scholarly journals “After End-2008 Structural Changes in Containership Market” and Their Impact on Industry’s Policy

2018 ◽  
Vol 6 (4) ◽  
pp. 90 ◽  
Author(s):  
Alexandros Goulielmos
Keyword(s):  
Structural Changes ◽  
Economies Of Scale ◽  
Freight Rate ◽  
Fuel Prices ◽  
Operating Profit ◽  
Net Profit ◽  
Minimum Efficient Scale ◽  
Accumulated Losses ◽  
The Relationship ◽  
New Buildings

The inability of carriers to forecast “demand for containerships” led them to order larger ships. Maritime economists were also unable to forecast it. The new-buildings cut cost per TEU, but “estimated economies of scale” are exhausted with ships beyond 21,000 TEUs, higher than the present. As average cost-AC was not at minimum, carriers did not produce at minimum efficient scale (MES). As larger ships are more competitive, smaller ships led to laid-up, and eventually scrapped. This strategy, however, did not bring the desirable balance between demand and supply. Due to falling demand, following the meltdown at the end of 2008, carriers priced their services at marginal cost-MC, and thus they accumulated losses. As a result, carriers resorted to frequent GRIs (freight rate increases). Supply exceeded demand and average distances fell after 2008. Containership market will remain depressed if economies of scale lead carriers to shipyards. Scrapping—the last hope—removed only 1/7 of the oversupply. Revenue, operating profits, and net profits, due to increased financial expenses, were lower than in the past. Aggressive ship-building programs could not be carried-out, because the depression meant that there are available only limited funds. The estimated funds required for new buildings were as high as $4 billion per carrier. So, the sector is in a vicious circle. The only helpful sign was the reduction in fuel prices after 2011 from $800/ton to $278 (2015). We also showed that ports and canals, through their traditional charging policy on size, penalized containerships for their efficiency—if volume discounts are not provided. Port dues and container handling and canal dues account for as much as 40% of the annualized containership cost. Finally, to study the relationship between concentration (market share) and revenue, operating profit and net profit, we ran three regressions; but only one gave a high correlation coefficient (0.97). This suggests that the containership market is purely competitive. We also showed that the Herfindahl index was 683 units (i.e., <1000) and Lerner’s index was 0.55—both indicating oligopolistic trends. Our model shows that containership market is either oligopolistic or purely competitive. This finding shows the double face of containership markets, which so much confused maritime economists.

scholarly journals Does Flexibility of Employee–Management Relationship Influence the Operational Performance of Firms? A Case Study

2019 ◽  
Vol 2 (1) ◽  
pp. 85-97 ◽  
Author(s):  
Himanshu Agarwall ◽  
Chandrika Prasad Das ◽  
Rabindra Kumar Swain
Keyword(s):  
Operational Performance ◽  
Comfort Zone ◽  
Net Worth ◽  
Operating Profit ◽  
Net Profit ◽  
And Performance ◽  
Basic Features ◽  
The Relationship ◽  
Specific Degree

Employee turnover (ET) is a function of the employee–management relationship. To some extent it is good for the organization as it injects new blood and enhances productivity through innovations and creativity. Still, a gap exists between an employee–management relationship due to various factors such as comfort zone of employee and management. However, to a certain extent, such gaps are bearable, but beyond a specific degree of ET, it may have an adverse effect on the firms’ operations and performance. Our study aims to measure the influence of this flexibility in employee–management relationship beyond tolerable limit on the operational performance of firms with special reference to Tata Consultancy Services over the period of 2005–2018. We have applied descriptive statistics to understand the basic features of the relationship between employees and management. Simple linear regression model has been used to determine the relationship and influence of ET on operational performance, and owner’s equity. Our study revealed that ET explains significantly about net sales to total assets, net profit to total assets and operating profit to total assets. However, ET does not influence much of the net worth of the business.

Marginal assessment of the cost and benefits of aphasia treatment: Evidence from community-based telerehabilitation treatment for aphasia

2021 ◽  
pp. 1357633X2098277
Author(s):  
Molly Jacobs ◽  
Patrick M Briley ◽  
Heather Harris Wright ◽  
Charles Ellis
Keyword(s):  
Cost Effectiveness ◽  
Economies Of Scale ◽  
Reference Group ◽  
Unit Cost ◽  
Community Based ◽  
Face To Face ◽  
Conduction Aphasia ◽  
Aphasia Treatment ◽  
The Cost ◽  
The Relationship

Introduction Few studies have reported information related to the cost-effectiveness of traditional face-to-face treatments for aphasia. The emergence and demand for telepractice approaches to aphasia treatment has resulted in an urgent need to understand the costs and cost-benefits of this approach. Methods Eighteen stroke survivors with aphasia completed community-based aphasia telerehabilitation treatment, utilizing the Language-Oriented Treatment (LOT) delivered via Webex videoconferencing program. Marginal benefits to treatment were calculated as the change in Western Aphasia Battery-Revised (WAB-R) score pre- and post-treatment and marginal cost of treatment was calculated as the relationship between change in WAB-R aphasia quotient (AQ) and the average cost per treatment. Controlling for demographic variables, Bayesian estimation evaluated the primary contributors to WAB-R change and assessed cost-effectiveness of treatment by aphasia type. Results Thirteen out of 18 participants experienced significant improvement in WAB-R AQ following telerehabilitation delivered therapy. Compared to anomic aphasia (reference group), those with conduction aphasia had relatively similar levels of improvement whereas those with Broca’s aphasia had smaller improvement. Those with global aphasia had the largest improvement. Each one-point of improvement cost between US$89 and US$864 for those who improved (mean = US$200) depending on aphasia type/severity. Discussion Individuals with severe aphasia may have the greatest gains per unit cost from treatment. Both improvement magnitude and the cost per unit of improvement were driven by aphasia type, severity and race. Economies of scale to aphasia treatment–cost may be minimized by treating a variety of types of aphasia at various levels of severity.

scholarly journals Sugar Prices vs. Financial Market Uncertainty in the Time of Crisis: Does COVID-19 Induce Structural Changes in the Relationship?

Agriculture ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 93
Author(s):  
Pavel Kotyza ◽  
Katarzyna Czech ◽  
Michał Wielechowski ◽  
Luboš Smutka ◽  
Petr Procházka
Keyword(s):  
Financial Crisis ◽  
Stock Market ◽  
Financial Market ◽  
Structural Breaks ◽  
Structural Changes ◽  
Global Financial Crisis ◽  
Market Uncertainty ◽  
Volatility Index ◽  
The Global Financial Crisis ◽  
The Relationship

Securitization of the agricultural commodity market has accelerated since the beginning of the 21st century, particularly in the times of financial market uncertainty and crisis. Sugar belongs to the group of important agricultural commodities. The global financial crisis and the COVID-19 pandemic has caused a substantial increase in the stock market volatility. Moreover, the novel coronavirus hit both the sugar market’s supply and demand side, resulting in sugar stock changes. The paper aims to assess potential structural changes in the relationship between sugar prices and the financial market uncertainty in a crisis time. In more detail, using sequential Bai–Perron tests for structural breaks, we check whether the global financial crisis and the COVID-19 pandemic have induced structural breaks in that relationship. Sugar prices are represented by the S&P GSCI Sugar Index, while the S&P 500 option-implied volatility index (VIX) is used to show stock market uncertainty. To investigate the changes in the relationship between sugar prices and stock market uncertainty, a regression model with a sequential Bai–Perron test for structural breaks is applied for the daily data from 2000–2020. We reveal the existence of two structural breaks in the analysed relationship. The first breakpoint was linked to the global financial crisis outbreak, and the second occurred in December 2011. Surprisingly, the COVID-19 pandemic has not induced the statistically significant structural change. Based on the regression model with Bai–Perron structural changes, we show that from 2000 until the beginning of the global financial crisis, the relationship between the sugar prices and the financial market uncertainty was insignificant. The global financial crisis led to a structural change in the relationship. Since August 2008, we observe a significant and negative relationship between the S&P GSCI Sugar Index and the S&P 500 option-implied volatility index (VIX). Sensitivity analysis conducted for the different financial market uncertainty measures, i.e., the S&P 500 Realized Volatility Index confirms our findings.

scholarly journals Type B trichothecenes-the relationship between slight structural changes and toxicity

2016 ◽  
Vol 66 (1) ◽  
pp. 45-55
Author(s):  
Tadahiro Suzuki ◽  
Yumiko Iwahashi
Keyword(s):  
Structural Changes ◽  
Type B ◽  
The Relationship

SOFTWARE FOR CONTROL SYSTEMS FOR «SMART» RESIDENTIAL BUILDING

2021 ◽  
Vol 14 (1) ◽  
pp. 58-67
Author(s):  
Sergey Polyakov ◽  
V. Akimov ◽  
A. Polukazakov ◽  
Vladimir Zolnikov ◽  
P. Enin
Keyword(s):  
Structural Changes ◽  
Life Support ◽  
Assembly Language ◽  
Experimental Studies ◽  
Residential Building ◽  
Heating System ◽  
Liquid Level ◽  
Virtual Object ◽  
Level Control ◽  
The Relationship

The article deals with the issues of modeling and management of life support systems of a residential building. The resulting model of the liquid level in the tank allows you to establish the relationship between the level and the flow rate of the liquid. The results of the selection and justification of the fluid level control structure are presented. An algorithm that implements the operation of a virtual object is given. The structure of the automatic control system (ACS) of the liquid level is technically implemented in an open type. The results confirming the achievability of the proposed structural changes are obtained. The results of experimental studies are presented. The choice and justification of the method of controlling the heating system and the liquid level in the tank are considered. Programs for managing subsystems of a residential building in Assembly language, C++, and ladder diagrams are presented. A model for controlling the liquid level in a Multisim environment is proposed.

Entrepreneurial Orientation, Uncertainty Avoidance and Firm Performance

2003 ◽  
Vol 4 (1) ◽  
pp. 46-58 ◽  
Author(s):  
Fredric William Swierczek ◽  
Thai Thanh Ha
Keyword(s):  
Firm Performance ◽  
Risk Taking ◽  
Entrepreneurial Orientation ◽  
Job Creation ◽  
Uncertainty Avoidance ◽  
Business Growth ◽  
Net Profit ◽  
The Relationship

This study examines the relationship between entrepreneurial orientation (EO) and firm performance in a sample of 306 Vietnamese SMEs and 172 Thai small and medium-sized enterprises (SMEs). Dimensions of entrepreneurial orientation including risk-taking, proactivity and innovativeness are explored. The results indicate that Thai SMEs are more innovative and proactive than their Vietnamese counterparts, while Vietnamese SMEs are inclined to be more risk-taking. Thai SMEs have higher perceived business growth, job creation and net profit than Vietnamese SMEs.

scholarly journals Cultural heritage conservation and communication by digital modeling tools. Case studies: minor architectures of the Thirties in the Turin area

2015 ◽  
Vol II-5/W3 ◽  
pp. 25-32 ◽  
Author(s):  
A. Bruno Jr. ◽  
R. Spallone
Keyword(s):  
Three Dimensional ◽  
Le Corbusier ◽  
World War ◽  
Cultural Goods ◽  
Modeling Tools ◽  
Representation Systems ◽  
Digital Modeling ◽  
The Relationship ◽  
New Buildings ◽  
Guide Lines

Between the end of the twenties and the beginning of the World war two Turin, as the most of the Italian cities, was endowed by the fascist regime of many new buildings to guarantee its visibility and to control the territory: the fascist party main houses and the local ones. <br><br> The style that was adopted for these constructions was inspired by the guide lines of the Modern movement which were spreading by a generation of architects as Le Corbusier, Gropius, Mendelsohn. <br><br> At the end of the war many buildings were reconverted to several functions that led heavy transformations not respectful of the original worth, other were demolished. <br><br> Today it's possible to rebuild those lost architectures in their primal format as it was created by their architects on paper (and in their mind). This process can guarantee the three-dimensional perception, the authenticity of the materials and the placement into the Turin urban tissue, using static and dynamic digital representation systems. The “three-dimensional re-drawing” of the projects, thought as an heuristic practice devoted to reveal the original idea of the project, inserts itself in a digital model of the urban and natural context as we can live it today, to simulate the perceptive effects that the building could stir up today. The modeling skills are the basis to product videos able to explore the relationship between the environment and “re-built architectures”, describing with the synthetic movie techniques, the main formal and perceptive roots. The model represents a scientific product that can be involved in a virtual archive of cultural goods to preserve the collective memory of the architectural and urban past image of Turin.

scholarly journals ANALISIS KINERJA KEUANGAN PADA PT. HANJAYA MANDALA SAMPOERNA Tbk.

2017 ◽  
Vol 12 (2) ◽  
Author(s):  
Rona Rosy Nimiangge ◽  
Harijanto Sabijono ◽  
Hendrik Gamaliel
Keyword(s):  
Financial Performance ◽  
Activity Ratio ◽  
Financial Analysis ◽  
Information Source ◽  
Profit Margin ◽  
Financial Statement ◽  
Operating Profit ◽  
Net Profit ◽  
Turn Over ◽  
Profitability Ratios

Development in technology that happen continuously have made the skills in financial analysis are more needed. Financial statement are the information source for financial position and company financial ferformance analysis.Evaluation of company financial performance in this research  using activity ratio and profitability ratio. This research using PT. Hanjaya Mandala Sampoerna Tbk as objek, this decision are based as 1 of 4 big company in cigarettes industry in Indonesia. The summary problem  in this research is,” How the financial performanceat PT. Hanjaya Mandala Sampoerna Tbk. Based on activity ratio and profitability ratio for year 2015 and 2016?” The activity ratios are calculated with account receivable Turn Over,Inventory Turn Over, Total Asset Turn over,Otherwise Profitability Ratio are calculated with Gross profit  Margin, Operating Profit Margin, and Net Profit Margin. The results showed that the ratios of poor activity were seen from the decline in value in the period 2015-2016, while the profitability ratios increased in the period 2015- 2016 which indicates the company's ability to generate profits has increased.Keywords : Financial Performance Analysis, Activity, Profitability

scholarly journals Ownership And Firm Performance: The Experience Of Saudi Arabias Emerging Economy

2011 ◽  
Vol 8 (8) ◽  
Author(s):  
Abuzar M. A. Eljelly
Keyword(s):  
Saudi Arabia ◽  
Firm Performance ◽  
Stock Market ◽  
Market Performance ◽  
Return On Assets ◽  
Private Companies ◽  
Return On Equity ◽  
Net Profit ◽  
The Government ◽  
The Relationship

This study examines the relationship between firm ownership and corporate performance in Saudi Arabia, using a sample of Listed Private Companies (LPCs) and Listed Government Related Companies (LGRCs). The study compares the operating and market performance of the LPCs and LGRCs during the period 2000-2003 and found that, in general, LGRCs outperform or match the performance of LPCs. More specifically, the study finds that LGRCs tend to mostly outperform LPCs in terms of profitability, as measured by Return on equity (ROE) and Net Profit Margin (NPM), operating efficiently, as measured in terms of Return on assets (ROA), and match them in their stock market risk adjusted performance. The study concludes that these results may have implications for the issue of privatization programs which the government has recently started.

scholarly journals Evaluation of retinal nerve fibre layer thickness as a possible measure of diabetic retinal neurodegeneration in the EPIC-Norfolk Eye Study

2021 ◽  
pp. bjophthalmol-2021-319853
Author(s):  
Sidra Zafar ◽  
Kristen A Staggers ◽  
Jie Gao ◽  
Yao Liu ◽  
Praveen J Patel ◽  
...  
Keyword(s):  
Nerve Fibre ◽  
Structural Changes ◽  
Retinal Nerve Fibre Layer ◽  
Diabetes Diagnosis ◽  
Fibre Layer ◽  
Diabetes Status ◽  
Retinal Neurodegeneration ◽  
Nerve Fibre Layer ◽  
Diabetic Retinal Neurodegeneration ◽  
The Relationship

Background/aimsMarkers to clinically evaluate structural changes from diabetic retinal neurodegeneration (DRN) have not yet been established. To study the potential role of peripapillary retinal nerve fibre layer (pRNFL) thickness as a marker for DRN, we evaluated the relationship between diabetes, as well as glycaemic control irrespective of diabetes status and pRNFL thickness.MethodsLeveraging data from a population-based cohort, we used general linear mixed models (GLMMs) with a random intercept for patient and eye to assess the association between pRNFL thickness (measured using GDx) and demographic, systemic and ocular parameters after adjusting for typical scan score. GLMMs were also used to determine: (1) the relationship between: (A) glycated haemoglobin (HbA1c) irrespective of diabetes diagnosis and pRNFL thickness, (B) diabetes and pRNFL thickness and (2) which quadrants of pRNFL may be affected in participants with diabetes and in relation to HbA1c.Results7076 participants were included. After controlling for covariates, inferior pRNFL thickness was 0.94 µm lower (95% CI −1.28 µm to −0.60 µm), superior pRNFL thickness was 0.83 µm lower (95% CI −1.17 µm to −0.49 µm) and temporal pRNFL thickness was 1.33 µm higher (95% CI 0.99 µm to 1.67 µm) per unit increase in HbA1c. Nasal pRNFL thickness was not significantly associated with HbA1c (p=0.23). Similar trends were noted when diabetes was used as the predictor.ConclusionSuperior and inferior pRNFL was significantly thinner among those with higher HbA1c levels and/or diabetes, representing areas of the pRNFL that may be most affected by diabetes.

Sign in / Sign up

Export Citation Format

Share Document