Disclosure to Regulate Learning in Product Markets from the Stock Market

A firm’s stock price may reveal information to a variety of participants, including its strategic partners and competitive rivals. This paper establishes that when a firm discloses cost information it can confound decision-relevant demand information embedded in the stock price that observers can otherwise extract. With stock price valuing firm profit (not cost and revenue separately), a disconnect is introduced between the firm’s actions and its intent – it discloses more (less) on one dimension when its intent is to conceal (reveal) on another. Moreover, the firm’s intent can be to either reveal or conceal information depending on what gives its partner the best competitive edge over its rival. Consequently, a firm’s disclosure is made strategically, incorporating valuation and competitive effects. Interestingly, the firm’s disclosure strategy is designed in close concert with its production decision, i.e., the firm’s optimal accounting and real decisions interact with each other for maximum impact.

Evoke, don’t show: Narration in cinematic virtual reality and the making of Entangled

Over the past three years, cinematic virtual reality (CVR) has emerged as a form of media storytelling that takes advantage of the immersive properties of VR technology. However, as a practice it poses a number of challenges for the writer–director used to controlling the frame through which the viewer experiences the narrative. This research outlines the making of Entangled (a live-action, stereoscopic, VR experience incorporating ambisonic audio) and reflects on concept development and production decision-making with reference to the emerging body of academic knowledge about cinematic VR, in particular ideas about the position of the viewer and the nature of narration. The research addresses some of the gaps in knowledge in these areas, reconciling theoretical positions with a deep understanding of the realities of production processes.

Production Decision Analysis Under Exchange Rate Demand, And Carbon Prices Uncertainties

This thesis presents an optimal production decision analysis for a multinational firm under exchange rate, carbon allowance prices, and demand uncertainties. Firms having production and sales in two different countries experience both demand and exchange rate uncertainties. When exchange rates move unfavorably, multinational firms face financial losses because of falling profits. Demand uncertainties may result in underage cost when production quantities are less than the demand, or overage cost when production quantities are more than the demand. Additionally, recent environmental regulations on emissions of green house gases, particularly carbon dioxide emissions, also pose risk on firms’s profitability. It is thus important for a risk-averse manager to decide how to mitigate these uncertainties to protect the firm’s financial losses. In order to address these issues, mathematical models that capture firm’s production allocation problem under different scenarios of exchange rate, carbon emissions, and demand uncertainties have been developed. The risk attitude of the firm manager is assumed to be risk averse and is modeled by a mean-variance (MV) utility function. In order to hedge downside risk of exchange rates and upside risk of carbon allowance prices, the firm takes long positions in currency put and carbon call options, respectively. The objective is to maximize the MV function of the firm subject to various capacity and demand constraints and determine the optimal number of currency put and carbon call options. The firm possesses real options capability in the form of capacity flexibility represented by a vector of discrete capacity levels to meet uncertainties of demand. Demand uncertainties are assumed to follow regime-switching behaviors – considering both onestate and two-state probability distributions. The stochastic behavior of exchange rate is modeled by a geometric Brownian motion and its limiting case as a random walk. Functioning under a cap-and-trade emission trading scheme, the firm is obliged to buy carbon allowances for its carbon emissions. Carbon allowance prices are modeled as both geometric Brownian motion and geometric Brownian motion with jump processes. Results demonstrate that integration of real options and financial options increases the utility of the firm, while financial options reduce the variance of the profit.

Production Decision Analysis Under Exchange Rate Demand, And Carbon Prices Uncertainties

This thesis presents an optimal production decision analysis for a multinational firm under exchange rate, carbon allowance prices, and demand uncertainties. Firms having production and sales in two different countries experience both demand and exchange rate uncertainties. When exchange rates move unfavorably, multinational firms face financial losses because of falling profits. Demand uncertainties may result in underage cost when production quantities are less than the demand, or overage cost when production quantities are more than the demand. Additionally, recent environmental regulations on emissions of green house gases, particularly carbon dioxide emissions, also pose risk on firms’s profitability. It is thus important for a risk-averse manager to decide how to mitigate these uncertainties to protect the firm’s financial losses. In order to address these issues, mathematical models that capture firm’s production allocation problem under different scenarios of exchange rate, carbon emissions, and demand uncertainties have been developed. The risk attitude of the firm manager is assumed to be risk averse and is modeled by a mean-variance (MV) utility function. In order to hedge downside risk of exchange rates and upside risk of carbon allowance prices, the firm takes long positions in currency put and carbon call options, respectively. The objective is to maximize the MV function of the firm subject to various capacity and demand constraints and determine the optimal number of currency put and carbon call options. The firm possesses real options capability in the form of capacity flexibility represented by a vector of discrete capacity levels to meet uncertainties of demand. Demand uncertainties are assumed to follow regime-switching behaviors – considering both onestate and two-state probability distributions. The stochastic behavior of exchange rate is modeled by a geometric Brownian motion and its limiting case as a random walk. Functioning under a cap-and-trade emission trading scheme, the firm is obliged to buy carbon allowances for its carbon emissions. Carbon allowance prices are modeled as both geometric Brownian motion and geometric Brownian motion with jump processes. Results demonstrate that integration of real options and financial options increases the utility of the firm, while financial options reduce the variance of the profit.

Production Decision Optimization for Iron and Steel Scrap Remanufacturing considering Carbon Emission and Delivery Time

Under the requirements of the national carbon reduction target, the recycling and remanufacturing of scrap iron and steel are taken by major iron and steel enterprises as requirements for implementing industrial carbon emission reduction and are incorporated into their production strategies. The scheduling optimization of scrap iron and steel remanufacturing processes plays an important role in the energy saving and emission reduction of iron and steel enterprises. In this paper, a remanufacturing production decision model for scrap iron and steel considering both the product delivery time and carbon emissions was established, and a discrete krill swarm algorithm was designed to solve the multiobjective production decision model. The effectiveness of the model and the algorithm was verified by an example, demonstrating a good decision-making reference for the implementation of energy conservation and emission reduction in iron and steel enterprises.

Optimal production decision of new energy vehicle and traditional fuel vehicle

With the reduction of government subsidies for new energy vehicle, it has become an important decision problem for traditional vehicle enterprises with new energy vehicle production qualification to decide how much proportion of new energy vehicles should be produced. By maximizing the utility of the vehicle enterprise, this study analyses the influence of enterprise’s production decision and consumer’s preference payment premium for the performance of new energy vehicle on optimal mixed production and pricing decision after the subsidies withdraw from the new energy vehicle market. The Results show that: (1) consumer’s payment premium increases the proportion of new energy vehicles produced by automobile enterprise. The enterprise only produces traditional fuel vehicles instead of new energy vehicles, when the premium is less than a certain level; and when the payment premium is higher than a certain threshold, the enterprise merely produces new energy vehicles instead of traditional ones. (2) As the rise of consumer’s payment premium, the amount of people who consume vehicles show a downward trend, and finally only 1/2 of consumers will remain to purchase automobiles. (3) There shows a U-shaped relationship between the optimal profit of vehicle enterprise and consumer payment premium that the profit of vehicle enterprise will decline first and then rise with the increase of consumer payment premium.

Production decision-making system for manufacturing enterprises constrained by carbon reduction policies

This paper studies the optimal low carbon production decision system with considered the constraints of carbon emission reduction policy for manufacturing enterprises producing two kinds of products in the free market. Firstly, The research proved the optimal production combination exists and it is unique under the carbon emissions limits, and next, the research analyzed the low-carbon production decision-making system in three situations, which are carbon emission trade decision, green technology input decision, and joint decision. The research results showed that carbon emission permits trade can increase more flexibility to manufacturing enterprises and increase their profits as well. However, the carbon emissions limits set by the government would have an important impact on the production decision system of manufacturing enterprises. Carbon emission permits trade and green technology investment can optimize and improve the production decision system of manufacturing enterprises to a certain extent. Meanwhile, the government's scientific and reasonable formulation of initial carbon quotas would mobilize the enthusiasm and initiative of manufacturing enterprises to participate in carbon emission reduction. The government should also guide and encourage enterprises to invest in and develop low-carbon emission reduction technologies through tax relief, so as to improve carbon emission reduction technologies and its innovations to reduce carbon dioxide emissions.

Introduction

This chapter focuses on the notion of production and how economists characterize production relationships in the context of the literature, and then presents a brief historical overview of the evolution of economists’ approaches to addressing the concept of time in production decision making. The major directions of production decisions having the potential to drive a dynamic decision process are presented. Being able to measure efficiency allows one to engage in benchmarking a firm against its peers to assess relative performance and obtain an objective reading to the core questions of many decision makers and planners. Productivity and economics performance are topics of high interest and have generated many studies and considerable discussion in economic policy circles across nations. Yet, theoretical and empirical studies focusing on production efficiency typically have ignored the time interdependence of production decisions and the adjustment paths of the firm over time.