Search results for "OPERATION"
showing 10 items of 2969 documents
I contratti di rete: valutazioni oltre l'emergenza
2018
The network contract: some evaluations after the emergency. The debate over the Italian network contract develops in the phase of the heaviest crisis for Italians firms. This article evaluates limits and opportunities of network contracts. Findings are based on 14 network cases selected among declining or growing productive sectors in the context of two regions of the South: Apulia and Sicily. Formal networks, although initiated later than in the Northern regions, are indeed now widespread also in the South. The main findings concern the inability of formal networks to support actors to come out of the crisis. Actually, the decline of the sector is one of the most relevant factors that can …
Fuzzy Portfolio Selection Models for Dealing with Investor’s Preferences
2017
This chapter provides an overview of the authors’ previous work about dealing with investor’s preferences in the portfolio selection problem. We propose a fuzzy model for dealing with the vagueness of investor preferences on the expected return and the assumed risk, and then we consider several modifications to include additional constraints and goals.
The Impact of Lbos on Investment Policies and Operations of Acquired French Firms
2002
This paper evaluates the extent that French LBO targets’ investment policy and operations can account for their overperformance discrepancy. Our empirical study has been carried out on 132 French LBOs between 1989 and 1994. The results show that the abnormal plunge in economic return cannot be explained by overinvestments or by inefficient working capital management. Nevertheless, abnormal increases in wages, supplies and/or sales price reductions appear to be prominent.
Early warning of systemic risk in global banking: eigen-pair R number for financial contagion and market price-based methods
2021
AbstractWe analyse systemic risk in the core global banking system using a new network-based spectral eigen-pair method, which treats network failure as a dynamical system stability problem. This is compared with market price-based Systemic Risk Indexes (SRIs), viz. Marginal Expected Shortfall (MES), Delta Conditional Value-at-Risk (Delta-CoVaR), and Conditional Capital Shortfall Measure of Systemic Risk (SRISK) in a cross-border setting. Unlike paradoxical market price based risk measures, which underestimate risk during periods of asset price booms, the eigen-pair method based on bilateral balance sheet data gives early-warning of instability in terms of the tipping point that is analogou…
The Importance of Alliances in Firm Capital Structure Decisions: Evidence from Biotechnology Firms
2015
Building on finance research, we argue that the ex post hazards arising from alliance formation depend upon the firm's financial condition. Financial distress jeopardizes the continuity of an alliance and the value of the investments involved. Thus, firms should reduce leverage to signal continued commitment and to induce investments from alliance partners. Accordingly, we find that a firm's current alliance propensity predicts its subsequent capital structure decisions and that this relationship is most pronounced in the presence of other exchange hazards. Our paper contributes to alliance research and to the growing literature discussing the strategic consequences of capital structure. Co…
An institutional perspective on corruption in transition economies
2017
Submitted version (preprint). This is the pre-peer reviewed version of the following article: Alon, A. & Hageman, A. (2017). An institutional perspective on corruption in transition economies. Corporate governance: An International Review, 25(3), 155-166, which has been published in final form at https://doi.org/10.1111/corg.12199. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. Manuscript Type: Empirical Research Question/Issue: Companies operating in transition economies encounter a broad range of potential challenges. In the area of tax, firms make direct tax payments but may also encounter unofficial t…
The industry effect and the decision to integrate vertically in a crisis context
2019
The objective of this work is twofold: firstly, to study if the characteristics of the industry affect certain financial and strategic decisions of manufacturing firms and, secondly, to determine i...
Banks’ business strategies on the edge of distress
2019
AbstractThe paper investigates the importance of banks’ business classification in shaping the risk profile of financial institutions on a global scale. We employ a rare-event logit model based on a state-of-the-art list of major global distress events from the global financial crisis. When clustering banks by their business strategies using a community detection approach, we show that (i) capital enhanced resilience only for traditional banks that were on average less capitalized than other banks; (ii) boosting ROE, usually associated with riskier exposures, improved resilience for stable funded and asset diversified banks; (iii) conversely, higher levels of ROA exacerbated banks’ vulnerab…
Impact of decision horizon on post-prognostics maintenance and missions scheduling: a railways case study
2021
International audience; In this paper, we propose a study of the decision horizon duration for rolling stock mission assignment and maintenance planning in a prognostics and health management (PHM) context. The aim is to determine the best decision horizon duration that allows the con- struction of a suitable schedule that assigns railway vehicles to missions and integrates required maintenance operations accord- ing to the current and future health of the vehicles. A genetic algorithm is used to minimize the overall cost of the joint schedule as a function of the decision horizon. The results are compared to three proposed heuristics to study the influence of the resolution method on the d…
Drone arc routing problems
2018
[EN] In this article, we present some drone arc routing problems (Drone ARPs) and study their relation with well-known postman ARPs. Applications for Drone ARPs include traffic monitoring by flying over roadways, infrastructure inspection such as by flying along power transmission lines, pipelines or fences, and surveillance along linear features such as coastlines or territorial borders. Unlike the postmen in traditional ARPs, drones can travel directly between any two points in the plane without following the edges of the network. As a consequence, a drone route may service only part of an edge, with multiple routes being used to cover the entire edge. Thus the Drone ARPs are continuous o…