Deteriorating inventory model for ready-to-eat food under fuzzy environment

Decreased costs and enhanced customer satisfaction are two main objectives of SCM, and good inventory policy can achieve both simultaneously. Product perishability is a critical aspect of inventory policy. Ready-to-eat food products are very common consumer goods that are, in fact, perishable. The value the RTE food retains is, however, closely dependent on its quality. From the vendor’s point of view, quantifying quality and remaining value should be a critical business issue. In consequence, we combined the traditional deterioration model and quality prediction model to develop a new deteriorating inventory model for RTE food products. This new model quantifies food quality and remaining value. We also improved the new model by fuzzifying storage temperature to simulate temperature fluctuation. The proposed model uses real deterioration rate data. Numerical analysis is conducted in a case study. Overall, the model demonstrates that high storage temperatures reduce profits and force shorter order cycles.     

Age of Menarche,Adolescent Sexual Intercourse and Schooling Attainment of Women

We use data from the 1970 British Cohort Study to measure the effect of adolescent sexual intercourse on female schooling attainment. We emphasize the appropriate use of menarcheal age as an instrumental variable (IV) for early intercourse. Our analysis suggests that developmental trajectories vary with menarcheal age and, therefore, capturing variations in individual cognitive capacities induced by pubertal timing is crucial for the validity of the IV identification strategy. Our empirical results indicate that adolescent sexuality reduces full‐time education by approximately one year. Given that 37 percent of females in our data exited virginity in adolescence, the aggregate loss of human capital as measured by average years of female schooling could be up to one‐third of a year.     

Unpatented innovation and merger synergies

The increasingly service-based U.S. economy relies on innovation. While there is considerable research on the importance of certain innovative activities, such as patents, less attention has been paid to unpatented innovation, about which there is naturally less publicly available information. Our study exploits disclosure on the fair value of acquired innovation to show that unpatented innovation plays an important, though often ignored, role in merger value creation. We detail the importance of unpatented technology and show that traditional approaches that rely only on R&D expenditures and patents lead to both misclassification of merger types and underestimates of the impact of innovation in value creation. Our evidence suggests that, on average, unpatented innovation accounts for a larger portion of synergies. We further show that higher (lower) gains accrue to the acquirer (the target) in relation to unpatented innovation, consistent with limited publicly available information about unpatented innovation reducing the target’s bargaining power.

     

Intellectual capital and corporate value in an emerging economy: empirical study of Taiwanese manufacturers

Competitive success now is based less on the strategic allocation of physical and financial resources, and more on the strategic management of intellectual capital. Although intellectual capital is intangible and cannot be accurately measured, companies must develop methods of increasing corporate value by proactively focusing on intellectual capital management. This study examines the relationship between intellectual capital and corporate value in an emerging economy.
This study employs an intellectual capital perspective, resource-based view and a financial perspective, and investigates how to apply the concept of intellectual capital to value creation. After reviewing the relevant literature, this study identifies human capital, organizational capital, innovation capital and relationship capital as four constructs of intellectual capital. Corporate value is measured using three selection methods: (1) Market/Book value, (2) Tobin' Q and (3) Value Added Intellectual Coefficient (VAIC™). Through a questionnaire survey and secondary data collection, this study applies the Structure Equation Model to analyze the relationships among four constructs of intellectual capital, as well as the relationship between intellectual capital and corporate value.
From the empirical findings, for Taiwanese manufacturers, a positive relationship exists between intellectual capital and corporate value. This study visualizes and mobilizes intellectual capital to articulate eight value creation paths.     

Why is the food traceability system unsuccessful in Taiwan? Empirical evidence from a national survey of fruit and vegetable farmers

Food traceability systems allow the consumers or administrative authorities to trace the origins or ingredients of food products. Given the expressed concerns for food safety, the promotion of food traceability systems has occurred in many countries. Although a considerable body of literature has examined the consumer responses in regard to food traceability, relatively little is known about the producers’ adoption behaviors. To fill this knowledge gap, this paper investigates Taiwanese farmers’ participation decision in relation to the Taiwan Agriculture and Food Traceability (TAFT) program; special attention is paid to understanding the roles of the farmers’ program awareness and pesticide residue testing adoption in regard to TAFT participation. Using a national representative sample of the fruit and vegetable farmers in Taiwan, the results indicate that program awareness and pesticide residue testing adoption are the significant determinants of TAFT participation. An awareness of the government’s promotion of the TAFT program and adoption of pesticide residue testing has significantly reduced TAFT non-participation by 28.2% and 21.9% points, respectively.     

An empirical study on the effects of an enterprise fan page

Most major enterprises have invested in social networking to provide services, promote products, or communicate with customers. However, to date, no clear understanding on the effects of social networks on business performance has emerged. This study examines the relationship between the capability of the enterprise to manage social networks and the resultant benefits of their investing in the social network. A fan page on Facebook is the selected target of study. By analyzing the effort required to manage a fan page, we measured the fan-page managing capability by its number of fans. Then, we proposed six hypotheses for empirical examination of the causal relationship between enterprises’ social network managing capability and business benefits. The study applied two-stage data collection and testing. The first stage is to build a general understanding of the relationship between the number of fans and business revenue. Based on findings of the first stage, the study tested the hypotheses on selected global firms and sought patterns of benefits generated from the fan page. This study builds deep understanding from various aspects about fan-page effects on enterprises, and proposes that firms that provide products and services with characteristics of low-product price, short-product durability, and low-customer involvement are empirically influenced by the management of their fan pages.     

Higher education,employment and economic growth: Exploring the interactions

ABSTRACT

This article interrogates the impact and nature of South Africa’s post-apartheid economic growth performance through the lens of human capital investment with a particular emphasis on higher education. The South African economy has been characterised by a skills-biased trajectory, ensuring jobs for the better educated. By differentiating between tertiary and vocational training, we find that further education and training (FET) graduates are almost as likely to be employed as school leavers without higher education. We analyse the extent to which the educational attainments of labour affect the nature and trajectory of economic growth in South Africa, by estimating Olley and Pakes’ two-stage regression on a modified Cobb–Douglas production function. The results indicate that the degree cohort contributes to economic growth whilst other higher education institutions, including FET colleges, do not productively contribute to economic growth.     

Reexamining the direct and interactive effects of governance mechanisms upon buyer–supplier cooperative performance

This study aims to explore the effect of governance mechanisms (including both formal and social controls) upon the buyer–supplier cooperative performance in supply chains. Empirical evidence obtained via a mail survey from 106 firms participating in the Taiwanese “Center Satellite Production System” indicates that (1) there is an inverted U-shaped relationship between formal control and cooperative performance; (2) social control has a consistent positive effect on cooperative performance; and (3) the joint use of formal control and social control could enhance cooperative performance in supply chains but only in cases with moderate usage of formal control. Otherwise, social control becomes a supportive factor that repairs cooperative performance damage from overwhelmingly applied formal control.     

Knowledge search,spillover and creation capability in India's pharmaceutical industry

This paper examines the relationship between knowledge creation capability and both knowledge search as well as knowledge spillover effects. It investigates three research questions: (1) How does knowledge search of a firm affect the firm's knowledge creation capability? (2) How do knowledge spillovers impact the firm's knowledge creation capability and (3) Which effect – knowledge search or knowledge spillover – is greater on the firm's knowledge creation capability? To discuss these questions, it draws data from the pharmaceutical industry in India. Based on patent and citation data from the US Patents and Trademark Office, from 1979 to 2009, empirical results demonstrate that knowledge search and knowledge spillover do have positive effects on knowledge creation capability with the former having greater effects than the latter. It concludes with a discussion of the theoretical and practical implications of this study and suggestions for future works.     

Kingfisher Attacks the China Market

This article examines the entry to the Chinese market of Kingfisher plc under its B&Q brand, operating in the DIY or home improvement market. It is a pedagogically oriented case in the international strategy area, which deals with both the mode of market development by the company in China and some of the softer issues arising from that process relating to HR in the company and the inevitable cultural challenges it faced. The story begins in the mid-1990s and goes through to the early summer of 2010. On the one hand, the entry has been successful: B&Q is now a significant presence in China, holding number one position in their chosen market, which is primarily highly fragmented; there is some concentration in four key cities in the wealthy east coast region; and it has made profits over a fair portion over the last decade. Lessons were learned from the initial mistakes and the core sales proposition in China has been crafted to differ from that in the original UK home base. However, for the last three completed financial years, losses have been booked and significant changes have been made or were planned at the time of writing. Some changes were inevitable, but which were they (other than those where the Chinese government changed its rules)? Keywords