Management Sciences and Quantitative Methods Commons^™

Pricing And Product Mix Optimization In Freight Transportation, Michael F. Gorman

MIS/OM/DS Faculty Publications

We propose improved pricing and market mix can improve the profitability of the freight transportation provider through the reduction of equipment repositioning costs. We hypothesize that because of complexities surrounding pricing and equipment repositioning costing, existing pricing strategies in freight transportation fail to fully consider these costs. We test this hypothesis in an applied setting in which Monte Carlo simulation captures the stochasticity of market conditions inherent in the problem. We use a heuristic to improve the nondifferentiable, discontinuous objective function.

Our results from test cases show with high confidence that current prices are not optimal, as indicated by a …

Managing Information Technology Investment Risk: A Real Options Perspective, Michel Benaroch

Management - All Scholarship

Past information systems research on real options has focused mainly on evaluating information technology (IT) investments that embed a single, a-priori known option. However, since real options are not inherent in any IT investment, they usually must be planned and intentionally embedded in a target IT investment in order to control various investment-specific risks, just like financial risk management uses carefully chosen options to actively manage investment risks. Moreover, when an IT investment involves multiple risks, there could be numerous ways to reconfigure the investment using different series of cascading (compound) options. In this light, we present an approach for …

Impact Of Transformational Leadership On Follower Development And Performance: A Field Experiment, Taly Dvir, Dov Eden, Bruce Avolio, Boas Shamir

Department of Management: Faculty Publications

In a longitudinal, randomized field experiment, we tested the impact of transformational leadership, enhanced hy training, on follower development and performance. Experimental group leaders received transformational leadership training, and control group leaders, eclectic leadership training. The sample included 54 military leaders, their 90 direct followers, and 724 indirect followers. Results indicated the leaders in the experimental group had a more positive impact on direct followers' development and on indirect followers' performance than did the leaders in the control group.

Total Factor Productivity And Performance Of Resource-Based Industry In Malaysia, Rozilee Asid

Student Works (2000-2009)

The development of Resource Based Industries (RBIs) in Malaysia since it was first launched in 1984 has seen as turning point of the industry to gain momentum in line with the corresponding industrial policy. By using the two inputs Cobb-Douglass model specifically growth accounting model, this study tries to estimate the total factor productivity (TFP) growth for the periods of 1981-1997 in collaboration to review its development and resilient performance. Using the 3-digit-level industrial classification, it was found that six (out of 14) of the RBIs show a positive gain of TFP growth. In broad categories (5-digit-level classification), 30 industries …

Model Risks And Surplus Management Under A Stochastic Interest Rate Process, Jennifer L. Wang, Rachel J. Huang

Journal of Actuarial Practice (1993–2006)

This paper uses simulations to explore the effects of incorrectly identifying the underlying interest rate process on assets, liabilities, and surplus levels. We show that mismodeling the interest rate (called model risk) could not only lead to a misstatement of the company's surplus, but could also cause a mismatch between the company's assets and liabilities. Our simulations demonstrate that three aspects of interest rates affect model risk: (i) volatility, (ii) level of long-term interest rate, and (iii) the speed at which the drift rate adjusts. We conclude that asset-liability managers should not ignore the impact of the model risks, regardless …

Journal Of Actuarial Practice Volume 10 (2002) -- Contents And Masthead

Journal of Actuarial Practice (1993–2006)

Contents

Editorial Policy: Topics suitable for this journal include AIDS, annuity products, asset-liability matching, cash-flow testing, casualty rate making, credibility theory, credit insurance, disability insurance, expense analysis, experience studies, FASB issues, financial reporting, group insurance, health insurance, individual risk taking, insurance regulations, international issues, investments, liability insurance, loss reserves, marketing, pensions, pricing issues, product development, reinsurance, reserving issues, risk-based capital, risk theory, social insurance, solvency issues, taxation, valuation issues, and workers' compensation

Review Process

Editor - Colin Ramsay, University of Nebraska

Associate Editors: Robert Brown, University of Waterloo ○ Cecil Bykerk, Mutual of Omaha ○ Ruy Cardoso, …

Journal Of Actuarial Practice, Volume 10, 2002, Colin Ramsay , Editor

Journal of Actuarial Practice (1993–2006)

ARTICLES

Communicating Effectively with Words, Numbers, and Pictures: Drawing on Experience • Karolina Duklan and Michael A. Martin

Unearned Premiums and Deferred Policy Acquisition Expenses in Automobile Extended Warranty Insurance • Joseph Cheng

Can Utility Maximization Models Assist With Retirement Planning? • Zaki Khorasanee

Dynamic Funding and Investment Strategy for Defined Benefit Pension Schemes: A Model Incorporating Asset-Liability Matching Criteria • Shih-Chieh Chang, Cheng-Hsien Tsai, Chia-Jung Tien, and Chang- Ye Tu

Model Risk and Surplus Management Under a Stochastic Interest Rate Process •Jennifer L. Wang and Rachel J. Huang

Some Comments on the Pricing of an Exotic Excess of …

Improving Mortality: A Rule Of Thumb And Regulatory Tool, John H. Pollard

Journal of Actuarial Practice (1993–2006)

We develop a simple exact formula for determining cohort life expectancies under constant continuous uniform improvement in mortality using only a cross-sectional (period) Gompertz life table for the lives concerned and a simple approximation applicable to all life tables. The present values of annuities for such lives can be determined simply and accurately across the whole age span.

What A Mess! Participation As A Simple Managerial Rule To “Complexify” Organizations, Donde Ashmos Plowman, Dennis Duchon, Reuben R. Mcdaniel Jr., John W. Huonker

Department of Management: Faculty Publications

This paper adopts a view of organizations as complex adaptive systems and makes a case for making organizations more complex internally through the use of a fairly simple managerial rule—using participative decision making. Participation in decision making enhances connectivity in organizations, which in turn, gives the organization the opportunity to self-organize and co-evolve in more effective ways than when there is minimal connectivity (i.e., autocracy). The paper uses a specific body of research to support the arguments about why participation can benefit the practice of management in modern organizations.

The Need For And Meaning Of Positive Organizational Behavior, Fred Luthans

Department of Management: Faculty Publications

This essay draws from the emerging positive psychology movement and the author’s recent articles on the need for and meaning of a positive approach to organizational behavior. Specifically, the argument is made that at this time, the OB field needs a proactive, positive approach emphasizing strengths, rather than continuing in the downward spiral of negativity trying to fix weaknesses. However, to avoid the surface positivity represented by the non-sustainable best-sellers, the case is made for positive organizational behavior (POB) to take advantage of the OB field’s strength of being theory and research driven. Additional criteria for this version of POB …

Lmx And Subordinate Performance: The Moderating Effects Of Task Characteristics, Kenneth Dunegan, Mary Uhl-Bien, Dennis Duchon

Department of Management: Faculty Publications

Role conflict, role ambiguity, and intrinsic task satisfaction are found to moderate the relationship between leader–member exchange (LMX) and subordinate performance. Data from a field study of 146 supervisor–subordinate dyads indicate low conflict, high ambiguity, and high intrinsic satisfaction enhance the link between LMX and performance. Neutralizing effects are found when ambiguity and intrinsic satisfaction are low. High conflict appears to have a constraining effect, whereby the connection between LMX and performance is reduced but not neutralized. Results from the study call attention to the theoretical and practical benefits of examining the LMX/performance link from a contingency perspective, and offer …

Scale-Invariant Behavior In A Spatial Game Of Prisoners’ Dilemma, Yun Fong Lim, Kan Chen, Ciriyam Jayaprakash

Research Collection Lee Kong Chian School Of Business

A spatially extended version of the game of prisoner’s dilemma, originally proposed by Nowak and May, is modified to include stochastic updating and found to exhibit scale-invariant behavior. Two critical regimes with different scaling behaviors are found; the corresponding exponents have been determined numerically. Spatially, the critical states are characterized by the existence of delicately balanced networks of defectors separating domains of cooperators; temporally, the evolution of the critical states following local perturbations is characterized by avalanches of various magnitudes, which cause restructuring of the networks of defectors on all scales.

Supply Chain Management In The Twenty-First Century, Edited By B S Sahay And Ritesh Jain, Macmillan India, 2000., D Sampath

IIMB Management Review

Abstracted from the proceedings of a global conference on SCM (supply chain management) conducted by MDI (Management Development Iinstitute, Gurgaon) the book is an assortment of general and specific, qualitative and quantitative, experiential case studies and thoroughbred researches. It takes effort to assemble such diversity into a cohesive whole, but the editors have done a good job of it. Obviously with such a variety, not all readers would be interested in all topics. Twenty selected topics have been classified into five distinct sections.

Cases In Production/Operations Management By K N Krishnaswamy, Prentice-Hall India, 1999., V K Sharma

IIMB Management Review

No abstract provided.

Why Can't We Wait (To Spend) And The Law Of Unintended Consequences: Potential Negative Impact On Minority Employees From Well-Intentioned Organizational Compensation Practices, James R. Jones

Marketing and Management Faculty Proceedings & Presentations

In this time of increasing uncertainty about business viability and stability, many organizations are looking to gain control of their "bottom line" by strengthening the link between organizational outcomes and employee rewards. Long gone are the days of steadily and automatically increasing worker salaries as a hoped-for method of expanding productivity. Indeed, there is a school of thought that suggests that automatic pay increases act as a "demotivator" for many individuals. The more common approach currently is to utilize incentives (i.e., additional compensation/rewards given for performance beyond normal expectations) as a way of enhancing employee work motivation, thereby leading to …

Testing Hypothesis Of Customer Satisfaction Factors By Statistical Method, Wichan Wannalertsri

Engineering and Technology Management Student Projects

This paper is a part of evaluation and development of customer satisfaction factors for the Peter Stott Center Gymnasium research paper written by a group of graduate student in summer 2001. The purpose of this paper is analysis the information after developed hypotheses, (7 hypotheses), and collected the data. We use the statistic method (Regression Analysis Method and Microsoft Excel 2000 software) for testing and figuring out which hypotheses or factors are significant and relate with customer satisfaction. Some of data in this paper are referred to the evaluation and development of customer satisfaction factors for the Peter Stott Center …

Revenue Management: Hard-Core Tactics For Profit-Making And Market Domination By Robert G. Cross, Hyderabad: Universities Press India, 1999., Syamal K Ghosh

IIMB Management Review

No abstract provided.

Short Term Effects Of The Retrenchment Exercise On Individual And Organisational Performance In The Uganda Civil Service: Part Ii, Ibpp Editor

International Bulletin of Political Psychology

IBPP Note. The concluding segment of this article provides theory, empirical data, and analysis on some political psychological consequences of organizational retrenchment in a political bureaucracy within a country often unattended to by Western researchers. It was written by Dr. Peter Baguma, Senior Lecturer, Institute of Psychology, Makerere University, Kampala, Uganda, and International Editor, IBPP. Dr. Baguma can be reached at [email protected].

Abstract. This study set out to assess the short-term effects of a retrenchment exercise on individual and organisational performance in the Uganda civil service. In all, 247 senior and lower rank employees from 6 civil service ministries were …

Short Term Effects Of The Retrenchment Exercise On Individual And Organisational Performance In The Uganda Civil Service: Part I, Peter Baguma

International Bulletin of Political Psychology

This study set out to assess the short-term effects of a retrenchment exercise on individual and organisational performance in the Uganda civil service. In all, 247 senior and lower rank employees from 6 civil service ministries were administered a questionnaire that measured individual performance, factors hindering employee performance and suggestions on how performance could be improved, and organisational performance factors. The majority of participants reported retrenchment had positive or unknown effects on individual performance. Factors hindering employee performance were inadequate funding, lack of motivation, work overload, and lack of tools--to mention but a few. Providing a living wage, improved incentives, …

Analysing Construction Risk : A Project Management Model, P K Dey

IIMB Management Review

The success parameters for any project are ontime completion within the specific budget, and requisite performance or meeting the technical requirements. The main barriers to achievement are changes in the project environment. The problem multiplies with the size of the project. Large-scale construction projects are exposed to an uncertain environment because they are subject to such factors as planning and design complexity, presence of various interest groups (project owner, owner’s project group, consultants, contractors, vendors etc), availability of resources (materials, equipment, funds etc), climatic environment, the economic and political environment and statutory regulations. Other risk factors include the complexity of …

Miscellaneous Publication 009/2001 - Pistachios Western Australia An Income Producing Reforestation Opportunity For The Wheatbelt, Andrew Quinn

Horticulture published reports

Faced with a rising water-table, salt and acid land impacts, the Western Australian Wheatbelt requires significant changes to traditional farming system models.

Part of this drive towards improved sustainability is the need to re-plant substantial areas to tree belts or blocks. One of the limiting factors in the widescale adoption of on-farm tree planting is the narrow range of opportunities to generate income from these sites.

This report presents a model for the development of a Pistachio nut industry with production integrated into existing Wheatbelt farming systems. In addition to offering significant environmental benefits, the Pistachio tree offers the opportunity …

Changing Organizations: A Meta-Analysis Of Change Implementation Strategies' Effects On Organizational Outcomes, Jay A. Welborn

Theses and Dissertations

This research represents a meta-analysis of 24 empirical studies that explored and identified which organizational factors moderated the relationships between facilitation strategies and change adoption The results indicate two key facilitation strategies, participation and communication that produced significant results. Participation resulted in a positive impact on job satisfaction, organizational commitment, performance, and turnover rates, while communication resulted in a positive impact on job satisfaction, organizational commitment, change adoption, and intent to remain. Contrary to many research studies, participation strategy was a non-significant moderator for change adoption. The identified strategies and outcomes were then analyzed for potential moderators. Due to the …

Developing An Environmental Management System A Practical Guidebook For Agricultural Businesses, Lucy Taylor

Natural resources published reports

An environmental management system is a tool that many businesses use to improve their environmental performance. Having an environmental management system enables a business to identify and improve management of their significant environmental impacts.

Environmental management systems work to minimise environmental impacts by following a standard 'plan-do-check-improve' management framework. This framework focuses on identifying significant environmental impacts, setting performance targets, establishing means of achieving targets and maintaining sufficient records to show that targets have been reached. Environmental management systems can assist agricultural businesses in:

* improving resource management

* building public confidence in the environmental management of agriculture

* increasing …

Quality Management, Derbas Jarrah Alomar

Theses Digitization Project

The objective is to provide a better understanding of quality management, how it is used, and the contributions that it can make to an organization's profitability.

Linear Empirical Bayes Estimation Of Survival Probabilities With Partial Data, Mostafa Mashayekhi

Journal of Actuarial Practice (1993–2006)

In this paper we consider linear empirical Bayes estimation of survival probabilities with partial data from right-censored and possibly left-truncated observations. Such data are produced by studies in which the exact times of death are not recorded and the length of time that each subject may be under observation cannot exceed one unit of time. We obtain asymptotically optimal linear empirical Bayes estimators, with respect to the squared error loss function, under the assumption that the probability of death under observation in a unit time interval is proportional to the length of observation. This assumption is sometimes implied by Balducci's …

Controlling The Solvency Interaction Among A Group Of Insurance Companies, Alexandros Zimbidis, Steven Haberman

Journal of Actuarial Practice (1993–2006)

Pooling of risks is an efficient risk management technique used by large employee benefit schemes of multinational companies to self-insure their retirement and other benefit obligations. This technique forms a basis for formulating a general control theoretic model for the interaction between insurance companies within a pooling network. The objective of these insurance companies is to avoid insolvency yet maintain stable premium and surplus processes. A general control system of equations that is used as a model for the interaction of m insurance companies within the network is first analyzed. An analytic solution is provided. Questions concerning the stability and …

Exponential Bonus-Malus Systems Integrating A Priori Risk Classification, Llufs Bermudez, Michel Denuit, Jan Dhaene

Journal of Actuarial Practice (1993–2006)

This paper examines an integrated ratemaking scheme including a priori risk classification and a posteriori experience rating. In order to avoid the high penalties implied by the quadratic loss function, the symmetry between the overcharges and the undercharges is broken by introducing parametric loss functions of exponential type.

Premium Earning Patterns For Multi-Year Policies With Aggregate Deductibles, Thomas Struppeck

Journal of Actuarial Practice (1993–2006)

MUlti-year policies with large aggregate deductibles or multiple triggers raise some interesting issues about the correct amount of unearned premium reserve that a company should carry. Examples in this paper illustrate some of the difficulties that arise when trying to establish such reserves. The basic approach taken here is that the pure premium portion of the unearned premium reserve should always be adequate to cover the remaining risk. This approach, however, can lead to some unusual and controversial earning patterns; there are even situations where a negative premium is earned. In addition, the earning pattern for a particular loss scenario …

Analyzing Management Fees Of Pension Funds: A Case Study Of Mexico, Tapen Sinha

Journal of Actuarial Practice (1993–2006)

Though the rates of return for public pension funds have been high over the past two decades, one critical aspect of the financing of this type of fund is often overlooked: high management fees. As a result, the rates of return for workers who have invested in these funds have not necessarily been high. Management fees charged on pension funds in Mexico result in a leakage of funds in the order of 20-30% of the fund. That is, the amount at retirement would have been 20-30% higher had there been no fees. A model is developed that includes all the …

An Analysis Of The Performance Of The Japanese Candlestick Method In The Kuala Lumpur Stock Exchange, Yeok Kuan Leong

Student Works (2000-2009)

Japanese candlestick chart is a technical system older than bar chart and point and figure chart, and it has been used by Japanese traders few hundred years ago to analyze the price of rice contracts in Japan. However, it is unknown and unpopular for the investors out of Japan until recently. It has started to gain popularity nowadays among investors for its flexibility and effectiveness. Japanese candlestick chart is a technique that can be used as a stand-alone charting technique or as a combination with other technical techniques. This project aims to study the performance of Japanese candlestick chart in …