Chuntai Jin, Tianze Li, Steven Xiaofan Zheng and Ke Zhong
The purpose of this paper is to answer the following three questions about the new capital raised in initial public offerings (IPOs): why do some IPO companies raise a lot of new…
Abstract
Purpose
The purpose of this paper is to answer the following three questions about the new capital raised in initial public offerings (IPOs): why do some IPO companies raise a lot of new capital while some others do not? Where do the IPO companies use the new capital they raise in IPOs? How does the use of new capital affect the operating performance of IPO companies?
Design/methodology/approach
Matching firm approach, univariate and regression tests.
Findings
This paper finds that companies with higher research and development (R&D) spending, higher capital expenditure, lower working capital and more long-term debt tend to raise more capital in IPOs. These firms also spend more on R&D and capital expenditure. The results also suggest that the more the new capital firms raise in IPOs, the lower operating performance they have in subsequent years. However, firms spending more new capital on R&D and capital expenditure seem to perform better.
Originality/value
These results help us understand the behavior of IPO firms.
Details
Keywords
Bing Han, Tianze Chi, Fangjie Hu and Mengjun Wang
This paper divides the dyadic supply chain into three power structures according to the relative channel power of the supply chain members and consequently examines the optimal…
Abstract
Purpose
This paper divides the dyadic supply chain into three power structures according to the relative channel power of the supply chain members and consequently examines the optimal supply chain pricing decisions when both suppliers and retailers are concerned with fairness issues.
Design/methodology/approach
Three models are constructed, namely the Stackelberg game model with the supplier as the leader, the Nash game model with the balance of power and another Stackelberg game model with the retailer as the leader. The equilibrium solutions are solved, and their results are analyzed.
Findings
The retail price of a product increases with an increase in the fairness concerns of the leader in a supply chain in which the supplier or retailer is the leader, while the fairness concerns of the member with less channel power have no effect on the retail price. In a power-balanced supply chain, both suppliers and retailers increase their retail prices as their fairness concerns increase. The relative size of the members’ fairness concerns affects member profits and total supply chain profits.
Originality/value
The main contributions are as follows: First, this paper proposes a new approach to studying supply chain pricing strategy, considering fairness concerns and power structure. Secondly, three game models are constructed. The Nash equilibrium solution is introduced to study the fairness of supply chain participants in pricing decisions and overall supply chain profitability. Finally, the supply chain management theory is expanded by this study on pricing decisions and supply chain performance.
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Keywords
Fangfang Sun, Tianze Wang and Yong Yang
Rapid prototyping (RP) technology is widely used in many fields in recent years. Bone tissue engineering (TE) is an interdisciplinary field involving life sciences, engineering…
Abstract
Purpose
Rapid prototyping (RP) technology is widely used in many fields in recent years. Bone tissue engineering (TE) is an interdisciplinary field involving life sciences, engineering and materials science. Hydroxyapatite (HAp) are similar to natural bone and it has been extensively studied due to its excellent biocompatibility and osteoconductivity. This paper aims to review nanoscaled HAp-based scaffolds with high porosity fabricated by various RP methods for bone regeneration.
Design/methodology/approach
The review focused on the fabrication methods of HAp composite scaffolds through RP techniques. The paper summarized the evaluation of these scaffolds on the basis of their biocompatibility and biodegradability through in vitro and in vivo tests. Finally, a summary and perspectives on this active area of research are provided.
Findings
HAp composite scaffold fabricated by RP methods has been widely used in bone TE and it has been deeply studied by researchers during the past two decades. However, its brittleness and difficulty in processing have largely limited its wide application in TE. Therefore, the formability of HAp combined with biocompatible organic materials and fabrication techniques could be effectively enhanced, and it can be used in bone TE applications finally.
Originality/value
This review paper presented a comprehensive study of the various types of HAp composite scaffold fabricated by RP technologies and introduced their potential application in bone TE, as well as future roadmap and perspective.
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Keywords
Jiawei Lian, Junhong He, Yun Niu and Tianze Wang
The current popular image processing technologies based on convolutional neural network have the characteristics of large computation, high storage cost and low accuracy for tiny…
Abstract
Purpose
The current popular image processing technologies based on convolutional neural network have the characteristics of large computation, high storage cost and low accuracy for tiny defect detection, which is contrary to the high real-time and accuracy, limited computing resources and storage required by industrial applications. Therefore, an improved YOLOv4 named as YOLOv4-Defect is proposed aim to solve the above problems.
Design/methodology/approach
On the one hand, this study performs multi-dimensional compression processing on the feature extraction network of YOLOv4 to simplify the model and improve the feature extraction ability of the model through knowledge distillation. On the other hand, a prediction scale with more detailed receptive field is added to optimize the model structure, which can improve the detection performance for tiny defects.
Findings
The effectiveness of the method is verified by public data sets NEU-CLS and DAGM 2007, and the steel ingot data set collected in the actual industrial field. The experimental results demonstrated that the proposed YOLOv4-Defect method can greatly improve the recognition efficiency and accuracy and reduce the size and computation consumption of the model.
Originality/value
This paper proposed an improved YOLOv4 named as YOLOv4-Defect for the detection of surface defect, which is conducive to application in various industrial scenarios with limited storage and computing resources, and meets the requirements of high real-time and precision.
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Md Helal Miah, Jianhua Zhang and Dharmahinder Singh Chand
This paper aims to illustrate the tolerance optimization method based on the assembly accuracy constrain, precession constrain and the cost of production of the assembly product.
Abstract
Purpose
This paper aims to illustrate the tolerance optimization method based on the assembly accuracy constrain, precession constrain and the cost of production of the assembly product.
Design/methodology/approach
A tolerance optimization method is an excellent way to perform product assembly performance. The tolerance optimization method is adapted to the process analysis of the hatch and skin of an aircraft. In this paper, the tolerance optimization techniques are applied to the tolerance allocation for step difference analysis (example: step difference between aircraft cabin door and fuselage outer skin). First, a mathematical model is described to understand the relationship between manufacturing cost and tolerance cost. Second, the penalty function method is applied to form a new equation for tolerance optimization. Finally, MATLAB software is used to calculate 170 loops iteration to understand the efficiency of the new equation for tolerance optimization.
Findings
The tolerance optimization method is based on the assembly accuracy constrain, machinery constrain and the cost of production of the assembly product. The main finding of this paper is the lowest assembly and lowest production costs that met the product tolerance specification.
Research limitations/implications
This paper illustrated an efficient method of tolerance allocation for products assembly. After 170 loops iterations, it founds that the results very close to the original required tolerance. But it can easily say that the different number of loops iterations may have a different result. But optimization result must be approximate to the original tolerance requirements.
Practical implications
It is evident from Table 4 that the tolerance of the closed loop is 1.3999 after the tolerance distribution is completed, which is less than and very close to the original tolerance of 1.40; the machining precision constraint of the outer skin of the cabin door and the fuselage is satisfied, and the assembly precision constraint of the closed loop is satisfied.
Originality/value
The research may support further research studies to minimize cost tolerance allocation using tolerance cost optimization techniques, which must meet the given constrain accuracy for assembly products.
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Keywords
Surachai Chancharat and Suthasinee Suwannapak
This study investigates the short- and long-run relationship between stock prices and exchange rates in the Association of Southeast Asian Nations (ASEAN)+6 markets. In the short…
Abstract
Purpose
This study investigates the short- and long-run relationship between stock prices and exchange rates in the Association of Southeast Asian Nations (ASEAN)+6 markets. In the short run, support is found for both the theory of a goods market where exchange rates influence stock returns and portfolio balance theory, where stock returns influence exchange rates.
Design/methodology/approach
The co-integration approach of linear and nonlinear augmented autoregressive distributed lag (ARDL) models was applied to daily data from 2 January 2017 to 30 June 2023.
Findings
The findings provide evidence that the goods market theory is supported solely in Indonesia and Singapore, while the portfolio balance theory is supported for Australia, China, India and Malaysia.
Practical implications
Policymakers and investors should seriously consider the importance of the study findings. The results show that all ASEAN+6 countries experience a short-term interaction between the two markets. This illustrates that exchange rates and stock price movements play vital roles in other markets. Stakeholders, particularly policymakers, should be aware of this critical relationship.
Originality/value
This is the first study to dynamically examine how the ASEAN+6 framework influences currency rates and stock markets.