Kuo-Ping Lin, Chun-Min Yu and Kuen-Suan Chen
The purpose of this paper is to establish mechanisms for process improvement so that production efficiency and product quality can be expected, and create a sustainable…
Abstract
Purpose
The purpose of this paper is to establish mechanisms for process improvement so that production efficiency and product quality can be expected, and create a sustainable development in terms of circular economy.
Design/methodology/approach
The authors obtain a critical value from statistical hypothesis testing, and thereby construct a process capability indices chart, which both lowers the chance of quality level misjudgment caused by sampling error and provides reference for the processes improvement in poor quality levels. The authors used the bottom bracket of bicycles as an example to demonstrate the model and methods proposed in this study.
Findings
This approach enables us to plot multiple quality characteristics, despite varying attributes and specifications, onto the same process capability analysis chart. And it therefore increases accuracy and precision to reduce rework and scrap rates (reduce), increase product availability, reduce maintenance frequency and increase reuse (reuse), increase the recycle rates of components (recycle) and lengthen service life, which will delay recovery time (recovery).
Originality/value
Parts manufacturers in the industry chain can upload their production data to the cloud platform. The quality control center of the bicycle manufacturer can utilized the production data analysis model to identify critical-to-quality characteristics. The platform also offers reference for improvement and adds the improvement achievements and experience to its knowledge management to provide the entire industry chain. Feedback is also given to the R&D department of the bicycle manufacturer as reference for more robust product designs, more reasonable tolerance designs, and selection criteria for better parts suppliers, thereby forming an intelligent manufacturing loop system.
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Xiaoyue Chen, Bin Li, Tarlok Singh and Andrew C. Worthington
Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure…
Abstract
Purpose
Motivated by the significant role of uncertainty in affecting investment decisions and China's economic leadership in Asia, this paper investigates the predictive role of exposure to Chinese economic policy uncertainty at the individual stock level in large Asian markets.
Design/methodology/approach
We estimate the monthly uncertainty exposure (beta) for each stock and then employ the portfolio-level sorting analysis to investigate the relationship between the China’s uncertainty exposure and the future returns of major Asian markets over multiple trading horizons. The raw returns of the high-minus-low portfolios are then adjusted using conventional asset pricing models to investigate whether the relationship is explained by common risk factors. Finally, we check the robustness of the portfolio-level results through firm-level Fama and MacBeth (1973) regressions.
Findings
Applying portfolio-level sorting analysis, we reveal that exposure to Chinese uncertainty is negatively related to the future returns of large stocks over multiple trading horizons in Japan, Hong Kong and India. We discover this is unexplained by common risk factors, including market, size, value, profitability, investment and momentum, and is robust to the specification of stock-level Fama and MacBeth (1973) regressions.
Research limitations/implications
Our analysis demonstrates the spillover effects of Chinese economic policy uncertainty across the region, provides evidence of China's emerging economic leadership, and offers trading strategies for managing uncertainty risks.
Originality/value
The findings of the study significantly improve our understanding of stock return predictability in Asian markets. Unlike previous studies, our results challenge the leading role of the US by providing a new intra-regional return predictor, namely, China’s uncertainty exposure. These results also evidence the continuing integration of the Asian economy and financial markets. However, contrary findings for some Asian markets point toward certain market-specific features. Compared with market-level research, our analysis provides deeper insights into the performance of individual stocks and is of particular importance to investors and other market participants.
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Sheng Zhang, Peng Lan, Hai-Chao Li, Chen-Xi Tong and Daichao Sheng
Prediction of excess pore water pressure and estimation of soil parameters are the two key interests for consolidation problems, which can be mathematically quantified by a set of…
Abstract
Purpose
Prediction of excess pore water pressure and estimation of soil parameters are the two key interests for consolidation problems, which can be mathematically quantified by a set of partial differential equations (PDEs). Generally, there are challenges in solving these two issues using traditional numerical algorithms, while the conventional data-driven methods require massive data sets for training and exhibit negative generalization potential. This paper aims to employ the physics-informed neural networks (PINNs) for solving both the forward and inverse problems.
Design/methodology/approach
A typical consolidation problem with continuous drainage boundary conditions is firstly considered. The PINNs, analytical, and finite difference method (FDM) solutions are compared for the forward problem, and the estimation of the interface parameters involved in the problem is discussed for the inverse problem. Furthermore, the authors also explore the effects of hyperparameters and noisy data on the performance of forward and inverse problems, respectively. Finally, the PINNs method is applied to the more complex consolidation problems.
Findings
The overall results indicate the excellent performance of the PINNs method in solving consolidation problems with various drainage conditions. The PINNs can provide new ideas with a broad application prospect to solve PDEs in the field of geotechnical engineering, and also exhibit a certain degree of noise resistance for estimating the soil parameters.
Originality/value
This study presents the potential application of PINNs for the consolidation of soils. Such a machine learning algorithm helps to obtain remarkably accurate solutions and reliable parameter estimations with fewer and average-quality data, which is beneficial in engineering practice.
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Tong Chen, Gnel Gabrielyan, Mitsuru Shimizu and Ping Qing
The purpose of this research is to investigate how biofortification claims impact consumer food taste inference and purchase intention. Based on the halo effect, the authors…
Abstract
Purpose
The purpose of this research is to investigate how biofortification claims impact consumer food taste inference and purchase intention. Based on the halo effect, the authors propose that food products with biofortification claims are inferred to taste better than regular foods. Due to this inference, biofortification claims subsequently improve purchase intention.
Design/methodology/approach
To examine these predictions, the authors conducted three between-subject design lab experiments featuring three staple foods: corn soup (β-carotene biofortification claim present or not), cooked rice (zinc biofortification claim present or not) and uncooked rice (zinc biofortification claim present or not). Participants were randomly assigned to one of two bioproduction claim conditions (present vs absent). Then, taste inference, purchase intention, consumer characteristics and confounding variables were measured.
Findings
In Experiment 1, the results showed that biofortification claims indeed appeared to evoke a heuristic halo effect, in which foods with biofortification claims were inferred to taste better than regular food. In Experiment 2, the results showed that participants had more intention to purchase foods with biofortification claims than regular food. The mediation effect of taste inference between biofortification claims and purchase intention was examined. In Experiment 3, the data further showed that this halo effect was more pronounced when consumers held a higher preference (vs lower preference) for the enriched nutritional element.
Originality/value
Biofortification claims have commonly been viewed solely as information about nutrition value for consumers. However, little is known about how biofortification claims impact hedonic consumer expectations. In this paper, the authors find that biofortification claims alone can impact consumer food taste inference, as nutritional information is not related to actual food taste. These findings extend the authors’ understanding of the psychological mechanism behind consumer attitudes towards biofortification.
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This chapter introduces the concept of stablecoins such as Tether, DAI, or Ampleforth. It also provides a taxonomy of the different types of stablecoins consisting of (1…
Abstract
This chapter introduces the concept of stablecoins such as Tether, DAI, or Ampleforth. It also provides a taxonomy of the different types of stablecoins consisting of (1) traditional asset-backed stablecoins, (2) crypto-collateralized stablecoins, and (3) algorithmic stablecoins and seigniorage shares. The chapter continues with a brief history of stablecoins, starting from BitShares as the first stablecoin implementation over tether and market-wide stablecoin adoption to Facebook-initiated Diem. Next, the chapter explains the impact of stablecoins on cryptocurrencies and other markets and discusses trends and challenges facing stablecoins. The chapter provides a basic understanding of stablecoins, their defining characteristics, challenges, and markets.
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Frista Frista, Sidharta Utama and Sylvia Veronica Siregar
Purpose: This paper aims to study the impact of adoption eXtensible Business Reporting Language (XBRL) on earnings management.Design/methodology/approach: This study uses a sample…
Abstract
Purpose: This paper aims to study the impact of adoption eXtensible Business Reporting Language (XBRL) on earnings management.
Design/methodology/approach: This study uses a sample of all firms listed on the Indonesian stock exchange, except for finance and real-estate sectors from 2012 to 2019, with a total of 2,560 firms–years with panel data analysis.
Findings: Four findings in this study are listed as follow. First, the surprising result is that accrual earnings management increase after the adoption of XBRL. Second, after the adoption of XBRL, there was an increase in real earnings management. Third, the results of the study prove that the use of Big 4 auditors will weaken the increase in real earnings management after the adoption of XBRL. Finally, this study shows that after the adoption of XBRL, it turns out that both accrual and real earnings management experienced an increase.
Originality/value: This study contributes to providing an evaluation note to IDX regulators that the goals they want to achieve have not been achieved. This study provides empirical evidence for the debate over whether the adoption of XBRL is beneficial.
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Jeh‐Nan Pan, Tzu‐Chun Kuo and Abraham Bretholt
The purpose of this research is to develop a new key performance index (KPI) and its interval estimation for measuring the service quality from customers' perceptions, since most…
Abstract
Purpose
The purpose of this research is to develop a new key performance index (KPI) and its interval estimation for measuring the service quality from customers' perceptions, since most service quality data follow non‐normal distribution.
Design/methodology/approach
Based on the non‐normal process capability indices used in manufacturing industries, a new KPI suitable for measuring service quality is developed using Parasuraman's 5th Gap between customers' expectation and perception. Moreover, the confidence interval of the proposed KPI is established using the bootstrapping method.
Findings
The quantitative method for measuring the service quality through the new KPI and its interval estimation is illustrated by a realistic example. The results show that the new KPI allows practising managers to evaluate the actual service quality level delivered within each of five SERVQUAL categories and prioritize the possible improvement projects from customers' perspectives. Moreover, compared with the traditional method of sample size determination, a substantial amount of cost savings can be expected by using the suggested sample sizes.
Practical implications
The paper presents a structured approach of opportunity assessment for improving service quality from a strategic alignment perspective, particularly in the five dimensions: tangibles, reliability, responsiveness, assurance, and empathy. The new approach provides practising managers with a decision‐making tool for measuring service quality, detecting problematic situations and selecting the most urgent improvement project. Once the existing service problems are identified and improvement projects are prioritized, it can lead to the direction of continuous improvement for any service industry.
Originality/value
Given a managerial target on any desired service level as well as customers' perceptions and expectations, the new KPI could be applied to any non‐normal service quality and other survey data. Thus, the corporate performance in terms of key factors of business success can also be measured by the new KPI, which may lead to managing complexities and enhancing sustainability in service industries.
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Procedures can be categorized as certain surgeries based on their necessity and outcomes while others are classified as uncertain surgeries based on these areas. To account for…
Abstract
Purpose
Procedures can be categorized as certain surgeries based on their necessity and outcomes while others are classified as uncertain surgeries based on these areas. To account for this variance, policies such as the Affordable Care Act (ACA) call for health care providers to engage in shared decision making (SDM) with patients to ensure they are informed of treatment options and asked their preferences. Yet, gender may influence the decision-making process. Thus, this project examines the decision process and how gender impacts patients’ participation in decisions to undergo certain surgeries compared to uncertain surgeries.
Methodology/approach
This research project analyzed data from the National Survey of Medical Decisions 2006–2007 which surveyed the medical decisions of US residents 40 and older.
Findings
First, the data reveals that women felt more informed having uncertain surgeries compared to men. Second, patients were less likely asked their preference for surgery when undergoing certain surgeries compared to uncertain surgeries. Third, compared to men, women having uncertain surgeries were less likely to make the final decision to have surgery, compared to sharing the final decision with health care providers.
Limitations
Due to the sample size, this project could not perform three-way interactions between gender, race, and surgery type.
Originality/value
Gender influences the level patients feel informed having uncertain surgeries. Though policy calls for SDM, health care providers are less likely to ask patients their preference for surgery regarding certain surgeries, relative to uncertain surgeries. Gender impacts the final decision-making process regarding whether patients should have uncertain surgeries.
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Elena G. Popkova and Bruno S. Sergi
The purpose of this chapter is to determine the optimal path of development of social entrepreneurship in Russia and Central Asian countries by performing a scenario analysis of…
Abstract
The purpose of this chapter is to determine the optimal path of development of social entrepreneurship in Russia and Central Asian countries by performing a scenario analysis of the development of social entrepreneurship and analyzing the opinions of interested parties regarding the outcome of social entrepreneurship in Russia and Central Asian states. The authors’ recommendations for the practical implementation of the optimal path of social entrepreneurship development are described.
The scenario analysis of statistical data showed that the existing practice of standardization of social companies’ activities hinders their executing their functions on raising the quality of life. With the expansion of freedom of social entrepreneurship, the population’s quality of life grows; on the contrary, the increase of state regulation leads to its reduction. The findings show that social entrepreneurship in Russia and Central Asian countries is interested in private investments and social companies’ employees. That is why the representatives of these categories of concerned parties support de-regulation. Consumers of social goods and services are interested in obtaining them freely and thus prefer standardization.
This chapter presents a new direction of social entrepreneurship analysis – by determining the correlation between economic freedom and quality of life. This opens an opportunity for thorough social entrepreneurship research based on authentic and objective quantitative (statistical) data. The obtained conclusions and offered recommendations allow using the mechanism of public–private entrepreneurship for turning social entrepreneurship into something more valuable and useful – a tool for increasing the quality of the population’s life.