of Big Data have materialized.

Details

Marketing in a Digital World
Type: Book
ISBN: 978-1-78756-339-1

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