Zachary Alexander Smith and Muhammad Zubair Mumtaz
The purpose of this paper is to examine whether there is significant evidence that hedge fund managers engage in deceptive manipulation of their reported performance results.
Abstract
Purpose
The purpose of this paper is to examine whether there is significant evidence that hedge fund managers engage in deceptive manipulation of their reported performance results.
Design/methodology/approach
A model of hedge fund performance has been developed using standard regression analysis incorporating dependent lagged variables and an autoregressive process. In addition, the extreme bounds analysis technique has been used to examine the robustness and sensitivity of the explanatory variables. Finally, the conditional influence of the global stock market’s returns on hedge fund performance and the conditional return behavior of the Hedge Fund Index’s performance have been explored.
Findings
This paper begins by identifying a model of hedge fund performance using passive index funds that is well specified and robust. Next, the lag structure associated with hedge fund returns has been examined and it has been determined that it seems to take the hedge fund managers two months to integrate the global stock market’s returns into their reported performance; however, the lagged variables were reduced from the final model. The paper continues to explore the smoothing behavior by conditioning the dependent lagged variables on positive and negative returns and find that managers are conservative in their estimates of positive performance events, but, when experiencing a negative result, they seem to attempt to rapidly integrate that effect into the return series. The strength of their integration increases as the magnitude of the negative performance increases. Finally, the performance of returns for both the Hedge Fund Index and the passive indices were examined and no significant differences between the conditional returns were found.
Research limitations/implications
The results of this analysis illustrate that hedge fund performance is not all that different from the performance of passive indices included in this paper, although it does offer investors access to a unique return distribution. From a management perspective, we are reminded that we need to be cautious about hastily arriving at conclusions about something that looks different or feels different from everything else, because, at times, our preconceived notions will cause us to avoid participating in something that may add value to our organizations. From an investment perspective, sometimes having something that looks and behaves differently from everything else, improves our investment experience.
Originality/value
This paper provides a well-specified and robust model of hedge fund performance and uses extreme bounds analysis to test the robustness of this model. This paper also investigates the smoothing behavior of hedge fund performance by segmenting the returns into two cohorts, and it finds that the smoothing behavior is only significant after the hedge funds produce positive performance results, the strength of the relationship between the global stock market and hedge fund performance is more economically significant if the market has generated a negative performance result in the previous period, and that as the previous period’s performance becomes increasingly negative, the strength of the relationship between the Hedge Fund Index and the global stock market increases.
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This chapter explores the strategic integration of Industry 4.0 technologies within the SA8000 audit framework, which marks a transformative shift in ethical and socially…
Abstract
This chapter explores the strategic integration of Industry 4.0 technologies within the SA8000 audit framework, which marks a transformative shift in ethical and socially responsible practices. Released by Social Accountability International (SAI), SA8000 is a social accountability standard highly relevant in addressing labor-related issues, exerting a pivotal influence on the management of companies and supply chain sustainability. By illustrating how technology can significantly enhance efficiency, transparency, and efficacy in conducting SA8000 audits, data analytics, IoT devices, AI, and blockchain will be used in this chapter. The chapter's recommendations for managers, auditors, and employees point toward strategic management of resources, collaborative activities across different departments, and improving digital competencies. The discussion makes out a clear pathway for the effective application of Industry 4.0 in the SA8000 auditing practices, enhancing sustainability, ethics, and streamlined auditing practices that would significantly contribute to the comprehensive goals of corporate sustainability and social responsibility in today's digital era.
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Vivek Bhardwaj, R.K. Pandey and V.K. Agarwal
The purpose of this paper is to develop an energy-efficient and dynamically improved thrust ball bearing using textured race. A texture has been used on the stationary race of the…
Abstract
Purpose
The purpose of this paper is to develop an energy-efficient and dynamically improved thrust ball bearing using textured race. A texture has been used on the stationary race of the test bearing to conduct the long-duration experiment for exploring its tribological and vibrational behaviours under starved lubricating condition using micro size MoS2 blended grease. The performance behaviours of the textured race bearing have been compared with conventional bearing (i.e. having both races without textures) under the identical operating conditions for demonstrating the advantages of textured race.
Design/methodology/approach
Texture was created on stationary race of the test ball bearing (51308) using nano-second pulsed Nd: YAG laser. Performance parameters (frictional torque, temperature rise and vibrations) of textured ball bearings were measured under severe starved lubricating conditions for understanding the critical role of texture in the long duration of the test. S-type load cell and miniature accelerometer were used for measuring the frictional torque and vibration, respectively. Bulk temperature at stationary races (at the back side) of test bearings was measured in operating conditions using a non-contact infrared thermometer.
Findings
Significant reduction in frictional torque and decrease in amplitude of vibration with textured ball bearing were found even under the severe starved lubricating condition in comparison to conventional bearing.
Originality/value
There is dearth of research pertaining to the performance behaviours of ball bearings using textures on the races. Therefore, an attempt has been made in this study to explore the tribo-dynamic performance behaviours of a thrust ball bearing using a texture on its stationary race under severe starved lubricating condition for the longer duration of the test.
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Mohamed Othman and Ya Qin Song
The theory of generalized thermoelasticity, based on the Lord‐Shulman theory (LS) with one relaxation time and the Green‐Naghdi theory (GN) (of type II) without energy…
Abstract
The theory of generalized thermoelasticity, based on the Lord‐Shulman theory (LS) with one relaxation time and the Green‐Naghdi theory (GN) (of type II) without energy dissipation, as well as the classical dynamical coupled theory (CD), is used to study the electromagneto‐thermoelastic interactions in a semi‐infinite perfectly conducting solid subjected to a thermal shock on its surface. The entire elastic medium is rotating with a uniform angular velocity. There acts an initial magnetic field parallel to the plane boundary of the half‐space. The medium deformed because of thermal shock, the rotation and due to the application of the magnetic field. The normal mode analysis is used to obtain the exact expressions for the considered variables. The distributions of the variables considered are represented graphically for two different cases. From the distributions, the wave type heat propagation in the medium can be found. This indicates that the generalized heat conduction mechanism is completely different in essence from the classic Fourier’s law. Comparisons are made with the results predicted by the three theories in the presence and absence of rotation and a magnetic field.
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Laxmi Pandit Vishwakarma and Rajesh Kumar Singh
Introduction: Artificial intelligence (AI) is being extensively used to solve complex problems in the industry. AI provides several benefits such as providing visibility in the…
Abstract
Introduction: Artificial intelligence (AI) is being extensively used to solve complex problems in the industry. AI provides several benefits such as providing visibility in the processes, reducing time, improving accuracy, saving time, helping in the decision-making process, etc. Due to the range of benefits of AI technologies, organisations readily adopt this technology. However, there are several challenges that the organisation faces during the implementation of AI. These challenges are in context to human resource (HR) development for successful implementation of AI across different functions and are discussed in this chapter.
Purpose: Although we know that AI technology is widely accepted in human resource management (HRM) due to its various benefits. But the organisations face many challenges during the implementation of AI. The focus of the study is to explore the literature on AI in HRM, identify the challenges of implementing AI and provide potential future research direction based on a systematic literature review.
Methodology: To explore the literature on AI in HRM, the study undertakes a systematic literature review. The study identifies, analyse and classifies the literature to provide a holistic view of HR challenges in implementing AI. The study is built on a review of 47 documents, including the articles, book chapters and conference papers using the Scopus database for the past 10 years (2012–27 January 2022).
Findings: The study provides an overview of the documents published in Scopus in this area through a systematic literature review. The study reveals that a significant amount of growth in the publication has been shown in the past 10 years. The maximum and continuous growth is shown after 2017. The maximum number of papers are published in India, the USA and China. The study identifies major eight challenges of AI implementation in HRM. The study also provides a secondary case to deep dive in this area based on a systematic literature review.
Research Limitation/Implication: The challenges identified in the study are not empirically tested. Each of the identified challenges should be empirically examined. This study has expanded the body of knowledge of AI in HRM. This study will help the academicians and practitioners work on the identified challenges and help the organisations ease in adopting AI.
Originality/Value: This study represents the first work that integrates AI implementation challenges in HRM.
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Sucheta Agarwal, Veland Ramadani, Leo-Paul Dana, Vivek Agrawal and Jitendra Kumar Dixit
The ascent of women enterprising community (WEC) in a couple of decades draws the attention of various government and non-government bodies. Literature has mentioned various…
Abstract
Purpose
The ascent of women enterprising community (WEC) in a couple of decades draws the attention of various government and non-government bodies. Literature has mentioned various studies that focus on the factors affecting the success or failure of women entrepreneurs (WEs), but understanding of the ranking of the factors depending on the experiences of different WEs is needed. This study aims to identify the significant factors essential for the growth of WEC.
Design/methodology/approach
This study examines the factors through interview of 33 WEs having different entrepreneurial experiences (less than 1 year, more than 1 year but less than 10 years and more than 10 years of experiences) from different regions of Uttar Pradesh, India, and with the help of analytical hierarchical process, ranks the factors affecting the sustainable growth of WEs.
Findings
Through analysis, significant factors have been identified such as determination, education, entrepreneurial resilience, personal satisfaction and provide employment, and these factors have been analysed according to the different experiences of WEs. An investigation of ranking these factors of WEC, especially in the emerging nations, can assist policymakers in designing projects that improve the mindfulness associated with women enterprise and define the compelling methodologies.
Practical implications
The growth of the WEC is significantly affected by gender orientation ways of thinking as driven by entrepreneurship models.
Originality/value
This study gives a direction to policymakers by emphasizing on significant factors of various stages of enterprise development for the encouragement of WEs in the emerging economies.
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With the most recent change in the industrial model toward the Fourth Industrial Revolution, or Industry 4.0, the advancements in digitalization and information and communication…
Abstract
With the most recent change in the industrial model toward the Fourth Industrial Revolution, or Industry 4.0, the advancements in digitalization and information and communication technology (ICT) have opened up opportunities for a smart logistics revolution. A comprehensive conceptualization that directs the rapidly approaching structural shift in reverse logistics is currently lacking, despite the fact that the research has been focusing intensively on improving the intelligence, autonomy, and connection of isolated logistical operations with an emphasis on the forward channels. To address this gap, this conceptual chapter offers a thorough analysis of the technological implications of the Fourth Industrial Revolution on the reverse logistics process in addition to a comprehensive definition of reverse logistics 4.0.
This chapter explores the dynamic intersection of reverse logistics, closed-loop systems, and Industry 4.0 technologies within the supply chains of the United Arab Emirates. By explicating the critical role of Industry 4.0, in the promotion of sustainability, the goal of this chapter is to facilitate UAE supply chain participants to adopt creative approaches to sustainable resource management. This study also contributes to the wider global discussion on sustainable supply chain management techniques, opening avenues for an ecologically friendly and resource-conscious industrial environment in the United Arab Emirates.
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Sucheta Agarwal, Vivek Agrawal, Veland Ramadani, Jitendra Kumar Dixit and Shqipe Gërguri-Rashiti
During the different phases of enterprise creation, entrepreneurial learning (EL) can be understood as an effective process. This study aims to find out the cause-and-effect…
Abstract
Purpose
During the different phases of enterprise creation, entrepreneurial learning (EL) can be understood as an effective process. This study aims to find out the cause-and-effect relationships of the factors that are impacting EL.
Design/methodology/approach
This research has been conducted in two ways: first, the factors are identified through a systematic analysis of EL, and second, the cause-and-effect relationship among EL factors is analyzed using decision-making trial and evaluation laboratory, which is dependent on the opinion of experts. A network relationship matrix is also drawn from the measured factors.
Findings
A causal relationship has been established within the identified EL factors. Results indicate that educators and practitioners should focus and concentrate on the cause group-related factors, which are entrepreneurship education, entrepreneurial training, entrepreneurial competencies, experiences, family influence and role models. The remaining two, entrepreneurial perception and entrepreneurial willingness, are identified as being in the effect group. These two factors are affected and influenced by the cause group factors.
Research limitations/implications
By recognizing the multidimensionality of EL, this study gives the chance to look at what it means to be an entrepreneur from both a personal and a social point of view, including learning styles, learning from mistakes and self-regulated learning. Future research is urged to build tools that accurately capture this crucial factors of EL, thus allowing the field to gain greater integration and information accumulation.
Originality/value
Researchers have previously described factors that influence EL, but to the best of the authors’ knowledge, this is one of few studies that depict the cause-and-effect relationship between EL factors. These factors are critical to the growth of talented entrepreneurs in both developed and developing countries for promoting an entrepreneurial culture.
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Veerendra Anchan, Rahul Manmohan, Vernika Agarwal and Arshia Kaul
This study aims to examine the obstacles and approaches to achieving sustainable development in India’s cement solid and hollow brick production business, with a specific emphasis…
Abstract
Purpose
This study aims to examine the obstacles and approaches to achieving sustainable development in India’s cement solid and hollow brick production business, with a specific emphasis on incorporating the triple bottom line (TBL) concept into strategies for small and medium-sized enterprises (SMEs).
Design/methodology/approach
Using the step-wise weight assessment ratio analysis (SWARA)–weighted aggregated sum product assessment (WASPAS) approach, the study prioritized 11 economic, 9 environmental and 14 social sustainability indicators based on information collected from literature and expert opinions.
Findings
The study provides valuable insights into the difficulties encountered by SMEs while implementing strategies that focus on the TBL. By putting emphasis on the sustainability criteria, the key areas that require attention to promote sustainability get identified and addressed.
Research limitations/implications
The study’s focus on SMEs in this industry limits its generalizability. To have a more complete picture, future studies may include many areas.
Practical implications
The identified and prioritized sustainability characteristics help small and medium-sized firms (SMEs) design strategies to address sustainable development concerns. The research findings could also inform policymakers and regulatory bodies about the challenges faced by SMEs in the cement and brick production sector regarding sustainability. It could highlight the need for supportive policies and regulations to promote sustainable practices and incentivize SMEs to adopt the TBL approach. The paper can offer practical insights for SME owners and managers on integrating sustainability principles into their business strategies. Actionable recommendations and best practices for enhancing environmental performance, social impact, and economic viability within the context of cement and brick production are outlined.
Social implications
TBL policies improve the sustainability and profitability of small and medium-sized firms (SMEs) and promote environmentally and socially responsible practices that benefit the industry and society. The research paper may facilitate greater engagement and collaboration among various stakeholders involved in the cement and brick production industry, including SMEs, larger corporations, government agencies, non-governmental organizations (NGOs), and local communities. This cooperative approach can encourage open communication, the establishment of trust and coordinated actions to tackle sustainability challenges, ultimately improving social cohesion, and collaboration.
Originality/value
This study provides new and valuable insights by investigating the development of TBL strategies in SMEs in the cement solid and hollow brick manufacturing sector in India. The utilization of the SWARA–WASPAS technique brings novelty to research on sustainable development in this field.