bluuebunny/crossref_metadata_2025 huggingface dataset:
Is agricultural microcredit really more risky? Evidence from Tanzania
Authors: Weber Ron , Musshoff Oliver
Published: October 2012

Purpose

Using a unique dataset of a commercial microfinance institution (MFI) in Tanzania, the purpose of this paper is to investigate first whether agricultural firms have a different probability to get a loan and whether their loans are differently volume rationed than loans to non‐agricultural firms. Second, the paper analyzes whether agricultural firms repay their loans with different delinquencies than non‐agricultural firms.

Design/methodology/approach

The authors estimate a Probit‐Model for the probability of receiving a loan, a Heckman‐Model to investigate the magnitude of volume rationing for all loan applications and an OLS‐Model to examine the loan delinquencies of all microloans disbursed by the MFI.

Findings

The results reveal that agricultural firms face higher obstacles to get credit but as soon as they have access to credit, their loans are not differently volume rationed than those of non‐agricultural firms. Furthermore, agricultural firms are less often delinquent when paying back their loans than non‐agricultural firms.

Research limitations/implications

Even if the authors can show that access to credit and loan repayment is different for agricultural firms, the current regional focus of the MFI only allows for lending to agricultural firms in the greater Dar es Salaam area. Thus, these results might change in a rural setting. Besides general differences of the rural economic environment, the production type of agricultural firms might also differ in rural areas. Also, these results might change in different country contexts.

Practical implications

The findings suggest that a higher risk exposition typically attributed to agricultural production must not necessarily lead to higher credit risk. They also show that the investigated MFI overestimates the credit risk of agricultural clients and, hence, should reconsider its risk assessment practice to be able to increase lending to the agricultural sector. In addition, the results might indicate that farmers qualify less often for a loan as they do not fit into the standard microcredit product.

Originality/value

To the authors' knowledge, this is the first paper which simultaneously investigates access to credit and the repayment behavior of agricultural firms.
The effects of government sponsored enterprise (GSE) status on the pricing of bonds issued by the Federal Farm Credit Banks Funding Corporation (FFCB)
Authors: Turvey Calum G. , Wang Yiwo
Published: October 2012

Purpose

Motivated by recent congressional interest in eradicating government sponsored enterprises (GSE), the purpose of this paper is to develop a framework to price the implicit government guarantee embedded in the bonds issued by the Farm Credit System.

Design/methodology/approach

The paper uses the Black‐Scholes model to extract the implied volatilities of the guarantee and then substitute into the model the volatility in historical land prices. The model is developed along the lines of Merton's bond pricing formulation of implicit calls and puts on bond yield risk and default.

Findings

Bottom line results show that the average bond yield for a 3M Farm Credit bond from January 13th 2009 to February 10th 2011 would be 0.3744 percent if the Farm Credit System had no GSE status, which is 13.62 bps higher than the actual bond yield. The difference between the hypothetical yield and the actual yield increases with increasing maturity and reaches its peak with 10Y bond where the difference between the hypothetical yield and the actual yield is 68.81 bps. The paper concludes that given the current state of the agricultural credit market in the USA that loss of GSE status and the implied guarantee of Farm Credit bonds would have a minimal effect on short term notes, with a more substantive increase in longer term yields.

Practical implications

The GSE status of the Farm Credit System is an important political issue. This paper provides first estimates of what impact might result from its loss of GSE status. The methods employed are consistent with current models of bond pricing and the results are of direct relevance to Farm Credit System regulators and congressional discussions.

Social implications

Farm credit is important, if the Farm Credit System loses its GSE status this might affect the competitive balance between commercial and system lenders.

Originality/value

This paper uses option price theory based upon the spread between farm credit bonds and treasury. The approach used requires daily data, but not all attributes of bonds are known. Nonetheless, the results show remarkable consistency for a problem that is largely understudied. There is a need for policy makers, including the US congress to understand the value of government guarantees whether implicit or explicit.
Composition of trace and major minerals in different parts of pomegranate (Punica granatum) fruit cultivars
Authors: Amos Fawole Olaniyi , Linus Opara Umezuruike
Published: October 2012

Purpose

Pomegranate (Punica granatum L.) fruit is highly valued for its delicious edible arils and health benefits. In this study, a comparative study on elemental composition of seven pomegranate cultivars was determined in the fruit rind, mesocarp and arils.

Design/methodology/approach

The concentrations of major elements (N, P, K, Ca, Mg, S, Cl and Na) and trace elements (Mn, Fe, Cu, Zn, B, Ni, Co, Cr, Pb, Cd, Se, Al, As, Li, Sr, Ti and V) were determined using an inductively coupled plasma optical emission spectrometry (ICP‐OES) calibrated with different concentrations of standard solutions of the minerals.

Findings

The highest amounts of N, P, S and Cl were found in Bhagwa cultivar, while Arakta, Ruby and Wonderful had the highest amount of Mg, Ca, and Na, respectively. P, Fe, Zn, Ti, V were more in quantity in the edible portion, while the other mineral elements were in larger proportions or in some cases were only found (Co, Al, As) in the non‐edible fractions of fruit. Among the major mineral elements investigated, P had the highest covering of the RDA, ranging from 6.78 to 8.53 per cent contribution to the RDA, followed by K (4.530‐4.95 per cent RDA), S (1.25‐1.54 per cent RDA), Ca (1.04‐1.54 per cent RDA), Mg (4.33‐5.26 per cent RDA), and Na (0.15‐0.17 per cent RDA).

Practical implications

Knowledge of the relative contributions of mineral elements in the edible fruit part (arils) to RDA will assist in nutrition planning against mineral deficiency.

Originality/value

Pomegranate fruit contains edible and non‐edible portions, and this study provided the first detailed report on the distribution of a wide range of trace and major mineral elements in the three parts of the fruit. This study also showed that the edible portion (arils) of pomegranate fruit is a good dietary source of essential nutrients such as K, Ca, Mg, and Se, while the non‐edible parts may provide valuable sources of minerals for other food and bioprocess industries.
Decomposing the (seafood versus meat) evening meal decision‐making sequence
Authors: Perrea Toula , Brunsø Karen , Altintzoglou Themistoklis , Einarsdóttir Gunnþórunn , Luten Joop
Published: October 2012

Purpose

The evening meal is an important, regular event in the lives of many people and its daily practices lead consumers to develop habits that determine their food choices. The objective of the present work is to further investigate how consumers make choices by determining the stages as well as the content of the family's daily food (i.e. seafood and meat‐related) decision‐making process.

Design/methodology/approach

Twenty‐four families in Denmark, Norway and Iceland were asked to fill in a one‐to‐two‐week semi‐structured diary regarding any thoughts they had about the decision‐making sequence regarding their evening meals. Data were analysed by means of content analysis so as to gain insight into the main themes and distinctive patterns with respect to the four stages of the decision‐making sequence by identifying a number of codes and sub‐codes of high and lower abstraction level.

Findings

The main results were similar across the three countries. Planning was the most important phase of the evening meal decision‐making sequence, where Nordic respondents considered practical issues, and engaged in a more rational type of thinking, allowing cognitive aspects to prevail at this particular stage. The presence of rational thoughts was repeated in the successive stages of purchasing, whereas affective thoughts were elicited mainly during the later stages of preparation and consumption. Furthermore, the comparison of seafood and meat as choices that complied with respondents' demands and expectations revealed that the two food types were perceived as substitutes for each other; however, meat was considered a choice that respondents felt more confident with in terms of pre‐ and post‐purchasing experience.

Originality/value

This paper offers substantial insights into the factors that influence the decision making process, as well as the importance that consumers assign to those factors across most stages of the decision making process. This valuable, in‐depth information can only be collected by using qualitative methods such as the present diaries. Gaining insights into the factors that influence various stages of the evening meal decision‐making process enables researchers to identify the importance that consumers assign to cognitive and affective factors across the food provisioning stages for a variety of food products (including seafood).
Consumers' perceptions of quality and safety for grape products
Authors: Feng Huiru , Feng Jianying , Tian Dong , Mu Weisong
Published: October 2012

Purpose

Chinese consumers have increased their consumption of grape products in recent years due to recognition of the nutritional value of grapes. At the same time, consumers are paying more attention to food safety because of the occasional occurrence of food safety scares. Based on a survey of consumers in Zhejiang, China, this paper aims to understand and provide information on consumers' perceptions of quality and safety for grape products, purchasing behavior, and willingness to pay (WTP) for grape products.

Design/methodology/approach

This paper presents the results of empirical research. The survey method was a direct (face‐to‐face) interview based on a standardized questionnaire. Consumers' perceptions of the quality and safety of grape products were examined, together with consumers' demographic characteristics.

Findings

The results indicate that quality and safety, rather than price, are considered the most important factors that affect consumers' purchasing decisions for grape products. Consumer's educational level, the average price of grapes and the perception of safety are the main factors that determine consumers' WTP for grape products. As price increases, the consumer's WTP for safe and high quality grapes decreases.

Originality/value

This research provides a chance to understand consumers' demand and WTP for the quality and safety of grape products in Zhejiang, China. Further understanding was gained regarding factors affecting consumers judging grape products, which in turn may influence their purchase decisions. The results also could guide grape growers to supply products that better meet consumers' needs. It is proposed that the Chinese government pay more attention to taking measures to improve the quality and safety of grape products.
Records and information management practices among SMEs in Tororo district, Uganda
Authors: Okello‐Obura Constant
Published: October 2012

Purpose

The realization of the significant roles played by small and medium enterprises (SMEs) in economic development and the crucial values attached to efficient and effective records and information management in decision making, and the fact that little seems to be done to improve on the management of records and information among the SMES in Uganda, necessitated this study. The study therefore aims to investigate the management of records and information among the SMEs in Tororo district in Uganda.

Design/methodology/approach

The paper adopts a quantitative approach in which a structured questionnaire was used as the main data collection method and supplemented with a telephone interview. Snowball sampling strategy was applied in identifying the respondents. A total of 61 SMEs could be identified. Off this 61, 42 (69 percent) participated in the study. Data were analysed using the Excel program.

Findings

The findings indicate that the SMEs have many issues and challenges related to records and information management. The paper concludes that a concerted effort should be made and proposes that SMEs managers be trained on key skills for records and information management.

Originality/value

The Government of Uganda, in a bid to improve on the SMEs sector, have mainly focused on provision of advice on business practices and counseling for entrepreneurs who seek to access credit and new markets ignoring the crucial component of records and information management. This study thus closes this gap and makes key recommendations regarding improvement of records and information management among SMEs.
Exploring the applicability of construction partnering in Mainland China
Authors: Hong Yuming , Chan Daniel W.M. , Chan Albert P.C.
Published: October 2012

Purpose

This paper aims to explore the applicability of construction partnering in Mainland China, and to provide useful suggestions and possible implications for decision‐makers to adopt this collaborative approach to project procurement.

Design/methodology/approach

Document analysis was first employed to identify the favourable conditions and potential difficulties in the application of partnering in Mainland China. A series of face‐to‐face semi‐structured interviews targeting academic experts and industrial practitioners was undertaken to solicit their perceptions of the benefits and difficulties of implementing partnering in Mainland China, coupled with their overall assessment of the applicability of, and suggestions for, the implementation of partnering in the region.

Findings

The results of document analysis indicated that the cultural roots of co‐operation and mutual trust, together with the increasing need to improve the current state of project performance in Mainland China, underpin the application of partnering in the construction market, although its application and generalisation still encounter some significant difficulties. The perceived benefits, potential barriers and effective strategies for partnering application in Mainland China were determined from the interviewees. The interview results further supported the applicability of construction partnering and provided constructive and practical suggestions for possible implementation in the Mainland Chinese construction industry. The partnering approach is evaluated as being practicable and appropriate in this study for the construction industry in Mainland China.

Research limitations/implications

Although it is essential to base the analysis of partnering applicability on a qualitative study, an empirical quantitative investigation of the benefits and difficulties of partnering application could further reinforce the quality of analysis. Future research could look into the project‐based assessment of partnering application in terms of the perceived benefits and potential difficulties of, and success factors for, partnering implementation in Mainland China.

Practical implications

Policy‐makers aiming for the introduction of the partnering approach could be equipped with stronger confidence from favourable cultural environment and industrial needs. Restrictions to the application of partnering underlying in the current working culture could be mitigated when appropriate strategies are taken by the initiators of the partnering approach.

Originality/value

Increased worldwide attention on construction partnering has shed light on the construction industry in Mainland China to achieve better value for money in project procurement and management. This paper provides valuable reference for decision‐makers to consider the adoption of partnering based on the qualitative analysis of the applicability of partnering in the construction industry in Mainland China.
A comparative study of critical success factors for public private partnerships (PPP) between Mainland China and the Hong Kong Special Administrative Region
Authors: Cheung Esther , Chan Albert P.C. , Lam Patrick T.I. , Chan Daniel W.M. , Ke Yongjian
Published: October 2012

Purpose

This paper aims to explore the critical success factors (CSFs) necessary for adopting public private partnerships (PPPs) in both Mainland China and Hong Kong.

Design/methodology/approach

An empirical questionnaire survey was conducted with relevant experienced practitioners in Mainland China and Hong Kong.

Findings

Both Mainland China and Hong Kong have been keen to deliver more infrastructure service projects through PPP mode, with the former aiming to meet its rapidly growing infrastructure demand and the latter uplifting its efficiency further. The results indicate that Hong Kong does not regard multi‐benefit objectives as importantly as Mainland China. Mainland China on the contrary felt more concerned with an equitable risk sharing mechanism, which is understandable given the problems affecting the financial market in Mainland China.

Originality/value

It is anticipated that the results presented in this paper will assist both the public and private sectors to deliver PPP projects more successfully.
Condition based maintenance: a survey
Authors: Prajapati Ashok , Bechtel James , Ganesan Subramaniam
Published: October 2012

Purpose

The purpose of this paper is to provide a brief overview of condition based maintenance (CBM) with definitions of various terms, overview of some history, recent developments, applications, and research challenges in the CBM domain.

Design/methodology/approach

The article presents the insight into various maintenance strategies and provides their respective merits and demerits in various aspects. It then provides the detailed discussion of CBM that includes applications of various methodologies and technologies that are being implemented in the field. Finally, it ends with open challenges in implementing condition based maintenance systems.

Findings

This paper surveys research articles and describes how CBM can be used to optimize maintenance strategies and increase the feasibility and practicality of a CBM system.

Practical implications

CBM systems are completely practical to implement and applicable to various domains including automotive, manufacturing, aviation, medical, etc. This paper presents a brief overview of literature on CBM and an insight into CBM as a maintenance strategy. CBM has wide applications in automotive, aviation, manufacturing, defense, and other industries. It involves various disciplines like data mining, artificial intelligence, and statistics to enable the systems to be maintenance intelligent. These disciplines help in predicting the future consequences based on the past and current system conditions. Based on the authors’ studies, implementation of such a system is easy and cost effective because it uses existing subsystems to collect statistical data. On top of that it requires building a software layer to process the data and to implement the prognosis techniques in the form of algorithms.

Social implications

The design of CBM systems highly impact the society in terms of maintenance cost (i.e. reduces the maintenance cost of automobiles, safety by providing real time reporting of the fault using prognosis).

Originality/value

To the best of the authors’ knowledge, this paper is first of its kind in the literature which presents several maintenance strategies and provides a number of possible research directions listed in open research challenges.
A risk based approach to asset integrity management
Authors: Bharadwaj Ujjwal R. , Silberschmidt Vadim V. , Wintle John B.
Published: October 2012

Purpose

Inspection and maintenance of plant and machinery has traditionally been based on prescriptive industry practices. However, increased experience and a greater understanding of operational hazards is leading sections of industry to take a more informed approach to planning inspection and maintenance, targeting resources to reduce the risk to as low as reasonably practicable. The purpose of this paper is to present an approach to asset management to minimize risks in the most cost effective way.

Design/methodology/approach

The approach shown optimizes run‐repair‐replace decision‐making in the integrity management of assets with the ultimate aim of maximising the impact of money spent on risk mitigation actions. The risk‐based approach, as opposed to the more conventional approaches, assesses failure in its wider context by considering not just the likelihood of failure, but also the consequences should the failure event occur.

Findings

The risk‐based methodology presents a cost‐effective way to minimise life cycle costs in the management of assets whilst maintaining reliability or availability targets, and operating within safety and environmental regulation.

Practical implications

In this paper, for demonstration, a wind turbine system consisting of a number of components including structural components is used. However, the methodology can be extended to any system in which components can be analyzed to provide the required inputs to the risk model.

Originality/value

At a time when competitive pressures force asset managers to prioritize their maintenance, the risk‐based methodology presented here is a rational, efficient and somewhat flexible way to asset integrity management.
TQM implementation: a case of a mining company in Ghana
Authors: Boateng‐Okrah Ernest , Appiah Fening Fred
Published: October 2012

Purpose

The purpose of this paper is to ascertain the level at which total quality management (TQM) practices have been implemented in a mining company in Ghana.

Design/methodology/approach

The study was undertaken over a six month period and the questionnaire was administered to a sample of 60 employees. The topics for the questions were on senior management commitment to quality, total quality training, customer driven information, and availability of quality data, TQM methods, and supplier involvement. Statistical analyses were conducted to calculate percentage distributions and to determine the level of TQM implementation.

Findings

The paper reveals that the company has passed through the introductory stage of the TQM training of top and middle level management and is now at the point of transferring the knowledge to the rest of the employees in the company.

Originality/value

The findings present for the first time TQM implementation in the mining industry in Ghana. The study should be of value to managers who are interested in a comprehensive approach to achieving organizational excellence.
Combining value and momentum indicators in varying stock market conditions
Authors: Leivo Timo H.
Published: October 2012

Purpose

The purpose of this paper is to examine the added value of combining a momentum indicator with a value indicator in varying stock market conditions.

Design/methodology/approach

A comprehensive sample of Finnish non‐financial stocks is first divided into three‐quantile portfolios based on valuation multiples and composite value measures. The value and glamour portfolios are divided further into two‐sextile portfolios based on the price momentum indicator. The performance of portfolios is evaluated on the basis of their raw and risk‐adjusted returns. Moreover, the impact of the stock market cycle on relative performance of quantile portfolios is examined.

Findings

Taking account of price momentum beside relative valuation criteria enhances the performance of most of the value‐only portfolios during the full sample period (1993‐2009). During bullish conditions, the inclusion of a momentum criterion somewhat adds value to an investor, but during bearish conditions this added value is negative.

Research limitations/implications

The sample of stocks is not large in spite of its comprehensiveness from the local stock market aspect. Future studies can apply the approach to other stock markets.

Practical implications

The paper provides useful implications in portfolio management. The combination of the value and momentum criteria has paid off to the investor, despite the fact that its added value during bearish periods is negative, on an average.

Originality/value

This is the first time that the impact of the stock market cycle on the added value of combining price momentum with composite value measures as a portfolio‐formation criterion is examined.
Impact of cash holdings and ownership concentration on firm valuation
Authors: Ameer Rashid
Published: October 2012

Purpose

The purpose of this paper is to investigate the impact of firms' cash holdings and ownership concentration on the firms' valuation using an unbalanced panel dataset of non‐financial listed firms in Australia.

Design/methodology/approach

The author used a generalized method of moments approach suitable for unbalanced panel dataset to examine the impact of firms' cash holdings and ownership concentration on firms' q‐ratios after controlling for the impact of financing, dividend and investment decisions, respectively.

Findings

The paper finds a positive relationship between cash holdings and q‐ratio of Australian firms. The ownership structure moderates the effect of cash holdings on q‐ratio in asymmetric fashion, i.e. for widely held firms, there is a positive relationship between cash holdings and q‐ratio; while for closely held firms, there is significant negative relationship between cash holdings and q‐ratio. Furthermore, changes associated with corporate governance reforms, also effect q‐ratio besides ownership structure. The paper also examined the impact of cash holdings on the market value of the firms over time. As the author predicted, increase in the cash holdings has a negative effect on the firms' market valuation, and this effect slows down over time. Overall, the empirical analysis finds support for similar findings documented for the developed countries in the literature.

Research limitations/implications

The sample consists of non‐financial listed firms over the period of 1995 to 2010.

Practical implications

The results imply that widely‐owned firms have lower cash holdings because managers are able to access capital market easily compared to firms with concentrated ownership, which might have complex agency and information asymmetry problems. These findings are consistent with the agency costs. Managers in less widely‐held firms have more discretion over cash holding policies, and the value reduction imposed on these firms may reflect shareholders' recognition of the possibility of managerial expropriations.

Originality/value

This is believed to be the first paper to explore agency costs of cash holdings for Australian firms.
Performance appraisal based on a forced distribution system: its drawbacks and remedies
Authors: Chattopadhayay Rachana , Ghosh Anil Kumar
Published: October 2012

Purpose

Performance appraisal based on a forced distribution system (FDS) is widely used in large corporate sectors around the globe. Though many researchers have pointed out several drawbacks in FDS, due to the absence of any suitable alternative, it has been (and continues to be) adopted by many industries over a long period of time. The purpose of this paper is to point out some serious limitations of this system and propose a simple modification to overcome these limitations.

Design/methodology/approach

FDS determines the relative positions of the employees involved in similar work by comparing them against one another, and based on their performance, the employees receive different grades. Here the authors use the Likert's scaling method to convert these grades into numerical scores, then these scores are used to estimate the average performance of each group of employees, which is referred to as the group index. Taking these group indices into consideration, the authors propose a modified performance score of each employee for their final evaluation. Efficiencies of the existing FDS and the proposed modified version are compared using a simple measure of rank correlation known as the Kendall's tau‐statistic.

Findings

Extensive simulation studies show that the modified algorithm is uniformly better than the existing one over different schemes for allocations of employees to different projects, and depending on the allocation scheme, it can lead to substantial improvement.

Originality/value

This paper can be considered as the first to mathematically demonstrate the problems lying in the appraisal system based on a forced distribution and the first that provides a simple but effective solution which can be adopted by the organizations using FDS for performance appraisal.
The implementation of the balanced scorecard in a school district
Authors: Pereira Maria Manuela , Filipe Melão Nuno
Published: October 2012

Purpose

The purpose of this paper is to investigate the benefits, obstacles and challenges in implementing the balanced scorecard (BSC) in non‐higher education public schools, more specifically, in a Portuguese school district.

Design/methodology/approach

An action research approach was used to develop a BSC, help to implement changes and reflect about the outcomes.

Findings

The paper presents the BSC for the school district and discusses five benefits, two obstacles and three challenges that emerged from the study. While some findings are in line with those found in other levels of education, others seem to be context‐specific.

Research limitations/implications

The results refer to a single intervention in Portugal and the methodology used precludes any generalization attempts.

Practical implications

The findings are particularly relevant to the Portuguese context, providing evidence that the BSC can overcome some weaknesses of schools in the area of strategic management, as identified by the literature. They also raise implications for the wider field of the BSC's use in non‐higher education public schools, suggesting reasons why things may go wrong. The results may be of value to practitioners wishing to make the implementation of the BSC more effective.

Originality/value

This paper contributes to the scarce body of literature on the application of the BSC to non‐profit organizations by providing an understanding of its possible benefits, obstacles and challenges in non‐higher education public schools. It shows how the BSC methodology can be adapted to fit the specific requirements of a school district. This is one of the first papers to discuss an application of the BSC to non‐higher education public schools.
A fuzzy AHP and TOPSIS methodology to evaluate 3PL in a supply chain
Authors: Kumar Pravin , Singh Rajesh K.
Published: October 2012

Purpose

The purpose of this paper is to provide an insight into the use of an integrated approach of fuzzy analytical hierarchy process (fuzzy AHP) and TOPSIS in evaluating the performance of global third party logistics service providers for effective supply chain management.

Design/methodology/approach

In this study, the integration of fuzzy AHP with TOPSIS is proposed in determining the relative importance (weight) of criteria and then ranking of 3PLs.

Findings

Findings show that the logistics cost and service quality are two most important criteria for performance rating of 3PLs. Deciding the relative importance of various criteria for 3PLs evaluation is a complex task. The superiority of one criterion over the other varies from person to person and firm to firm. Therefore, to capture the variability in decision fuzzy extended AHP is very useful tool. Finally, the preference raking of alternatives are found using TOPSIS.

Research limitations/implications

Fuzzy AHP is a complex methodology and requires more numerical calculations than the traditional AHP and hence it increases the effort. But in this paper single stage fuzzy AHP is used to simplify the process. Fuzzy AHP is integrated with TOPSIS for preference ranking of 3PL, which provides a good methodology to rank 3PLs.

Originality/value

There is a lack of research in the literature to deal directly with the uncertainty of human decisions in evaluating the relative importance of multiple criteria. Therefore, fuzzy AHP is an appropriate methodology to find the relative importance of the criteria to rank the 3PLs using TOPSIS.
Bi‐objective optimization of distribution scheduling using MOPSO optimizer
Authors: Latha Shankar B. , Basavarajappa S. , Kadadevaramath Rajeshwar S.
Published: October 2012

Purpose

The paper aims at the bi‐objective optimization of a two‐echelon distribution network model for facility location and capacity allocation where in a set of customer locations with demands and a set of candidate facility locations will be known in advance. The problem is to find the locations of the facilities and the shipment pattern between the facilities and the distribution centers (DCs) to minimize the combined facility location and shipment costs subject to a requirement that maximum customer demands be met.

Design/methodology/approach

To optimize the two objectives simultaneously, the location and distribution two‐echelon network model is mathematically represented in this paper considering the associated constraints, capacity, production and shipment costs and solved using hybrid multi‐objective particle swarm optimization (MOPSO) algorithm.

Findings

This paper shows that the heuristic based hybrid MOPSO algorithm can be used as an optimizer for characterizing the Pareto optimal front by computing well‐distributed non‐dominated solutions. These aolutions represent trade‐off solutions out of which an appropriate solution can be chosen according to industrial requirement.

Originality/value

Very few applications of hybrid MOPSO are mentioned in literature in the area of supply chain management. This paper addresses one of such applications.
Confidence and supply chain disruptions
Authors: Lorentz Harri , Hilmola Olli‐Pekka
Published: October 2012

Purpose

This conceptual paper aims to shed light on the nature and determinants of managerial behaviour when affected by supply chain disruptions. It aims to argue that the managerial decision‐making process is an important component in determining the eventual long‐term impact of a supply chain disruption.

Design/methodology/approach

The paper introduces a continuous simulation model that is based on a Bayesian robot decision‐maker. Using the system dynamics approach, it illustrates the process of evaluating competing hypotheses of functional vs dysfunctional supply chain design in a disruption scenario. Model validity is assessed by means of a case study based on secondary data.

Findings

The model provides insight into the drivers of decision‐maker confidence dynamics that are used when evaluating the competing hypotheses. Furthermore, it identifies the psychological distortions that make actual managerial inference processes different from the Bayesian robot and incorporate these adjustments into the system dynamics model. Several propositions about the nature and determinants of decision‐maker confidence are stated.

Practical implications

For policy makers, the paper clarifies the important moderating role of confidence in the realisation of wider implications of supply chain disruptions, especially from the perspective of industrial development, and trade and transport facilitation.

Originality/value

The research enhances understanding of the wider implications of supply chain disruptions, contributing to behavioural research in logistics and supply chain management.
Innovation within green service supply chains for a value creation
Authors: Shamah Rania A.M.
Published: October 2012

Purpose

This research aims to provide guidance for management of green service supply chains to improve the likelihood and extent of innovation and joint productivity performance for value creation, with regard to coupling the potential role of the customer to increase supply chains performance. It is the purpose of this study to address the impact of green innovation privileged on service supply chains, then to address the prerequisite factors for enhancing the entire chain value creation.

Design/methodology/approach

A survey of extant research was undertaken for Egyptian hotels. It involved one type of questionnaire, provided across all managerial levels: top, senior, and executive managers. This questionnaire is divided into four main sections: the first section considers value creation, since the second section is related to trust; the third section is related to sharing knowledge; and the latest section is related to joint productivity.

Findings

The paper finds that it is possible to assist managers in thinking about adding value for supply chains.

Research limitations/implications

The study period interval in data collection may have influenced the variance in responses and therefore should be considered a limitation.

Practical implications

The ability to customize the simulator's parameters to represent value creation makes it a powerful tool for managers when deciding to rely on service supply chain.

Originality/value

This paper presents main elements required for enhancing value creation for all supply chain parties.
Microfinance institution costs: effects of gender, subsidies and technology
Authors: Caudill Steven B. , Gropper Daniel M. , Hartarska Valentina
Published: October 2012

Purpose

The purpose of this paper is to present a statistical examination of the factors affecting the performance of microfinance institutions (MFIs) operating in Eastern Europe and Central Asia.

Design/methodology/approach

Data on MFIs operating in Eastern Europe and Central Asia during the period 1999‐2004 were used in this study. A statistical analysis of the performance of these MFIs was conducted utilizing a cost function approach, which was estimated using seemingly unrelated regressions.

Findings

During the study time period, MFIs involved in the provision of group loans and with a higher percentage of loans to women had lower costs. The presence of subsidies is also found to be associated with higher MFI costs.

Social implications

Providing financial services to women, and use of group loans was associated with lower costs in Eastern Europe and central Asian microfinance institutions in the early 2000s.

Originality/value

This study focuses exclusively on efficiency of MFIs operating in Eastern Europe and Central Asia, and the first to explicitly measure outreach efficiency when output is measured by number of active clients, rather than the value of the overall MFI lending portfolio.
Government intervention in Russian bourse: a case of financial contagion
Authors: Khan Salman , Batteau Pierre
Published: October 2012

Purpose

In September‐October 2008 the Russian stock markets came under severe strain amidst the global financial crisis. During this time the Russian government intervened several times to halt the trade to impede the continuous slide. The government justified its actions owing to the argument that the crisis was due to a trickledown effect from the financial crisis in the USA and the other developed markets. The purpose of this paper is to put to test the government's claim by exploring the level of integration between Russia and the USA and European equity markets.

Design/methodology/approach

The study employs Markov Regime Switching Model for tracking structural breaks in the time series. This method divides the data into three periods, i.e. pre crisis, during crisis and post crisis. Next the Multivariate GARCH‐DCC model technique is used to establish the time varying linkages in order to verify the contagion effect. In the final step the Markowitz mean‐variance framework is used to position each individual index portfolio with respect to the efficient frontier to analyze the impact of crisis as well as Russian government intervention.

Findings

The findings suggest that the Russian equity market is weakly integrated with US and strongly integrated with European markets. The results correspond to the underlying financial and economic linkages between Russia, the US and Europe. When examined in a portfolio setup, the results show sudden fall in correlation among the Russian, US and European equity markets suggesting weak linkages among these markets. Finally, the Markowitz Efficient frontier indicates dramatic rise in volatility on the day intervention began and ended which signifies the increased uncertainty among the investors owing to Russian government ad hoc interventions.

Originality/value

The paper attempts to examine the Russian government intervention in the backdrop of financial crisis 2008 and concludes that the government intervention essentially increased the uncertainty in the local as well as international markets. Therefore, it is essential that the government should avoid direct intervention in its stock market.
Establishing green supplier appraisement platform using grey concepts
Authors: Sahu Nitin Kumar , Datta Saurav , Sankar Mahapatra Siba
Published: October 2012

Purpose

This paper aims to develop an efficient measurement index evaluation system towards assessing suppliers' green performance practices. Apart from estimating overall performance index, the paper also aims to highlight application of decision‐support tools for selection of appropriate candidate supplier in green supply chain management context.

Design/methodology/approach

In order to tackle incompleteness and imprecision arising from assigning appropriateness rating as well as priority weights against subjective performance criteria‐attributes, use of grey numbers was proposed. An efficient grey‐based supplier appraisement platform was established. Application of Grey‐Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) and COPRAS‐G method were reported to solve the supplier selection decision‐making problem. The theory of grey numbers was utilized here to facilitate such decision modeling.

Findings

Over the last two decades, growing concerns about ecosystem quality have stimulated to a renewed interest in environmentalism. Purchasing professionals should also be concerned and need to rethink purchasing strategies which have traditionally neglected environmental impacts. The “green” purchasing‐packaging in reducing and eliminating waste is a major concern in recent days. In order to help foster environmentally concerned purchasing strategies, this paper presents the findings of supplier evaluation strategy in an enterprise with enhanced degree of awareness and frequent applications of “green” purchasing. Environmental factors are identified that may reshape supplier evaluation decisions. The concept of grey numbers set has been adopted in this work. A case study reflects effectiveness of exploring grey relation theory in the context of green supplier evaluation.

Originality/value

The major contributions of this work have been summarized as follows: development and implementation of an efficient decision‐making tool to support green supplier evaluation; an overall green performance index evaluation platform has been introduced; concept of grey numbers has been efficiently explored to facilitate this decision‐making; the appraisement index system has been extended with the capability to search ill‐performing areas which require future progress; and the proposed appraisement system is capable of reducing the number of green attributes towards computing grey appropriateness index thereby transforming into lesser number of green capabilities, thus, facilitating applying decision‐making tools like grey‐TOPSIS and COPRAS‐grey method for appropriate supplier selection from a set of candidate suppliers.
The development model of new energy vehicle in Henan Province based on the weighted grey target decision
Authors: Luo Dang , Zhang Jing
Published: October 2012

Purpose

According to the nature and source of alternative energy, types of new energy vehicle include hybrid electric vehicle, pure electric vehicle, fuel cell vehicles, natural gas vehicle, coal‐to‐alcohol vehicle, bio‐fuel vehicle, clean diesel vehicle and so on. At present, all kinds of new energy vehicle are flourishing, but in the near future it is not sure what kind of new energy vehicle that national policies will support, so the risk of new energy vehicle project is large. This paper aims to address this issue.

Design/methodology/approach

Grey target decision‐making mainly was used in the choice of programs. First, the decision‐making matrix and the index weight are determined after establishing the decision‐making index system; then the positive clout and the negative clout are determined; the distance to the positive clout and the negative clout for every decision‐making program are calculated; finally, the composite distance to clout is obtained and programs sorted in light of the size of composite distance to target centre.

Findings

This paper analyzed the operating conditions of new energy vehicle in Zhengzhou and Xinxiang; and then elaborated the modelling steps of weighted grey target decision with both the positive clout and the negative clout, and used in recent decision‐making the new energy vehicle in Henan Province. It not only makes more comprehensive and rational decision‐making, but also extends the application of the grey target decision model in practice.

Practical implications

In the recent two years of formulating national and local relevant preferential policies, the enthusiasm of enterprises to participate and the level of consumer awareness are further improved; as an international trend, the development of a new energy vehicle is inevitable.

Social implications

It helps to make scientific decision‐making. The study proposes a theoretical guidance to carry out the new energy vehicle project in Henan Province.

Originality/value

This paper elaborates the modelling steps of weighted grey target decision‐making based on positive clout and negative clout, and established the model of grey target decision‐making according to the selected index; finally, it analyzes the recent development route of a new energy vehicle in Henan Province and puts forward some suggestions.
Biodegradation of ivory (natural apatite): possible involvement of fungal activity in biodeterioration of theLewisChessmen
Authors: Pinzari Flavia , Tate James , Bicchieri Marina , Rhee Young Joon , Gadd Geoffrey Michael
Published: October 2012

Fungal biodeterioration of ivory was investigated within vitroinoculation of samples obtained from boar and walrus tusks with the fungiAspergillus nigerandSerpula himantioides, species of known geoactive abilities. A combination of light and scanning electron microscopy together with associated analytical techniques was used to characterize fungal interactions with the ivory, including changes in ivory composition, dissolution and tunnelling, and the formation of new biominerals. The research was aimed at providing further understanding of the potential roles of fungi in the colonization and deterioration of ivory in terrestrial environments, but also contributes to our knowledge regarding the possible origins of the surface damage observed on early medieval sculptures made largely from walrus tusks, referred to as ‘theLewis hoard of gaming pieces’, that were presumably produced for playing chess. The experiments have shown that the possibility of damage to ivory being caused by fungi is realistic. Scanning electron microscopy revealed penetration of fungal hyphae within cracks in the walrus tusk that showed also widespread tunnelling by fungal hyphae as well as ‘fungal footprints’ where the surface was etched as a consequence of mycelial colonization. Similar phenomena were observed with boar tusk ivory, while production of metabolites could lead to complete dissolution of the sample. Colonization of ivory and/or exposure to fungal activity lead to extensive secondary biomineral formation, and this was identified as calcium oxalate, mainly as the monohydrate, whewellite.