scholarly journals Capital Expenditure and Operating Efficiency from Vertical Integration in the Global Semiconductor Industry

2021 ◽  
Author(s):  
Guangshun Qiao
Keyword(s):  
Vertical Integration ◽  
Capital Expenditure ◽  
Semiconductor Industry ◽  
Operating Efficiency ◽  
Production Frontier ◽  
Fixed Input ◽  
Distance Estimator ◽  
Integrated Device ◽  
The Impact ◽  
Capital Intensive

Abstract This paper uses a nonparametric production frontier approach to investigate the operating efficiency differences by the impacts of business model and capital expenditure in the global semiconductor industry. Handling the impact of capital expenditure as fixed input by the directional distance estimator, this study compares the operating efficiencies between the integrated device manufacturers and the fabless and foundry firms in the global semiconductor industry over 1999–2018. The estimation results indicate that vertically integrated manufacturers dominate the semiconductor industry, and the capital-intensive companies operate more efficiently than the asset-light fabless firms on average.

scholarly journals Vertical integration vs. specialization: a nonparametric conditional efficiency estimate for the global semiconductor industry

2021 ◽  
Author(s):  
Guangshun Qiao ◽  
Zhan-ao Wang
Keyword(s):  
Business Model ◽  
Vertical Integration ◽  
Capital Investment ◽  
Business Models ◽  
Semiconductor Industry ◽  
Operating Performance ◽  
Nonparametric Approach ◽  
Second Stage ◽  
Integrated Device ◽  
The Impact

AbstractThis paper applies a two-stage nonparametric approach to compare companies operating in different business models in the global semiconductor industry. Using panel data over 1999–2018 on 470 companies in the global semiconductor industry, we explore the operating performance of the semiconductor companies conditional on capital investment and between the integrated device manufacturers and the fabless-foundry business model. We find that vertically integrated device manufacturers are constrained heavily by capital investment. Disentangling the effects of capital investment and business model by a second-stage nonparametric regression, this paper identifies that the vertically specialized fabless-foundry business model helps to improve pure efficiency and mitigate the impact of business-cycle in the global semiconductor industry.

Faktor-faktor yang Mempengaruhi Belanja Modal pada Kabupaten atau Kota di Provinsi Sumatera Selatan

2018 ◽  
Vol 2 (1) ◽  
pp. 140
Author(s):  
Gogor Mustawa Zais
Keyword(s):  
Multiple Regression ◽  
Capital Expenditure ◽  
Independent Variables ◽  
The Impact

ABSTRACT The objective of this study was to find out and analyze the impact of regional own revenue (PAD), general allocation fund (DAU) and special allocation fund (DAK) on capital expenditure (BM)  in regencies/towns in South  Sumatera Province  for a period of 2010 to 2014. The data were analyzed by using multiple regression. There were four variables in this research. A dependent variable was capital expenditure (BM) and independent variables were regional own revenue (PAD), general allocation fund (DAU) and special allocation fund (DAK). The results showed that the regional own revenue and special allocation fund variables have positive and significant impact on the capital expenditure. This means that the higher the regional own revenue and special allocation fund, the regencies/towns increased the capital expenditure are also higher. General allocation fund do not have a significant effect on the capital expenditure (BM) in regencies/towns in South Sumatera Province for a period of 2010 to 2014

scholarly journals The Influence of Concentration and Temperature on the Membrane Resistance of Ion Exchange Membranes and the Levelised Cost of Hydrogen from Reverse Electrodialysis with Ammonium Bicarbonate

Membranes ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 135
Author(s):  
Yash Dharmendra Raka ◽  
Robert Bock ◽  
Håvard Karoliussen ◽  
Øivind Wilhelmsen ◽  
Odne Stokke Burheim
Keyword(s):  
Ion Exchange ◽  
Waste Heat ◽  
Ammonium Bicarbonate ◽  
Operating Efficiency ◽  
Membrane Thickness ◽  
Ion Exchange Membranes ◽  
Reverse Electrodialysis ◽  
Ohmic Resistance ◽  
Production Of Hydrogen ◽  
The Impact

The ohmic resistances of the anion and cation ion-exchange membranes (IEMs) that constitute a reverse electrodialysis system (RED) are of crucial importance for its performance. In this work, we study the influence of concentration (0.1 M, 0.5 M, 1 M and 2 M) of ammonium bicarbonate solutions on the ohmic resistances of ten commercial IEMs. We also studied the ohmic resistance at elevated temperature 313 K. Measurements have been performed with a direct two-electrode electrochemical impedance spectroscopy (EIS) method. As the ohmic resistance of the IEMs depends linearly on the membrane thickness, we measured the impedance for three different layered thicknesses, and the results were normalised. To gauge the role of the membrane resistances in the use of RED for production of hydrogen by use of waste heat, we used a thermodynamic and an economic model to study the impact of the ohmic resistance of the IEMs on hydrogen production rate, waste heat required, thermochemical conversion efficiency and the levelised cost of hydrogen. The highest performance was achieved with a stack made of FAS30 and CSO Type IEMs, producing hydrogen at 8.48× 10−7 kg mmem−2s−1 with a waste heat requirement of 344 kWh kg−1 hydrogen. This yielded an operating efficiency of 9.7% and a levelised cost of 7.80 € kgH2−1.

scholarly journals Exoplanet mass estimation for a sample of targets for the Ariel mission

2021 ◽  
Author(s):  
J. R. Barnes ◽  
C. A. Haswell
Keyword(s):  
Radial Velocity ◽  
Input Parameter ◽  
Noise Sources ◽  
Time Commitment ◽  
Low Mass ◽  
Time Required ◽  
Fixed Input ◽  
The Impact ◽  
Quadrature Sampling

AbstractAriel’s ambitious goal to survey a quarter of known exoplanets will transform our knowledge of planetary atmospheres. Masses measured directly with the radial velocity technique are essential for well determined planetary bulk properties. Radial velocity masses will provide important checks of masses derived from atmospheric fits or alternatively can be treated as a fixed input parameter to reduce possible degeneracies in atmospheric retrievals. We quantify the impact of stellar activity on planet mass recovery for the Ariel mission sample using Sun-like spot models scaled for active stars combined with other noise sources. Planets with necessarily well-determined ephemerides will be selected for characterisation with Ariel. With this prior requirement, we simulate the derived planet mass precision as a function of the number of observations for a prospective sample of Ariel targets. We find that quadrature sampling can significantly reduce the time commitment required for follow-up RVs, and is most effective when the planetary RV signature is larger than the RV noise. For a typical radial velocity instrument operating on a 4 m class telescope and achieving 1 m s−1 precision, between ~17% and ~ 37% of the time commitment is spent on the 7% of planets with mass Mp < 10 M⊕. In many low activity cases, the time required is limited by asteroseismic and photon noise. For low mass or faint systems, we can recover masses with the same precision up to ~3 times more quickly with an instrumental precision of ~10 cm s−1.

scholarly journals Management of Chipping Operations in Polish Forests

2020 ◽  
Vol 3 (1) ◽  
pp. 56
Author(s):  
Arkadiusz Gendek ◽  
Monika Aniszewska ◽  
Witold Zychowicz ◽  
Tadeusz Moskalik ◽  
Jan Malaťák ◽  
...  
Keyword(s):  
Fuel Consumption ◽  
Travel Distance ◽  
Operating Efficiency ◽  
Site Location ◽  
Work Shift ◽  
Work Site ◽  
The Mean ◽  
The Impact ◽  
Machine Base

The aim of the research was to verify the impact of selected parameters on the efficiency and organization of chipper operations. The paper analyzes chipping operations in Polish forests with a focus on work site location, overnight chipper location, chipper workload per site, fuel consumption, and work shift duration, as all of these factors may affect operating efficiency. The mean chipper travel distance between sites during a shift ranged from 4.74 km to 9.5 km (chippers moved on average every other day). The mean work shift duration was 12.4 h. At the end of a shift, the chippers traveled on average from 4.2 km to 6.3 km to an overnight location. At the beginning of a workday, the chippers were dispatched to sites at a distance of 2.5 km to 4.0 km. The average fuel consumption of the forwarder-mounted chippers was 16 L/h and that of the truck-mounted chipper was 7.7 L/h. It was found that the following actions have a decisive influence on the effectiveness of the operation of the chippers: determination of the size of individual tasks and the deployment of successive forest areas, indication of the proper location of the machine base, and the method of accessing the forest area.

The Impact of Structural Reforms and Regulations on the Demand Side in the Railway Industry

2019 ◽  
Vol 18 (1) ◽  
pp. 1-33
Author(s):  
Fumitoshi Mizutani
Keyword(s):  
Market Structure ◽  
Vertical Integration ◽  
High Speed ◽  
Fixed Effect Model ◽  
Structural Reform ◽  
Estimation Methods ◽  
Public Ownership ◽  
Estimation Model ◽  
Passenger Demand ◽  
The Impact

Abstract The main purpose of this study is to evaluate factors affecting passenger rail demand, with special attention to the effects of structural reform/regulation and competition. In order to do this, we use data obtained from 30 OECD countries for the 24 years from 1990 to 2013. As structural reform/regulation and competition variables, we take the OECD’s five kinds of regulatory indices: (i) overall, (ii) entry, (iii) public ownership, (iv) vertical integration, and (v) market structure; and for competition variables, we take (vi) rail passenger-freight ratio, (vii) rail share, and (viii) high-speed train ratio. As estimation methods, both the fixed effect model and the Hausman-Taylor estimation model are used. The major findings are as follows. First, competition as competitiveness (i.e. the share of rail, passenger over freight ratio) increases passenger demand. And the existence of high-speed trains increases passenger demand. Second, overall, entry regulation, and market structure have no significant effect on demand. Third, public ownership affects passenger demand positively. Last, vertical integration reduces passenger demand.

Impact of Health and Agriculture Financing on Economic Growth in Nigeria

2021 ◽  
Vol 7 (18) ◽  
pp. 37-58
Author(s):  
Rasaki Olufemi KAREEM ◽  
◽  
Olawale LATEEF ◽  
Muideen Adejare ISIAKA ◽  
Kamilu RAHEEM ◽  
...  
Keyword(s):  
Economic Growth ◽  
Federal Government ◽  
Causal Relationship ◽  
Agricultural Sector ◽  
Time Series Data ◽  
Capital Expenditure ◽  
Government Expenditure ◽  
Health Sector ◽  
Series Data ◽  
The Impact

The study focused on the impact of health and agriculture financing on economic growth in Nigeria from 1981 to 2019. The study utilized the time series data which was extracted from Central Bank of Nigeria annual statistical bulletin. Unit Root test was performed with the use of Augmented Dickey-Fuller test in order to ascertain the stationarity of all the variables and they were all found to be stationary at order 1 in the two specified models (composite and disaggregated). Error Correction Model (ECM) was used to analyze the data in order to determine the speed of adjustment from the short run to the long run equilibrium state. Casualty test was used to confirm causal relationship among the variables of interests. The study revealed that Federal Government expenditure in Health sector has a significant effect on economic growth in Nigeria. Federal Government expenditure in Agricultural sector equally had a positive effect on economic growth but surprisingly not significant. Considering the disaggregated form, Federal Government capital expenditure in both Health and Agricultural sectors have positive and statistically significant effect on economic growth while Federal Government recurrent expenditure on health has a positive and statistically insignificant effect in economic. It was also revealed that there is causal relationship among the variables. Based on the findings, the study concluded that Federal Government Expenditure in Health Sectors and Agriculture Sectors have effect on economic growth in Nigeria.

scholarly journals Does Banking Management Affect Credit Risk? Evidence from the Indian Banking System

2018 ◽  
Vol 6 (3) ◽  
pp. 67 ◽  
Author(s):  
Laxmi Koju ◽  
Ram Koju ◽  
Shouyang Wang
Keyword(s):  
Credit Risk ◽  
Default Risk ◽  
Banking System ◽  
Capital Requirements ◽  
Operating Efficiency ◽  
Investment Strategies ◽  
Empirical Results ◽  
Bank Managers ◽  
Credit Standards ◽  
The Impact

This study investigated the impact of banking management on credit risk using a sample of Indian commercial banks. The study employed dynamic panel estimations to evaluate the link between banking management variables and credit risk. The empirical results show that an increase in loan portion over total assets does not necessarily increase problem loans. The findings suggest that high capital requirements and large bank size do not reduce default risk, whereas high profitability and strong income diversification policies lower the likelihood of default risk. The overall empirical results supported the “operating efficiency”, “diversification” and “too big to fail” hypotheses, confirming that credit quality in the banking industry is mainly driven by profitability, banking supervision, high credit standards and strong investment strategies. The findings are relevant to bank managers, investors and bank regulators, in formulating effective credit policies and investment strategies.

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