Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4738025
M. Nishihara, T. Shibata
This paper derives the firm value and the investment strategy (investment timing, debt financing, leverage, and endogenous default) when an entrepreneur makes a real investment with debt financing both in monopoly and in duopoly. In particular, we clarify the effects of the entrepreneur¿s financial constraint where a part of the investment cost must be financed by debt. The leverage and the credit spread of the constrained entrepreneur are higher than those of the unconstrained one. The investment timing of the constrained entrepreneur is later, which is consistent with the standard underinvestment theory. The financial restriction binds more tightly in duopoly than in monopoly. Surprisingly, however, in duopoly the financial constraint plays a role in moderating the preemptive competition and improving the firm value in equilibrium.
{"title":"The effects of the debt financing restriction in a real options model","authors":"M. Nishihara, T. Shibata","doi":"10.1109/IEEM.2008.4738025","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4738025","url":null,"abstract":"This paper derives the firm value and the investment strategy (investment timing, debt financing, leverage, and endogenous default) when an entrepreneur makes a real investment with debt financing both in monopoly and in duopoly. In particular, we clarify the effects of the entrepreneur¿s financial constraint where a part of the investment cost must be financed by debt. The leverage and the credit spread of the constrained entrepreneur are higher than those of the unconstrained one. The investment timing of the constrained entrepreneur is later, which is consistent with the standard underinvestment theory. The financial restriction binds more tightly in duopoly than in monopoly. Surprisingly, however, in duopoly the financial constraint plays a role in moderating the preemptive competition and improving the firm value in equilibrium.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114457177","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4738010
Qingrui Xu, Jin Chen, Litian Chen, Lu Jin, Dong Lou
Total innovation management (TIM), innovation competence and performance in SMEs are discussed in this paper. After brief introduction of TIM, this paper analyzes the key innovation management capabilities including strategy innovation capability, technological innovation capability, and marketing innovation capability, etc, which influence firm¿s performance greatly. Based on over more than 200 SMEs survey in Zhejiang Province and 2 case study, this paper shows that the innovation performance in SMEs is affected by Total Innovation Management competence. Then relevant policies and recommendations are presented.
{"title":"Total Innovation Management competence and innovation performance in SMEs. —An empirical study based on SME survey in Zhejiang Province","authors":"Qingrui Xu, Jin Chen, Litian Chen, Lu Jin, Dong Lou","doi":"10.1109/IEEM.2008.4738010","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4738010","url":null,"abstract":"Total innovation management (TIM), innovation competence and performance in SMEs are discussed in this paper. After brief introduction of TIM, this paper analyzes the key innovation management capabilities including strategy innovation capability, technological innovation capability, and marketing innovation capability, etc, which influence firm¿s performance greatly. Based on over more than 200 SMEs survey in Zhejiang Province and 2 case study, this paper shows that the innovation performance in SMEs is affected by Total Innovation Management competence. Then relevant policies and recommendations are presented.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"12 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114373008","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4738104
V. Vinod, R. Sridharan
This paper focuses on development and analysis of scheduling rules using fuzzy logic for scheduling a dynamic job shop. A discrete-event simulation model is developed for the purpose of experimentation. Six scheduling rules from the literature are incorporated in the simulation model. Three scheduling rules using fuzzy logic approach have been developed and analyzed. The max-min composition method is used for determining the fuzzy priorities. The fuzzy based scheduling rules perform better for mean flow time measure. One of the fuzzy based rules performs better for mean tardiness and percentage of tardy jobs.
{"title":"Development and analysis of fuzzy priority rules for scheduling a dynamic job shop production system","authors":"V. Vinod, R. Sridharan","doi":"10.1109/IEEM.2008.4738104","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4738104","url":null,"abstract":"This paper focuses on development and analysis of scheduling rules using fuzzy logic for scheduling a dynamic job shop. A discrete-event simulation model is developed for the purpose of experimentation. Six scheduling rules from the literature are incorporated in the simulation model. Three scheduling rules using fuzzy logic approach have been developed and analyzed. The max-min composition method is used for determining the fuzzy priorities. The fuzzy based scheduling rules perform better for mean flow time measure. One of the fuzzy based rules performs better for mean tardiness and percentage of tardy jobs.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"160 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116169808","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4737978
Xuan Du, Z. Li
The mechanism and placement process of multi-head gantry mount machine (MHGM) is analyzed. Based on the engineering analysis, the optimization problem of placement process is decomposed to component grouping, component group pickup and component group placement problems, an integrated optimization model of MHGM is formulated, the minimum displacement of arm is objective. The component size, nozzle change and different component arrangement strategy in slots is considered. Combined with heuristic method and genetic algorithm (GA), a hybrid GA (HGA) is adopted to optimize the placement process. In the individual chromosome, the feeder index and slot index describe the arrangement sequence and position of component types in the slot. The HGA use improved order crossover, adaptive mutation and local search and contains a parallel structure. The component placement sequence and the feeder arrangement are optimized simultaneously to improve the assembly efficiency.
{"title":"New model and hybrid genetic algorithm for component placement of multi-head gantry mount machine","authors":"Xuan Du, Z. Li","doi":"10.1109/IEEM.2008.4737978","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4737978","url":null,"abstract":"The mechanism and placement process of multi-head gantry mount machine (MHGM) is analyzed. Based on the engineering analysis, the optimization problem of placement process is decomposed to component grouping, component group pickup and component group placement problems, an integrated optimization model of MHGM is formulated, the minimum displacement of arm is objective. The component size, nozzle change and different component arrangement strategy in slots is considered. Combined with heuristic method and genetic algorithm (GA), a hybrid GA (HGA) is adopted to optimize the placement process. In the individual chromosome, the feeder index and slot index describe the arrangement sequence and position of component types in the slot. The HGA use improved order crossover, adaptive mutation and local search and contains a parallel structure. The component placement sequence and the feeder arrangement are optimized simultaneously to improve the assembly efficiency.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123595983","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4738137
Q. Hu, R. Peng, S. Ng, H.Q. Wang
Continuous efforts have been devoted to software reliability modeling evolution over the past decades in order to adapt to the practical complex software testing environments. Many models have been proposed to describe the software fault related process. These software reliability growth models (SRGMs) have evolved from describing one fault detection process (FDP) into incorporating fault correction process (FCP) as well, in order to provide higher accuracy with more information. To provide mathematical tractability, models need to have closed form, with restrictive assumptions in a narrow sense. This in turn confines their capability for general applications. Alternatively, in this paper a general simulation based queueing modeling framework is proposed to describe FDP and FCP, with resource factors from practical software testing incorporated. Good simulation performance is observed with a numerical example. Furthermore, release time and debugger staffing issues are investigated with a revised cost model. The analysis is conducted through a simulation optimization approach.
{"title":"Simulation-based FDP & FCP analysis with queueing models","authors":"Q. Hu, R. Peng, S. Ng, H.Q. Wang","doi":"10.1109/IEEM.2008.4738137","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4738137","url":null,"abstract":"Continuous efforts have been devoted to software reliability modeling evolution over the past decades in order to adapt to the practical complex software testing environments. Many models have been proposed to describe the software fault related process. These software reliability growth models (SRGMs) have evolved from describing one fault detection process (FDP) into incorporating fault correction process (FCP) as well, in order to provide higher accuracy with more information. To provide mathematical tractability, models need to have closed form, with restrictive assumptions in a narrow sense. This in turn confines their capability for general applications. Alternatively, in this paper a general simulation based queueing modeling framework is proposed to describe FDP and FCP, with resource factors from practical software testing incorporated. Good simulation performance is observed with a numerical example. Furthermore, release time and debugger staffing issues are investigated with a revised cost model. The analysis is conducted through a simulation optimization approach.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"115 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123990022","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4738088
M. Lanne, J. Sarsama
Effective management of safety and security risks can help a company to avoid losses. However, organizing a risk management process can be challenging. In parallel with gathering the specific information regarding technical details from several different systems, the more wide-ranging information from organizational functions is required. In addition, risk estimating requires various knowledge and understanding concerning not only technical systems but human behavior, environmental effects and economics. It is crucial to be able to constitute an overall view of the diverse risk field in order to support decision making. This article brings out the important role of collaboration in the risk management process. The focus is both on internal collaboration and information exchange across the boundaries. Based on the findings from two studies the framework of collaborative risk management is brought forth and practices supporting more collaborative approach for risk management are suggested.
{"title":"Collaboration oriented approach for managing safety and security risks in organizations","authors":"M. Lanne, J. Sarsama","doi":"10.1109/IEEM.2008.4738088","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4738088","url":null,"abstract":"Effective management of safety and security risks can help a company to avoid losses. However, organizing a risk management process can be challenging. In parallel with gathering the specific information regarding technical details from several different systems, the more wide-ranging information from organizational functions is required. In addition, risk estimating requires various knowledge and understanding concerning not only technical systems but human behavior, environmental effects and economics. It is crucial to be able to constitute an overall view of the diverse risk field in order to support decision making. This article brings out the important role of collaboration in the risk management process. The focus is both on internal collaboration and information exchange across the boundaries. Based on the findings from two studies the framework of collaborative risk management is brought forth and practices supporting more collaborative approach for risk management are suggested.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124044004","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4737939
J. Chen, E. Hui, Z.M. Wang
Surveys continuously revealed that many homebuyers suffer regret and dissatisfaction in China real estate market. Previous researches on residential satisfaction had focused on attributes of houses and individual characteristics, but the effects of service quality on post-purchase regret and satisfaction were largely ignored. This paper demonstrated that service quality significantly impacts residential purchasers' regret and dissatisfaction by three studies. Moreover, regretful or dissatisfied home-buyers were found to be likely to engage in word of mouth (WOM) in virtual communities instead of their social network. This article also indicated that the effects of regret on online WOM, voice complaint and complaint to a third party were mediated via dissatisfaction. Finally, implications for real estate service innovation and management practice and limitations of the study were discussed.
{"title":"Service quality, homebuyers’ regret and dissatisfaction in China real estate market","authors":"J. Chen, E. Hui, Z.M. Wang","doi":"10.1109/IEEM.2008.4737939","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4737939","url":null,"abstract":"Surveys continuously revealed that many homebuyers suffer regret and dissatisfaction in China real estate market. Previous researches on residential satisfaction had focused on attributes of houses and individual characteristics, but the effects of service quality on post-purchase regret and satisfaction were largely ignored. This paper demonstrated that service quality significantly impacts residential purchasers' regret and dissatisfaction by three studies. Moreover, regretful or dissatisfied home-buyers were found to be likely to engage in word of mouth (WOM) in virtual communities instead of their social network. This article also indicated that the effects of regret on online WOM, voice complaint and complaint to a third party were mediated via dissatisfaction. Finally, implications for real estate service innovation and management practice and limitations of the study were discussed.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126002415","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4737943
J.K.C. Chen, Jcs Wang, Wen-hsuan Tsai, Tsou-Shih-Wei Lin
Taiwan is an area with highest TFT-LCD industry density around the world, even exceed Japan and Korea, with anticipating, Taiwan will continue occupying leading position of the whole world in the following several years. Because of economy grows vigorously, the issue seriously damages our environment from day to day, advocating the green industrial revolution becomes one of the main trends in the 21st century, green marketing becomes the crucial operational policy of scientific and technological industry. This research plans to use bass diffusion model as the foundation structure, putting into the price parameter, setting up the model of revising, regard A company LCD as the case. The result of study finds out the model of this research both right ability and predicts ability is weak signification; demonstrate the sale of influence LCD that green marketing will be ineffective at the same time.
{"title":"Exploring innovation model combine with the green marketing to consumer’s behavior influence - a case study of a TFT-LCD company","authors":"J.K.C. Chen, Jcs Wang, Wen-hsuan Tsai, Tsou-Shih-Wei Lin","doi":"10.1109/IEEM.2008.4737943","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4737943","url":null,"abstract":"Taiwan is an area with highest TFT-LCD industry density around the world, even exceed Japan and Korea, with anticipating, Taiwan will continue occupying leading position of the whole world in the following several years. Because of economy grows vigorously, the issue seriously damages our environment from day to day, advocating the green industrial revolution becomes one of the main trends in the 21st century, green marketing becomes the crucial operational policy of scientific and technological industry. This research plans to use bass diffusion model as the foundation structure, putting into the price parameter, setting up the model of revising, regard A company LCD as the case. The result of study finds out the model of this research both right ability and predicts ability is weak signification; demonstrate the sale of influence LCD that green marketing will be ineffective at the same time.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"56 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126191959","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4737873
S. Braun, U. Lindemann
A linkage between a product's structural complexity and its costs cannot be denied - even if it is not measurable. This contribution presents an approach developed to analyze and measure the correlation between the structural assembly of mechatronic products and the composition of their development and production costs. Empirical findings will be deduced from the results of a study conducted with German companies. The goal of the study is to identify basic cost-drivers of multidisciplinary products. On that basis, guidelines for cost-efficient design - as they are well-known for mechanical design - should be deduced for mechatronic product design. The approach does not focus on specific component features but on the overall structural assembly of the product - for example the networking of physical principles, algorithms, circuits and control units. By the means of DSM analyses these structures are searched for characteristic criteria which are expected to correlate with certain characteristics of the cost structure. The procedure of the analysis and first findings about the correlation of structural criteria in the product structure and the cost structure are presented. On this basis statements for cost-efficient design of mechatronic products can be developed.
{"title":"The influence of structural complexity on product costs","authors":"S. Braun, U. Lindemann","doi":"10.1109/IEEM.2008.4737873","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4737873","url":null,"abstract":"A linkage between a product's structural complexity and its costs cannot be denied - even if it is not measurable. This contribution presents an approach developed to analyze and measure the correlation between the structural assembly of mechatronic products and the composition of their development and production costs. Empirical findings will be deduced from the results of a study conducted with German companies. The goal of the study is to identify basic cost-drivers of multidisciplinary products. On that basis, guidelines for cost-efficient design - as they are well-known for mechanical design - should be deduced for mechatronic product design. The approach does not focus on specific component features but on the overall structural assembly of the product - for example the networking of physical principles, algorithms, circuits and control units. By the means of DSM analyses these structures are searched for characteristic criteria which are expected to correlate with certain characteristics of the cost structure. The procedure of the analysis and first findings about the correlation of structural criteria in the product structure and the cost structure are presented. On this basis statements for cost-efficient design of mechatronic products can be developed.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"62 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124622217","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2008-12-01DOI: 10.1109/IEEM.2008.4737988
Te-Jeng Chang, Pi-Shan Hsu, C. Chuang, W. Chang
A top priority of global management is to manage change, which requires establishing an innovative organization to be responsive to change. Traditional and matrix organizations lack an effective horizontal structure to construct core elements required for organizational learning. An innovative organization is required to implement those core elements such as self-actualization, self-development, social acceptation, shared vision and transformational leadership. Managerial innovation is achieved by incorporating organizational learning within the innovative organization. The alignment of the core elements required for organizational learning with the key factors of an innovative organization enables an environment inspiring individuals¿ passion and initiative to manage change. Factors critical to the successful deployment of an innovative organization are presented in this study in terms of volunteer assignment, multi-task competence, autonomous community, employee entrusted authority, floating authorization and peer-group decision making.
{"title":"Key factors of an innovative organization to adapt to changing global management","authors":"Te-Jeng Chang, Pi-Shan Hsu, C. Chuang, W. Chang","doi":"10.1109/IEEM.2008.4737988","DOIUrl":"https://doi.org/10.1109/IEEM.2008.4737988","url":null,"abstract":"A top priority of global management is to manage change, which requires establishing an innovative organization to be responsive to change. Traditional and matrix organizations lack an effective horizontal structure to construct core elements required for organizational learning. An innovative organization is required to implement those core elements such as self-actualization, self-development, social acceptation, shared vision and transformational leadership. Managerial innovation is achieved by incorporating organizational learning within the innovative organization. The alignment of the core elements required for organizational learning with the key factors of an innovative organization enables an environment inspiring individuals¿ passion and initiative to manage change. Factors critical to the successful deployment of an innovative organization are presented in this study in terms of volunteer assignment, multi-task competence, autonomous community, employee entrusted authority, floating authorization and peer-group decision making.","PeriodicalId":414796,"journal":{"name":"2008 IEEE International Conference on Industrial Engineering and Engineering Management","volume":"47 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2008-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129525555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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