Using fractional GM(1,1) model to predict the life of complex equipment

2016 ◽  
Vol 6 (1) ◽  
pp. 32-40 ◽  
Author(s):  
Lifeng Wu
Keyword(s):  
Design Methodology ◽  
Small Samples ◽  
Percentage Error ◽  
Improve Performance ◽  
Content Type ◽  
Memory Processes ◽  
Gray System ◽  
Out Of Sample ◽  
Complex Equipment ◽  
Practical Implications

Purpose – The purpose of this paper is to improve performance for predicting the life spans of complex equipment systems. Design/methodology/approach – The gray system model with fractional order accumulation (FGM(1,1)) is used to predict the life spans of complex equipment systems using small samples. Findings – FGM(1,1) yielded a lower mean absolute percentage error (MAPE) for an in-sample and a much lower MAPE for an out-of-sample forecast, which means that FGM(1,1) can predict memory processes. Practical implications – FGM(1,1) can predict the life spans of other complex equipment. Originality/value – FGM(1,1) yielded a lower MAPE for an in-sample and a much lower MAPE for out-of-sample forecasts, which means that FGM(1,1) can predict memory processes.

Initiating, challenging and improving knowledge in organizational contexts

2018 ◽  
Vol 41 (3) ◽  
pp. 278-295 ◽  
Author(s):  
Stefania Mariano
Keyword(s):  
Design Methodology ◽  
Organizational Knowledge ◽  
Current Debate ◽  
Improve Performance ◽  
Content Type ◽  
Organizational Contexts ◽  
Managerial Practices ◽  
Practical Implications ◽  
Over Time

Purpose The purpose of this study is to investigate how organizational knowledge interacts with artifacts and what determinants, driving processes and outcomes govern these interactions in organizational contexts. Design/methodology/approach A case study is used and data collected is from a US engineering and consulting company. Findings Findings suggested three major driving processes specifically initiating, challenging and improving and several related determinants and outcomes that governed the interaction between organizational knowledge and artifacts over time. Research limitations/implications This study has limitations related to the nature and dimension of the case selected. Practical implications This study provides a means to explain how organizations hold existing knowledge and what determinants, driving processes and outcomes govern the interactions between knowledge and artifacts to assist managerial practices and improve performance. Originality/value This paper contributes to the current debate on organizational knowledge and provides some empirical evidence of how knowledge interacts with artifacts in organizational contexts.

“The lost decade”: an MPT perspective

2015 ◽  
Vol 41 (11) ◽  
pp. 1202-1220 ◽  
Author(s):  
Anthony Loviscek
Keyword(s):  
Design Methodology ◽  
Annual Rate ◽  
Rate Of Return ◽  
Average Risk ◽  
Monthly Data ◽  
Content Type ◽  
Core Set ◽  
Out Of Sample ◽  
Lost Decade ◽  
Practical Implications

Purpose – The purpose of this paper is to test the efficacy of an application of modern portfolio theory (MPT) from 2000 through 2009, a period during which the annual rate of return on the S & P 500 is negative. The financial media have called this period “the lost decade” for investors. Design/methodology/approach – Using monthly data, the author uses a series of annual out-of-sample tests to compare the risk-reward performances of MPT portfolios against those of the S & P 500. Findings – The author finds that the MPT portfolios outperformed the S & P 500. During the “lost decade”. They generated a cumulative return of over 77 percent compared to a cumulative return of −9.1 percent on the S & P 500. Moreover, the MPT portfolio β’s are low, ranging from 0.45 to 1.01, suggesting above-average risk-reward performances. Research limitations/implications – The MPT portfolios are relatively small, and might not be well diversified. That said, they comprise a core set of securities that could help investors achieve a risk-reward performance that exceeds that of the S & P 500. Practical implications – The results suggest that investors should not overlook the potential of MPT, despite its theoretical and practical limitations, to provide above-average returns at below-average risks. Originality/value – This is the first study to show the efficacy of MPT during a period in which it was criticized at having failed investors when they needed it most.

Divestiture of prior acquisitions: competing explanations of performance

2019 ◽  
Vol 13 (1) ◽  
pp. 33-50
Author(s):  
Sina Amiri ◽  
David King ◽  
Samuel DeMarie
Keyword(s):  
Design Methodology ◽  
High Technology ◽  
Positive Relation ◽  
Multiple Perspectives ◽  
Press Releases ◽  
Improve Performance ◽  
Content Type ◽  
Public Firms ◽  
Treat All ◽  
Practical Implications

Purpose There are multiple perspectives of divestiture and its performance that require reconciliation. While research finds a positive market response to divestment announcement, divestiture of prior acquisitions are generally viewed negatively. The purpose of this paper is to develop and empirically test different explanations for the divestment of prior acquisitions. Design/methodology/approach This research employs event study to capture market reaction at acquisition announcement and subsequent divestments in a sample of 69 public US high-technology acquisitions between 2003 and 2008 that were divested by 2015. Only initial acquisitions involving public firms were included from the Thomson One Banker SDC database. Public press releases and companies’ SEC filings were reviewed to track divestitures back to prior acquisitions. Ordinary least squared regression was used to estimate coefficients. Findings Results indicate a positive relation between acquisition and divestiture performance around announcement dates. This finding rejects the correction of mistake explanation, suggesting that a negative stigma surrounding divestments is largely unwarranted and that investors reward capable acquirer’s divestiture decisions. Practical implications Investors do not treat all information signals at divestiture equally. For example, acquisitions made by larger and more profitable firms, or acquisitions paid for with stock, are associated with lower return upon divestiture announcement. Originality/value This study finds that investors view divestiture as a proactive strategy, suggesting firms can improve performance by actively managing acquisitions and divestments to optimize their portfolio of businesses.

How a firm’s competitive strategy can improve performance

2019 ◽  
Vol 35 (2) ◽  
pp. 16-18
Keyword(s):  
Competitive Strategy ◽  
Design Methodology ◽  
Small And Medium Enterprises ◽  
Improve Performance ◽  
Content Type ◽  
Cost Leadership ◽  
Pertinent Information ◽  
Medium Enterprises ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Pursuing an appropriate strategy can enable micro, small, and medium enterprises in developing countries to significantly improve their performance. Such firms should typically be best served by a cost leadership competitive strategy, the impact of which can be increased through an emphasis on key components of quality management. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

Following the Finnish way

2018 ◽  
Vol 34 (3) ◽  
pp. 22-24
Keyword(s):  
Knowledge Management ◽  
Local Government ◽  
Design Methodology ◽  
Reading Time ◽  
Improve Performance ◽  
The West ◽  
Content Type ◽  
Global Citizens ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings The way local government works in the West is changing to suit the needs of global citizens. Effective knowledge management holds the key to how local government can improve performance to provide what is needed without encountering the issues previous governments have faced. Originality/value The briefing saves busy executives, strategists and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

HR powers turn-around at Talcher thermal plant

2014 ◽  
Vol 22 (4) ◽  
pp. 16-18 ◽  
Author(s):  
Chandan Kumar Sahoo
Keyword(s):  
Performance Management ◽  
Design Methodology ◽  
Employee Involvement ◽  
Thermal Power ◽  
Improve Performance ◽  
Content Type ◽  
Thermal Plant ◽  
Hr Management ◽  
Working Practices ◽  
Practical Implications

Purpose – The purpose of this paper id to observe how imaginative human resource (HR) management has helped overcome resistance and improve performance following the takeover of the Talcher thermal power station in Odisha, India, by central government’s National Thermal Power Corporation (NTPC). Design/methodology/approach – Explores how a performance-management system, training and employee-involvement schemes have helped to reconcile the workforce to working practices designed to increase production and return the plant to profit. Findings – This paper explains that HR is now run in a more codified and less capricious way. Practical implications – This paper reveals that the plant, which now provides one of the cheapest sources of thermal power in India, is contributing to the overall wealth of the state in which it is situated. Social implications – It examines, in particular, how employee involvement is helping calm workforce fears over restructuring. Originality/value – It provides the inside story of the turn-around at an Indian power plant.

Maximizing the value generated for shareholders

2018 ◽  
Vol 34 (5) ◽  
pp. 22-24
Keyword(s):  
Case Studies ◽  
Open Innovation ◽  
Design Methodology ◽  
Reading Time ◽  
Cutting Edge ◽  
Successful Implementation ◽  
Improve Performance ◽  
Content Type ◽  
Pertinent Information ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context. Findings Companies can add considerable value by engaging in different forms of open innovation. Focusing on factors that most impact on this approach enables successful implementation of the strategy to improve performance and maximize returns to shareholders. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

The age of Agile

2017 ◽  
Vol 45 (1) ◽  
pp. 3-10 ◽  
Author(s):  
Stephen Denning
Keyword(s):  
Performance Improvement ◽  
Financial Engineering ◽  
Design Methodology ◽  
Front Line ◽  
Exploration And Exploitation ◽  
Improve Performance ◽  
Content Type ◽  
Scalable Learning ◽  
Agile Model ◽  
Practical Implications

Purpose Because too many firms are stuck on the treadmill of producing quarterly returns, often to be achieved through financial engineering, a new management mindset is needed set them to exploring new opportunities through innovation. Design/methodology/approach A new kind of management is emerging–called the Agile model– in which firms emphasize searching out opportunities, finding solutions through rapid experimentation, and achieving agility through decisiveness. Findings In organizations that have implemented the Agile model Agile, the distinction between exploration and exploitation tends to blur and even dissolve. Those involved in exploitation are also continuously looking for ways to improve performance. Those involved in exploration and development are continuously seeking ways to deliver value to customers sooner Practical implications Agile managements are learning to shift from scalable efficiency to scalable learning, where everyone is driven by the need to learn faster and accelerate performance improvement Originality/value This overview of how explains how all members of a organization–from the CEO to the front-line worker–will need to be involved in the implementation of the Agile model.

The power of organizational identity

2019 ◽  
Vol 35 (5) ◽  
pp. 22-24
Keyword(s):  
Competitive Advantage ◽  
Case Studies ◽  
Design Methodology ◽  
Reading Time ◽  
Valuable Resource ◽  
Improve Performance ◽  
Content Type ◽  
Pertinent Information ◽  
The Impact ◽  
Practical Implications

Purpose This paper aims to review the latest management developments across the globe and pinpoint practical implications from cutting-edge research and case studies. Design/methodology/approach This briefing is prepared by an independent writer who adds his/her own impartial comments and places the articles in context. Findings The uniqueness of a firm’s identity can help improve performance and secure a lasting competitive advantage. Managers are able to use a three-step framework to recognize different identity traits and the relevant actions needed to optimize the impact of this valuable resource. Originality/value The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy-to-digest format.

scholarly journals Dynamic risk-based optimization on cryptocurrencies

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bayu Adi Nugroho
Keyword(s):  
Transaction Cost ◽  
Dynamic Optimization ◽  
Design Methodology ◽  
Minimum Variance ◽  
Multivariate Garch ◽  
Optimization Strategy ◽  
Content Type ◽  
Out Of Sample ◽  
Rolling Windows ◽  
Practical Implications

PurposeIt is crucial to find a better portfolio optimization strategy, considering the cryptocurrencies' asymmetric volatilities. Hence, this research aimed to present dynamic optimization on minimum variance (MVP), equal risk contribution (ERC) and most diversified portfolio (MDP).Design/methodology/approachThis study applied dynamic covariances from multivariate GARCH(1,1) with Student’s-t-distribution. This research also constructed static optimization from the conventional MVP, ERC and MDP as comparison. Moreover, the optimization involved transaction cost and out-of-sample analysis from the rolling windows method. The sample consisted of ten significant cryptocurrencies.FindingsDynamic optimization enhanced risk-adjusted return. Moreover, dynamic MDP and ERC could win the naïve strategy (1/N) under various estimation windows, and forecast lengths when the transaction cost ranging from 10 bps to 50 bps. The researcher also used another researcher's sample as a robustness test. Findings showed that dynamic optimization (MDP and ERC) outperformed the benchmark.Practical implicationsSophisticated investors may use the dynamic ERC and MDP to optimize cryptocurrencies portfolio.Originality/valueTo the best of the author’s knowledge, this is the first paper that studies the dynamic optimization on MVP, ERC and MDP using DCC and ADCC-GARCH with multivariate-t-distribution and rolling windows method.

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