An association clustering algorithm for can-order policies in the joint replenishment problem

Many studies have shown that the total cost of employing joint replenishment for correlated items is less than the total cost of using single-item replenishment. Savings increase dramatically when the demand between items is closely related. Although the benefits of joint replenishment are significant, it is difficult to define the demand correlation among items, especially when the number of items increases. A large number of items reduces the efficiency and advantage of the multi-item inventory control. To overcome this difficulty, an association clustering algorithm this paper proposes to evaluate the correlated demands among items. The proposed algorithm utilizes the “support” concept in association rule analysis to measure the similarity among items. Based on these measurements a clustering method is developed to group items with close demand in a hierarchal way. The can-order policy is then applied to the optimal clustering result as decided by the proposed performance index. To illustrate the benefits of the proposed association clustering algorithm for replenishment systems, a set of simulations and a sensitivity analysis is conducted. The results of the experiments show that the proposed method outperforms several replenishment models.     

The Term Structure of Reserve Durations and the Duration of Aggregate Reserves

Estimating the duration gap of a life insurer demands the knowledge on the durations of liabilities and assets. The literature analyzed the durations of assets extensively but rendered limited analyses on the durations of insurance liabilities. This article calculated the reserve durations for individual policies and estimated the duration of the aggregate reserves. The results showed that the duration of the policy reserve might be negative and/or have a large figure. They further revealed an interesting pattern of the reserve duration with respect to the policy's time to maturity. A term structure with abnormal durations, however, does not result in an abnormal duration of the aggregate reserves.     

The Relationships between Resource Configurations and Launch Strategies in Taiwan's IC Design Industry: An Exploratory Study

Within the last decade, the link between launch strategies and new product performance has been widely investigated. However, the relationship between resource configurations and launch strategies has received little attention. This study endeavors to fill that void by examining the relationships between resource configurations and launch strategy selections. In addition, this study investigates the moderating effects of market growth and competitiveness on the relationship between resources and launch strategies. Drawing on contingency theory and strategic studies, this study proposes that resource contingencies affect changes in launch strategies. This study also suggests that market characteristics play a contingent role in the relationships between the configurations of resources and launch strategy choices. Based on extensive studies reporting on market characteristics and their links to strategies, this study proposes that two market characteristics—market growth and competitiveness—are relevant for launch strategy decision making. Taiwan's integrated circuit (IC) design industry has been used as the analytical sample, as it has been identified as a promising sector for new product development. Based on the result of investigating 90 firms, four resource configurations are identified: (1) strategic and organizational abilities; (2) technological capabilities; (3) societal assets and goodwill; and (4) physical assets. Furthermore, two different launch strategies—innovative and product advantage and cost oriented—also are discovered. The results from a seemingly unrelated regression model reveal that technological capabilities and societal assets and goodwill contribute to the variation in the firms' choices of launch strategies. This study further conducted the simple slope analysis to observe the effect of the technological capabilities on the innovative and product advantage strategy under different levels of the market growth rate. The results interestingly showed that firms with technological capabilities demonstrated different degree of tendencies in employing this strategy in alignment with various market growth rates. The finding sheds some lights on the moderating role market characteristics play on the relationships between resource configurations and launch strategy selections. Academic implications and suggestions for practitioners also are provided.     

Benchmarking,knowledge inertia,and knowledge performance in different network structures

ABSTRACT

A simulation approach is employed to examine the relationship between benchmarking and OKP, and how knowledge inertia in benchmarking influences OKP in different network structures. Results suggest that quick benchmarking (low knowledge inertia) and moderate mutual learning produce higher short-term OKP. Slow benchmarking (high knowledge inertia) and moderate mutual learning achieve higher long-term OKP. OKP performs better in scale-free networks than in small-world networks in the short period. However, in the long period, OKP is higher in small-world networks. Findings guide managers’ efforts in choosing the most suitable benchmarking and also suggest that managers should not ignore knowledge inertia.     

A Reflection on Cultural Conflicts in Women's Leisure

This essay addresses the cultural implications of leisure by using an example of the relationship of mothers-in-law and daughters-in-law in Taiwan. Historically, Chinese people have lived in an extended family arrangement, usually with three or four generations together. The modern nuclear family leads to conflicting ways of negotiating the intergenerational relationships and women's leisure. Contradictions for women are brought about by the influences of new Western and old Confucian cultures, which are described in this essay.     

Ruin time and aggregate claim amount up to ruin time for the perturbed risk process

We consider the classical Sparre-Andersen risk process perturbed by a Wiener process, and study the joint distribution of the ruin time and the aggregate claim amounts until ruin by determining its Laplace transform. This is first done when the claim amounts follow respectively an exponential/Phase-type distribution, in which case we also compute the distribution of recovery time and study the case of a barrier dividend. Then the general distribution is considered when ruin occurs by oscillation, in which case a renewal equation is derived.     

Discussing Brand Information on Social Networking Sites: Implications for Global Brand Marketing

Due to the proliferation of information that global brands disseminate on social networking sites (SNS), how to induce SNS users to discuss such information is a topic deserving intensive research efforts. In recent years, scholars have begun to explore the topic from several perspectives. However, there is still a lack of conceptual theorization and empirical verification with more comprehensive probing into the psychological processes through which SNS users become motivated to engage in discussing brand information provided by brand marketers. The current study, based on integrative reconfiguration of relevant theories and a large-scale survey, develops and validates a theoretical model to explicate the key determinants in this regard. Data were obtained from 1518 respondents, who have been active SNS users for at least one year. Confirmatory factor analysis and structural equation modeling facilitate validation of the model. According to the research findings, affective attitude is a stronger factor than instrumental attitude in predicting the discussion behavior of SNS users relative to brand information intentionally designed and disseminated by brand marketers. Additionally, past behavior in discussing online business news, alongside subjective norm and perceived behavioral control, exercises significant effect on such behavior. Most noteworthy, identity construction generates the greatest impact on behavioral intention and actual behavior among SNS users to discuss brand information that brand marketers provide to them. In general, the current study contributes to making better use of SNS for global brand marketing.     

Impact of initial seeds on the growth of biotechnology startups: evidence from the U.S. and Japan

ABSTRACT

We assess the impact of initial seeds on the long-run growth of biotechnology startups, including the response of the capital market, in the U.S. and Japan. For this purpose, we collected a comprehensive dataset of the matched sample of listed firms from their foundations to the post-IPO period. We find that the quality of initial seeds predicts significantly both the level and the growth rate of the patent stock as well as those of the asset size of the U.S. startups, even controlling for their alliances and acquisitions, while it predicts only the level of the patent stock for the Japanese startups. Furthermore, the asset growth and the patent stock growth in turn account for the market value performances of the U.S. firms much more significantly than those of the Japanese firms. On the other hand, there are only small differences with respect to the time to IPO and the asset growth through the IPO. These results suggest that higher quality of initial seeds significantly enhanced long-run growth of biotechnology startups in the U.S. but not in Japan, and that the differences in fertility of the initial seeds and in efficiency of the capital market could significantly explain the difference.     

The Impact of Tour Guides’ Physical Attractiveness,Sense of Humor,and Seniority on Guide Attention and Efficiency

In this study, we investigated whether tourists view attractive tour guides as more competent, humorous tour guides as more approachable, and experienced tour guides as more professional, and whether these three factors influence the effectiveness of tour guide interpretation. The results indicated that physical attractiveness and humor had additive effects on interpretation effectiveness when combined. Although some tour guides were not physically attractive, experience provided an additive effect on interpretation effectiveness. Thus, we recommend discarding stereotypes regarding physical attractiveness and improving education and training in humor for tour guides. Experienced tour guides wearing appropriate attire also increases interpretation effectiveness.     

Working in Macau Casinos: The Perceptions of Hong Kong Tertiary Students Majoring in Hospitality

This study examines the perceptions of students at a Hong Kong tertiary institution majoring in hospitality as to the importance of various job selection criteria in considering whether to work in the Macau casino industry. A total of 259 valid survey questionnaires were returned and the results showed that the respondents perceived good wages as the most important job selection criterion. Significant differences between respondents in the perceived importance of individual criteria were also found. The implications of these are discussed and suggestions are made for future research.