Due to its high leverage nature, a bank suffers vitally from the credit risk it inherently bears. As a result, managing credit is the ultimate responsibility of a bank. In this…
Abstract
Due to its high leverage nature, a bank suffers vitally from the credit risk it inherently bears. As a result, managing credit is the ultimate responsibility of a bank. In this chapter, we examine how efficiently banks manage their credit risk via a powerful tool used widely in the decision/management science area called data envelopment analysis (DEA). Among various existing versions, our DEA is a two-stage, dynamic model that captures how each bank performs relative to its peer banks in terms of value creation and credit risk control. Using data from the largest 22 banks in the United States over the period of 1996 till 2013, we have identified leading banks such as First Bank systems and Bank of New York Mellon before and after mergers and acquisitions, respectively. With the goal of preventing financial crises such as the one that occurred in 2008, a conceptual model of credit risk reduction and management (CRR&M) is proposed in the final section of this study. Discussions on strategy formulations at both the individual bank level and the national level are provided. With the help of our two-stage DEA-based decision support systems and CRR&M-driven strategies, policy/decision-makers in a banking sector can identify improvement opportunities regarding value creation and risk mitigation. The effective tool and procedures presented in this work will help banks worldwide manage the unknown and become more resilient to potential credit crises in the 21st century.
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Qing-Yun Deng, Shun-Peng Zhu, Jin-Chao He, Xue-Kang Li and Andrea Carpinteri
Engineering components/structures with geometric discontinuities normally bear complex and variable loads, which lead to a multiaxial and random/variable amplitude stress/strain…
Abstract
Purpose
Engineering components/structures with geometric discontinuities normally bear complex and variable loads, which lead to a multiaxial and random/variable amplitude stress/strain state. Hence, this study aims how to effectively evaluate the multiaxial random/variable amplitude fatigue life.
Design/methodology/approach
Recent studies on critical plane method under multiaxial random/variable amplitude loading are reviewed, and the computational framework is clearly presented in this paper.
Findings
Some basic concepts and latest achievements in multiaxial random/variable amplitude fatigue analysis are introduced. This review summarizes the research status of four main aspects of multiaxial fatigue under random/variable amplitude loadings, namely multiaxial fatigue criterion, method for critical plane determination, cycle counting method and damage accumulation criterion. Particularly, the latest achievements of multiaxial random/variable amplitude fatigue using critical plane methods are classified and highlighted.
Originality/value
This review attempts to provide references for further research on multiaxial random/variable amplitude fatigue and to promote the development of multiaxial fatigue from experimental research to practical engineering application.
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AiHua Zhu, AiHua Zhu, Chaochao Ma, Jianwei Yang, Xin Hou, Hongxiao Li and Peiwen Sun
Considering that a meet between high-speed trains can generate aerodynamic loads, this study aims to investigate the effect of high-speed train meet on wheel wear at different…
Abstract
Purpose
Considering that a meet between high-speed trains can generate aerodynamic loads, this study aims to investigate the effect of high-speed train meet on wheel wear at different speeds to provide a more accurate wheel wear model and a new idea for reducing wheel wear.
Design/methodology/approach
The train speed was set at 250, 300, 350 and 400 km/h separately, and a vehicle system dynamics model was constructed using the parameters of an actual high-speed train on a line. The aerodynamic forces arising from constant-speed train meet were then applied as additional excitation. Semi-Hertzian theory and Kalker’s simplified theory were used to solve the wheel/rail contact problems. The wheel wear was calculated using Archard wear model. The effect of train meet on wheel wear was analyzed for the whole train, different cars and different axles.
Findings
According to the results, all wheels show a wear increase in the case of one train meet, compared to the case of no train meet. At 250, 300, 350 and 400 km/h, the total wheel wear increases by 4.45%, 4.91%, 7.57% and 5.71%, respectively, over the entire operational period. The change in speed has a greater impact on wheel wear increase in the head and tail cars than in the middle car. Moreover, the average wear increase in front-axle wheels is 1.04–2.09 times that in rear-axle wheels on the same bogie.
Practical implications
The results will help to analyze wheel wear more accurately and provide theoretical guidance for wheel repair and maintenance from the perspective of high-speed train meet.
Originality/value
At present, there is a lot of focus on the impact of high-speed train meet on the dynamic performance of vehicles. However, little research is available on the influence of train meet on wheel wear. In this study, a vehicle dynamics model was constructed and the aerodynamic forces generated during high-speed train meet were applied as additional excitation. The effect of train meet on wheel wear was analyzed for the whole train, different cars and different axles. The proposed method can provide a more accurate basis for wear prediction and wheel repair.
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Vu Hong Son Pham and Duy Hieu Pham
This study aims to optimize the construction site layout planning (CSLP) problem, with a focus on prefabricated projects. It proposes the use of the oMOAHA algorithm, an enhanced…
Abstract
Purpose
This study aims to optimize the construction site layout planning (CSLP) problem, with a focus on prefabricated projects. It proposes the use of the oMOAHA algorithm, an enhanced version of the multi-objective artificial hummingbird algorithm (MOAHA), to address challenges related to search space exploration and local optimization in CSLP.
Design/methodology/approach
The study integrates three techniques – opposition-based learning (OBL), quasi-opposition and quasi-reflection – into the initialization phase of the MOAHA algorithm, creating the oMOAHA variant. This model is applied to all three types of CSLP problems – pre-determined location, grid system and continuous space – to evaluate its effectiveness. Six objective functions (three related to cost, two to safety and one to tower crane efficiency) and four site-related constraints are considered through three case studies taken from previous research and one real project involving prefabricated steel structures.
Findings
The oMOAHA algorithm demonstrates superior performance compared to previous models, consistently outperforming traditional approaches in CSLP optimization for prefabricated projects. In the real case study, the proposed model exceeded the actual project plan by 28–43%, indicating its potential to significantly improve both solution quality and project outcomes.
Originality/value
This study is the first to apply an optimization model to all three types of CSLP problems – pre-determined location, grid system and continuous space – within a unified framework. The integration of advanced techniques into the MOAHA algorithm and the model’s successful application in a real prefabricated project underscore its high applicability and effectiveness in modern construction management.
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Carlos Pestana Barros and Peter Wanke
This chapter analyses the efficiency of African airlines using a two-stage network DEA (Data Envelopment Analysis) model. Network DEA models usually take into account the…
Abstract
This chapter analyses the efficiency of African airlines using a two-stage network DEA (Data Envelopment Analysis) model. Network DEA models usually take into account the production process with intermediate inputs derived from the first stage and a second stage that departs from it. This fundamental feature enables one to view the airline production process as a carry-over activity. The analysis covers the 2010–2013 period. The relative efficiency ranks are presented and policy implications are derived.
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Xue-Qin Li, Lu-Kai Song and Guang-Chen Bai
To provide valuable information for scholars to grasp the current situations, hotspots and future development trends of reliability analysis area.
Abstract
Purpose
To provide valuable information for scholars to grasp the current situations, hotspots and future development trends of reliability analysis area.
Design/methodology/approach
In this paper, recent researches on efficient reliability analysis and applications in complex engineering structures like aeroengine rotor systems are reviewd.
Findings
The recent reliability analysis advances of engineering application in aeroengine rotor system are highlighted, it is worth pointing out that the surrogate model methods hold great efficiency and accuracy advantages in the complex reliability analysis of aeroengine rotor system, since its strong computing power can effectively reduce the analysis time consumption and accelerate the development procedures of aeroengine. Moreover, considering the multi-objective, multi-disciplinary, high-dimensionality and time-varying problems are the common problems in various complex engineering fields, the surrogate model methods and its developed methods also have broad application prospects in the future.
Originality/value
For the strong demand for efficient reliability design technique, this review paper may help to highlights the benefits of reliability analysis methods not only in academia but also in practical engineering application like aeroengine rotor system.
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Bingzi Jin, Xiaojie Xu and Yun Zhang
For a wide range of market actors, including policymakers, forecasting changes in commodity prices is crucial. As one of essential edible oil, peanut oil’s price swings are…
Abstract
Purpose
For a wide range of market actors, including policymakers, forecasting changes in commodity prices is crucial. As one of essential edible oil, peanut oil’s price swings are certainly important to predict. In this paper, the weekly wholesale price index for the period of January 1, 2010 to January 10, 2020 is used to address this specific forecasting challenge for the Chinese market.
Design/methodology/approach
The nonlinear auto-regressive neural network (NAR-NN) model is the forecasting method used. Forecasting performance based on various settings, such as training techniques, delay counts, hidden neuron counts and data segmentation ratios, are assessed to build the final specification.
Findings
With training, validation and testing root mean square errors of 5.89, 4.96 and 5.57, respectively, the final model produces reliable and accurate forecasts. Here, this paper demonstrates the applicability of the NAR-NN approach for commodity price predictions.
Originality/value
On the one hand, the findings may be used as independent technical price movement predictions. Conversely, they may be included in forecast combinations with forecasts derived from other models to form viewpoints of commodity price patterns for policy research.
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China's increasing income inequality might cause a series of problems, such as the slowdown of economic growth, social and economic tension, the decline of the ecological…
Abstract
Purpose
China's increasing income inequality might cause a series of problems, such as the slowdown of economic growth, social and economic tension, the decline of the ecological environment quality and the threat to citizens' health. Consequently, income inequality will inevitably affect the ecological well-being performance (EWP) level of China's provinces through the above aspects. Analyzing the impact of income inequality on EWP and its spatial spillover effects are conducive to improving the level of EWP in China. Therefore, the research purpose of this paper is to use China's provincial data from 2001 to 2017 to analyze the impact of income inequality on EWP and the spatial spillover effect based on the evaluation of the EWP value of each province.
Design/methodology/approach
At first, this study utilizes the super efficiency slacks-based measure model (Super-SBM model) to calculate the EWP values of 30 provinces in China, which can evaluate and rank the effective decision units in the SBM model and make up for the defect that the effective decision units cannot be distinguished. Then this study applies the spatial Durbin model and Tobit regression model (SDM-Tobit model) to explore the impact of income inequality and other influencing factors on EWP and the spatial spillover effects in adjacent areas.
Findings
Firstly, the average EWP in China fluctuated slightly and showed a downward trend from 2001 to 2017. In addition, the EWP values of the provinces in the western region are usually weaker than those in the eastern and central regions. Moreover, income inequality is negatively correlated with EWP, and the EWP has a spatial spillover effect, which means the EWP level in a region is affected by EWP values in the adjacent regions. Furthermore, the industrial structure and urbanization level are both negatively related to EWP, while technology level, investment openness, trade openness and education level are positively related to EWP.
Originality/value
Compared with the existing research, the possible contribution of this research is that it takes income inequality as one of the important influencing factors of EWP and adopts the SDM-Tobit model to analyze the impact mechanism of income inequality on EWP from the perspective of time and space, providing new ideas for improving the EWP of various provinces in China.
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Yunxia Zhu and Jan Ulijn
In this special issue, we present a research forum on current issues in cross cultural management in New Zealand, Australia and the Asian‐Pacific Region. Our theme is new horizons…
Abstract
In this special issue, we present a research forum on current issues in cross cultural management in New Zealand, Australia and the Asian‐Pacific Region. Our theme is new horizons in cross cultural management, which is reflected in both topic and approach. Our topics are related to the Asia Pacific Region and its relations with the rest of the world, such as with Africa (South‐Africa), America (US) and Europe (The Netherlands). They are interdisciplinary in nature; our approach focuses on promoting culture‐specific perspectives. Moreover, the research forum intends to push forward knowledge toward new boundaries by means of developing new models and paradigms for comparing cultures and management practices.