Economic Process Management and Its Application on Bank Industry

A renewal equation approach is proposed to derive the multiple special-cause cost model for a system with two dependent subprocesses. The economic individual X control chart and simple cause-selecting control chart are thus constructed to monitor the two subprocesses. They may be used to maintain the whole process with minimum cost and effectively distinguish which component of the subprocesses is out of control. The economic design parameters of these two control charts can be determined by minimizing the cost model using a simple grid search method. An example of its application on controlling service quality in the bank industry is given to illustrate the design procedure and its application. It shows that these control charts may be used to control not only manufacturing dependent subprocesses but also service organisations with dependent subprocesses.     

Performance evaluation of retail banking services: Is there a trade-off between production and quality?

We propose a two-stage data envelopment analysis model to give an insight on the internal structure of the banking sector and study the important role of service quality in the production process. The first stage deals with the production performance and is related with the optimal use of resources to produce banking services, whereas the second stage deals with the service quality performance using customer-reported satisfaction and loyalty measures. This paper analyzes the efficiency and productivity of 36 branches of a single bank of Greece over the period 2016–2018. The results indicate the existence of a strong trade-off between production and service quality. Further insights of the study indicate that the branch size significantly affects the service quality and overall efficiency. Moreover, the employee assessments by the performance appraisal system of the bank are mainly associated with the service production and not with service quality. Finally, this study presents a managerial decision-making matrix and makes recommendations to help bank managers to improve the retail network performance.     

Estimating banking cost efficiency with the consideration of cost management

This study re-investigates the bank cost efficiency by a combination of two strands of literature. The first strand is related to bank cost efficiency; the other is related to earnings management. Employing the findings reported in bank earnings management literature, this study argues that bank observed total cost (“accounting cost”) may be the biased estimator of the true total cost. Using the biased total cost may thus yield incorrect inferences from estimating bank cost efficiency. We propose a method to modify accounting cost, which is referred to as “economic cost”, to be consistent with the economic theory; that is, one that is free of cost management. Both accounting and economic costs are then adopted to analyze the efficiency of 29 commercial banks in Taiwan banking industry. Our results show that estimated efficiency, with the application of economic cost, offers results that are more reasonable results than those of the accounting cost.     

On the relationship between cost and service models for general inventory systems

In this paper, we present a systematic overview of possible relations between cost and service models for fairly general single- and multi-stage inventory systems. In particular, we relate various types of penalty costs in pure cost models to equivalent types of service measures in service models. We show how an optimal policy for a service model may be obtained from cost-optimal policies in a related pure cost model. Pure cost models have been studied extensively in the literature. By our results it seems possible to transform many of the known optimal solutions for pure cost models to service models, which are more appropriate from a practical point of view. A number of examples are discussed to show the generality and the possibly far reaching consequences of the results.     

Learning about monetary policy rules when the cost-channel matters

We study how monetary policy may affect determinacy and expectational stability (E-stability) of rational expectations equilibrium when the cost channel of monetary policy matters. Focusing on instrumental Taylor-type rules and optimal target rules, we show that standard policies can induce indeterminacy and expectational instability when the cost channel is present. A naïve application of the traditional Taylor principle could be misleading, and expectations-based reaction function under discretion does not always induce determinate and E-stable equilibrium. This result contrasts with the findings of Bullard and Mitra [2002. Learning about monetary policy rules. Journal of Monetary Economics 49, 1105–1129] and Evans and Honkapohja [2003. Expectations and stability problem for optimal monetary policies. Review of Economic Studies 70, 807–824] for the standard new Keynesian model. The ability of the central bank to commit to an optimal policy is an antidote to these problems.     

飞机维修过程中工时管理的应用

本文介绍工时管理在飞机维修过程中作用和应用方法。飞机维修作为严谨、复杂、计划性的行业,引入工时管理是必然的。工时管理分为工时分类、数据统计、数据处理、结果反馈四个部分,渗透于飞机维修生产组织的各个环节。通过实施工时管理将给这个行业带来成本的节约,人力资源利用的改善,维修计划的完善,对维修质量的保证起到积极的效果。     

Bank ownership and governance quality in India: Evolution and detection of convergence clubs

Utilizing a novel panel dataset for the period from 2009 to 2018, this paper investigates how the corporate governance of Indian banks has evolved since the post-global crisis and identifies convergence clubs among banks in distinct ownership groups. It also presents optimal policy priorities for specific aspects of corporate governance. To assess the quality of bank corporate governance, we used a non-parametric “Benefit-of-the-Doubt” (BoD) approach to create a bank-wise composite index of corporate governance based on 48 governance norms. Empirical results have shown that while Indian banks have made remarkable progress in adhering to the mostly mandatory corporate governance norms in the past few years, but their current level of governance isn’t adequate to characterize it as a “socially-efficient” structure. A typical public bank generally prioritized maintaining adequate disclosure and transparency, by and large, while a private bank focuses more spotlight on audit function, followed by risk management and board quality. The results based on Phillips and Sul’s (2007, 2009) clustering and merging algorithms reveal two convergent clubs in the private banking segment and a sole club in the public sector banking segment.     

基于产业异质性的银行贷款政策效应分析——来自上市银行的经验证据

在银行信贷资金配置存在产业间差异的假定下,建立引入产业因素的银行贷款决定模型,考察产业因素影响银行贷款渠道有效性的内在机制,并运用2007年到2010年14家上市银行和5组产业数据展开动态面板模型估计,结果表明:从贷款需求角度看,各个产业的产出对产业贷款的影响效应存在产业间差异;从贷款供给角度看,人民银行运用货币政策工具调控产业贷款的影响效应也存在产业间差异。也就是说,产业因素确实影响到人民银行调控各个特定产业贷款的力度。     

造价咨询企业全过程造价管理咨询服务分析

随着当前社会的不断发展,各行业都在有所改变,造价咨询企业也有着很大的进步。随着投资主体越来越丰富,那么全过程造价管理咨询已经逐渐地成为造价咨询行业的重要服务内容。论文先了解全过程造价咨询内容,再说明造价咨询企业全过程造价管理咨询服务的具体实施策略,为相关研究人员提供参考。     

Quest for appropriate overcapacity in the fisheries industry

The effective management of natural resources is a critical issue that concerns many people with differing interests. This paper examines aspects of overcapacity and optimal capacity within fisheries by accounting for multiple objectives. Overcapacity arises when a fishing fleet is capable of producing more than what is demanded at the industry level, or allowed by a regulatory framework. The presence of multiple objectives within fisheries management is most often an unavoidable reality, where the objectives determine what level of overcapacity is considered optimal. A two-stage model is suggested that can produce information for management in terms of tradeoffs, policy frontiers, objective values and optimal fleet structure. In the first stage, an output-based Data Envelopment Analysis (DEA) model is applied. Efficiency is evaluated and production units transformed such that they use technologically efficient inputs and produce at their full potential. In the second stage, these transformed units are included in an aggregate industry model formulated as a multi-objective optimization program. The model provides information for managers in terms of tradeoffs, policy frontiers, objective values, and optimal fleet structure (by generating Pareto optimal solutions). The proposed model has then been applied to the Danish commercial fishing fleet.     

The shadow costs of repos and bank liability structure

Making use of a structural model that allows for optimal liquidity management, we study the role that repos play in a bank׳s financing structure. In our model the bank׳s assets consist of illiquid loans and liquid reserves and are financed by a combination of repos, long-term debt, deposits and equity. Repos are a cheap source of funding, but they are subject to an exogenous rollover risk. We show that the use of repos inflicts two types of indirect (“shadow”) costs on the bank׳s shareholders: first, it induces the bank to maintain higher liquid reserves in order to alleviate the additional default risk; second, it adds to the cost of long-term debt financing. These shadow costs limit the bank׳s appetite for cheap but unstable repo funding. This effect is, however, weakened under poor returns on risky assets, access to deposit funding and the depositor preference rule. We also analyze the impact of a liquidity coverage ratio, payout restrictions and a leverage ratio on the bank׳s financing choices and show that all these tools are able to curb the bank׳s reliance on repos.     

浅谈零部件切换前后的订货管理

2009年,随着国家对微车利好政策的出台,引发微车行业市场销售火爆的局面。公司在原有的基础上加大生产力度,产销量不断攀升,车型不断丰富,加强对供应链的优化和管理,在很大程度上不仅可以改进质量,也可以有效降低成本,从而实现公司"低成本,高价值"的目标。文章主要从新车型投产前试装订货管理、旧车型停产时订货管理、零部件切换时订货管理、剩余零部件处理等几个方面阐述五菱车制造过程中零部件切换前后的管理经验。     

出租汽车服务水平及指标标准化研究

出租汽车服务水平是行业发展的关键问题。通过对出租汽车行业巡游服务特点、政府管制、服务质量和水平,以及国内外出租汽车行业标准化现状研究分析,结合国际先进服务理念提出出租汽车服务水平和服务质量概念和关系;在行业发展永恒的主题：服务水平和质量、政府管制要求下提出“以人为本”、服务于政府公共政策的标准化原则。进一步提出了适合我国国情的以服务密度为主要内容和针对我国国情的出租汽车稳定发展指标组成的服务水平指标体系,并给出确定服务水平等级的方法和示例。     

研究制造业工艺装备管理

为了能够进一步提高制造业的市场核心竞争能力,核心内容就是在合理降低成本的基础上,提高产品的质量与产品的生产效率,从而缩短交货的时间。而对于生产效率、产品生产质量以及生产成本来说,其都与工艺装备有直接的关系,只有通过有效的工艺装备管理,才能够切实提高企业的市场核心竞争能力,促进制造业的发展。基于此,论文主要对制造业工艺装备管理进行分析,以供参考。     

A profitable trading rule for net borrowers on settlement Wednesday

Griffiths and Winters (1995) suggest that the rules and regulations of the bank settlement process create incentives such that banks optimizing their reserve account management will borrow on settlement Wednesday to obtain the funds necessary to meet Federal Reserve Board mandated reserves. We develop a trading rule for settlement Wednesday that reduces the cost of borrowing by exploiting the predicted daily trading behavior of the Federal Reserve Open Market Desk. The strategy reduces the cost of borrowing by approximately $43,333 per $1 billion on an annualized basis in simulated trading. Our results reinforce that optimal reserve account management is a function of the rules and regulations governing overnight money markets.     

Robust monetary policy in a small open economy

We study how a central bank in a small open economy should conduct monetary policy if it fears that its model is misspecified. Using a new-Keynesian model of a small open economy, we solve analytically for the optimal robust policy rule and the equilibrium dynamics, and we separately analyze the consequences of central bank robustness against misspecification concerning the determination of inflation, output, and the exchange rate. We show that an increase in the preference for robustness makes the central bank respond more aggressively or more cautiously to shocks, depending on the type of shock and the source of misspecification.     

基于豪泰林模型的我国证券业佣金战原因分析

文章运用豪泰林模型对我国证券业愈演愈烈的佣金恶性竞争的原因进行了分析,认为服务的同质是造成这种状况的重要原因,从而针对性地提出了两点政策建议以增强证券业服务的差异。     

汽车企业召回逆向物流对策分析

目前我国汽车市场竞争激烈,汽车企业必须从成本、质量和服务水平上下工夫,而实施逆向物流管理可使企业在这几方面得到提高。本文正是基于上述背景,分析了汽车企业的逆向物流管理问题——汽车召回的现状及其存在的问题;最后提出对策使得企业通过有效的召回逆向物流提升竞争力。     

中国医疗卫生事业效益分析之系列研究——2010年西藏、青海、宁夏三地医疗行业效益分析

研究2010年西藏、青海、宁夏医疗卫生行业现状,三地均发挥着较好的社会效益和社会责任,应加强成本预算控制成本支出。西藏地区应加强医疗技术、医疗服务质量和管理能力的提高,青海地区应加强流动资金的利用,宁夏地区要重视资产规模的结构和质量,避免盲目扩张。     

Optimal monetary policy in a new Keynesian model with animal spirits and financial markets

This article presents a macro-finance-interaction model that integrates a NKM with bounded rationality and an agent-based financial market model. We derive four interactive channels between the two sectors where two channels are strictly microfounded. We analyze the impact of the different channels on economic stability and derive optimal (conventional and unconventional) monetary policy rules. We find that coefficients of optimal Taylor rules do not significantly change if financial market stabilization becomes part of the central bank׳s objective function. Additionally, we show that rule-based, backward-looking monetary policy creates huge instabilities if expectations are boundedly rational. Our model is externally validated by showing that it generates fat tailed output growth rates.