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Article
Publication date: 11 September 2017

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…

711

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

Managerial Finance, vol. 43 no. 9
Type: Research Article
ISSN: 0307-4358

Keywords

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Article
Publication date: 19 December 2024

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…

36

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.

Details

Management Decision, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 23 October 2021

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…

326

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.

Details

Rapid Prototyping Journal, vol. 28 no. 3
Type: Research Article
ISSN: 1355-2546

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Article
Publication date: 2 December 2021

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…

431

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.

Details

Assembly Automation, vol. 42 no. 1
Type: Research Article
ISSN: 0144-5154

Keywords

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Article
Publication date: 23 November 2021

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.

136

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.

Details

Aircraft Engineering and Aerospace Technology, vol. 94 no. 3
Type: Research Article
ISSN: 1748-8842

Keywords

Available. Open Access. Open Access
Article
Publication date: 15 October 2024

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…

683

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.

Details

Journal of Asian Business and Economic Studies, vol. 31 no. 5
Type: Research Article
ISSN: 2515-964X

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