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Journal Cover Asian Journal of Management Science and Applications
  [4 followers]  Follow
   Hybrid Journal Hybrid journal (It can contain Open Access articles)
   ISSN (Print) 2049-8683 - ISSN (Online) 2049-8691
   Published by Inderscience Publishers Homepage  [405 journals]
  • How policies influence the implementation of industrial symbiosis: a
           comparison between UK and China
    • Authors: Yuan Tao, Dai Morgan, Steve Evans
      Pages: 1 - 32
      Abstract: In recent years, industrial symbiosis (IS) has been the subject of policy interest both in the UK and China, as a means of pursuing sustainable development that can offer new opportunities to improve economic growth and local regeneration without degrading the environment. Although IS is potentially a powerful sustainable business concept for protecting the environment and generating significant revenues, the uptake of IS is less extensive than it could be. Governmental intervention, as manifested through policies, could be influential in shaping IS development. This paper explores policy challenges in implementing IS by matching policies with the challenges to IS practice and figuring out how policies can help overcome these challenges and what are the remaining difficulties to policy-making for IS. The findings suggest that the UK follows a 'bottom-up' dominated approach whereas China follows a 'top-down' dominated approach. It is concluded that, in the UK and China, there are commonalities in policy challenges to IS implementation, and also different difficulties to policy-making in terms of building an IS enabling context in each country.
      Keywords: industrial symbiosis; industrial ecology; policy challenges; governmental intervention; UK; United Kingdom; China; sustainable development; sustainability; economic growth; local regeneration; policy making
      Citation: Asian J. of Management Science and Applications, Vol. 2, No. 1 (2015) pp. 1 - 32
      PubDate: 2015-09-22T23:20:50-05:00
      DOI: 10.1504/AJMSA.2015.071894
      Issue No: Vol. 2, No. 1 (2015)
  • A study on value setting of product functional specifications with
           consideration of parts and inventory costs for engineer-to-order
    • Authors: Jiahua Weng, Shingo Akasaka, Atsushi Hoshino, Hisashi Onari
      Pages: 33 - 47
      Abstract: To deal with various customers' requirements within short delivery time, the engineer-to-order (ETO) companies have to prepare a large variety of parts in advance, which increase the parts inventory costs. To alleviate this problem, value setting of product functional specifications is focused. If the value set for each product functional specifications item can be decreased, then, number of parts types and the parts inventory including safety stock can be reduced. On the contrary, parts costs increase because more parts with higher specifications are required. Since a product has multiple specification items and for each item dozens of values exist, therefore the value setting (selection) problem has a large number of solution combination. In this paper, calculation procedure based on genetic algorithm is proposed. A case study of drilling machines is conducted. Results show that decreasing value sets for product functional specifications can reduce the total costs of parts and inventory.
      Keywords: engineer to order; value setting; inventory costs; ETO production; product functional specification; parts inventory; genetic algorithms; case study; drilling machines; cost reduction
      Citation: Asian J. of Management Science and Applications, Vol. 2, No. 1 (2015) pp. 33 - 47
      PubDate: 2015-09-22T23:20:50-05:00
      DOI: 10.1504/AJMSA.2015.071895
      Issue No: Vol. 2, No. 1 (2015)
  • An examination of the bankruptcy prediction model, in consideration of
           profit manipulation
    • Authors: Naoya Ishii, Ling Feng
      Pages: 48 - 60
      Abstract: Accounting information published by corporations impacts many stakeholders, as well as corporations' financing and manager's bonus. Thus, managers have a motivation to make a corporation's situation look better than it actually is, and will choose to change accounting policies or actual business transactions that would affect profitability. In other words, they engage in profit manipulation. In particular, the financial poverty companies in dire financial straits have a strong incentive to do optimistic profits manipulation. The purpose of this research is to first reveal profit manipulation in financial poverty companies, and then consider whether it is necessary to account for profit manipulation when building a bankruptcy prediction model. We use the models put forth by Jones (1991) and Roychowdhury (2006) in accounting activity manipulation and real activity manipulation in financial poverty companies. In addition, the study verifies changes in profit manipulation behaviour resulting from the SOX enacted in Japan in 2008. The results show a tendency to suppress fiscal discretionary behaviour among financial poverty companies, and we think the need to account for profit manipulation when determining the likelihood of bankruptcy, based on the cases of companies that have actually experienced bankruptcy.
      Keywords: bankruptcy prediction models; modelling; profit manipulation; accounting manipulation; real activity manipulation; financial distress; accounting information; Japan; fiscal discretionary behaviour
      Citation: Asian J. of Management Science and Applications, Vol. 2, No. 1 (2015) pp. 48 - 60
      PubDate: 2015-09-22T23:20:50-05:00
      DOI: 10.1504/AJMSA.2015.071896
      Issue No: Vol. 2, No. 1 (2015)
  • Bayesian estimation of the CES production function with capital- and
           labour-augmenting technical change
    • Authors: Hideo Noda, Koki Kyo
      Pages: 61 - 80
      Abstract: In this paper, we propose a Bayesian approach for analysing factor-augmenting technical changes based on a constant elasticity of substitution (CES) production function. To estimate trends in capital- and labour-augmenting technical change, a set of Bayesian linear models is constructed based on a smoothness prior approach. A statistical model constructed for the CES production function can then be expressed in a regression model with time-varying coefficients. However, the multicollinearity between the time-series data for the explanatory variables makes parameter estimation difficult. Therefore, we express the original model using two simplified models. Estimates of the parameters for each simplified model are obtained using Bayesian linear modelling and the maximum likelihood method. We then obtain a set of synthetic estimates for the time-varying coefficients based on Bayesian model averaging. As a practical application, we examine technical changes in Taiwan and South Korea at the macroeconomic level. We find that labour-augmenting technical progress contributed greatly to Taiwan's economic growth during the period under investigation. On the other hand, in South Korea, the contribution of capital-augmenting technical change to economic growth was greater than that of labour-augmenting technical change. The results show that the proposed Bayesian approach can capture movements in technical change more rigorously than conventional approaches.
      Keywords: factor augmenting technical change; constant elasticity of substitution; CES production functions; smoothness priors; Bayesian model averaging; Taiwan; South Korea; capital; labour; linear modelling; maximum likelihood; macroeconomics; economic growth; technologi
      Citation: Asian J. of Management Science and Applications, Vol. 2, No. 1 (2015) pp. 61 - 80
      PubDate: 2015-09-22T23:20:50-05:00
      DOI: 10.1504/AJMSA.2015.071890
      Issue No: Vol. 2, No. 1 (2015)
  • Model of production system with time delay using stochastic bilinear
    • Authors: Kenji Shirai, Yoshinori Amano
      Pages: 81 - 103
      Abstract: This study proposes a stochastic bilinear differential equation to model the production process by including a time delay. The time delay is caused by factors such as variations in workers' skill levels, the delay in delivering materials, and logistical issues. We verify the existence of a unique solution to the proposed mathematical model. To obtain a unique solution, we introduce a stochastic bilinear partial differential equation. We consider that a manufacturer with external companies produces some of the ordered equipment. For the model evaluation, we compare the model results with actual data, which were obtained from the production of control equipment.
      Keywords: stochastic bilinear PDEs; partial differential equations; time delay; distributed parameter systems; average regression models; production system modelling; skills levels; materials delivery; logistics; mathematical modelling; control equipment
      Citation: Asian J. of Management Science and Applications, Vol. 2, No. 1 (2015) pp. 81 - 103
      PubDate: 2015-09-22T23:20:50-05:00
      DOI: 10.1504/AJMSA.2015.071897
      Issue No: Vol. 2, No. 1 (2015)
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