Major Industrial Sectors Research Articles

INVITED] Lasers in additive manufacturing

Additive manufacturing is a topic of considerable ongoing interest, with forecasts predicting it to have major impact on industry in the future. This paper focusses on the current status and potential future development of the technology, with particular reference to the role of lasers within it. It begins by making clear the types and roles of lasers in the different categories of additive manufacturing. This is followed by concise reviews of the economic benefits and disadvantages of the technology, current state of the market and use of additive manufacturing in different industries. Details of these fields are referenced rather than expanded in detail. The paper continues, focusing on current indicators to the future of additive manufacturing. Barriers to its development, trends and opportunities in major industrial sectors, and wider opportunities for its development are covered. Evidence indicates that additive manufacturing may not become the dominant manufacturing technology in all industries, but represents an excellent opportunity for lasers to increase their influence in manufacturing as a whole.

Knowledge Generation, Dissemination and Adoption in an Agro-industry: The Role of an Institutional Network

The Malaysian palm oil industry has become a major and diversified industrial sector over a period of forty years. Several palm oil firms have expanded internationally by establishing oil palm plantations in other developing countries, as well as by acquiring firms in developed countries. In addition, the Malaysian palm oil industry had managed to develop new technologies to improve production yields and create new products for consumers. Our study aims to analyze the role of an institutional network in the palm oil industry in the generation and sharing of new knowledge. It is suggested that this institutional network creates industry competitive advantages through the development and application of industry best-practices. A qualitative approach was used to have an in-depth understanding of the institutions involved in the institutional network and the types of interactions that take place among the key institutions for knowledge generation and sharing. The study involved gathering of primary data through in-depth interviews of key managers of palm oil palms, representatives of industry associations, government officials and senior staff in an industry-funded R&D institute. The main result of our findings shows that new knowledge is generated by on-going research activities of an industry R&D institute, which is managed as a government entity. The R&D institute is required to share the new knowledge with firms in the palm oil industry. It is found that the R&D institute tapped the knowledge of a global network of experts to search for new information and technology directions, which we call expert informational network (EIN). The institutional network is further reinforced by informal linkages among institutions and executives in the Malaysian palm oil industry. These relationships have been propagated by several generations of industry executives, industry leaders and heads of governmental units.

A method for analyzing pollution control policies: Application to SO2 emissions in China

Market-based pollution control mechanisms such as pollution levy and cap and trade have received increasing attention from both academics and practitioners. A good understanding of the optimal pollution price under these mechanisms is a premise for regulators to make sound pollution control policies. In this paper, we propose a method for deriving the optimal pollution price for a given pollution target. This method consists of two steps that integrate cost function estimation and market equilibrium analysis: First, historical data is used to estimate the pollution abatement cost functions of the polluters; second, market models are used to solve the equilibrium pollution price under each control mechanism. For illustration, we apply the method to investigate SO2 emission control policies in China, using a dataset of SO2 emissions and abatement costs from three major industry sectors (Electricity, Gas, and Water Supply; Manufacturing; and Mining). Our analysis shows that the optimal levy rate is significantly higher than the actual rate adopted by the Chinese government. For example, the optimal levy rate should be 4.92RMB/kg, while the actual rate is 1.26RMB/kg in 2010. As a result, the actual emission structure is much less efficient: The overall cost savings would be 49.7% for all three sectors during 2006–2010 if the optimal emission structure is achieved. These findings have useful policy implications for the Chinese government. In addition, the method may be applied to analyze control policies at different aggregate levels (for example, provincial economies) or for other pollutants (for example, CO2 and chemical oxygen demand).

Effect of fund size on the performance of Australian superannuation funds

AbstractThis study examines the relationship between fund size and performance for two major superannuation industry sectors in Australia: retail and not‐for‐profit, using a unique but confidential database. Results suggest that members benefit from being invested in larger superannuation funds for three reasons: (i) larger not‐for‐profit funds provide diversification benefits of investing in more asset classes including unlisted property and private equity, (ii) larger funds in both sectors avoid the scale diseconomies in investment returns documented in studies of equity mutual funds and (iii) larger funds make substantial savings by spreading fixed operating costs (such as IT infrastructure) over a larger asset base.

A Method for Analyzing Pollution Control Policies: Application To SO<sub>2</sub> Emissions in China

Market-based pollution control mechanisms such as pollution levy and cap and trade have received increasing attention from both academics and practitioners. A good understanding of the optimal pollution price under these mechanisms is a premise for regulators to make sound pollution control policies. In this paper, we propose a method for deriving the optimal pollution price for a given pollution target. This method consists of two steps that integrate cost function estimation and market equilibrium analysis: First, historical data is used to estimate the pollution abatement cost functions of the polluters; second, market models are used to solve the equilibrium pollution price under each control mechanism. For illustration, we apply the method to investigate SO2 emission control policies in China, using a dataset of SO2 emissions and abatement costs from three major industry sectors (Electricity, Gas, and Water Supply; Manufacturing; and Mining). Our analysis shows that the optimal levy rate is significantly higher than the actual rate adopted by the Chinese government. For example, the optimal levy rate should be 4.92 RMB/kg, while the actual rate is 1.26 RMB/kg in 2010. As a result, the actual emission structure is much less efficient: The overall cost savings would be 49.7% for all three sectors during 2006-2010 if the optimal emission structure is achieved. These findings have useful policy implications for the Chinese government. In addition, the method may be applied to analyze control policies at different aggregate levels (for example, provincial economies) or for other pollutants (for example, CO2 and chemical oxygen demand).

The Stabilizing Effect of Industrial Structure Upgrade on Economic Fluctuations in China

Empirical study using a time-varying parameter model indicates that since the reform and opening up of China, its industrial structure upgrade has had an increasingly significant stabilizing effect on the amplitude of economic fluctuations. A further analysis using a TGARCH model reveals that the three major industrial sectors have asymmetrical effects on the size of macroeconomic fluctuation: the primary industry (extraction) has little effect; the secondary industry (manufacturing) has a leverage effect mainly caused by heavy industry; the tertiary industry (services) has a clear stabilizing effect, with the effect of transportation, logistics, the postal industry, housing-catering services, and other service industries being most significant, and the effect of wholesale, retail, the finance industry and real estate being less significant due to their own large fluctuations. The policy implications of the findings are that to maintain stable growth in the economy, China should optimize the relations of the three major industrial sectors, and further push for the upgrading of the industrial structure, especially the development of the tertiary industry.

Effect of Fund Size on the Performance of Australian Superannuation Funds

This study examines the relationship between fund size and performance for two major superannuation industry sectors in Australia: retail and not-for-profit, using a unique but confidential database. Results suggest that members benefit from being invested in larger superannuation funds for three reasons: (i) larger not-for-profit funds provide diversification benefits of investing in more asset classes including unlisted property and private equity, (ii) larger funds in both sectors avoid the scale diseconomies in investment returns documented in studies of equity mutual funds, and (iii) larger funds make substantial savings by spreading fixed operating costs (such as IT infrastructure) over a larger asset base.

Maturation of biomass‐to‐biofuels conversion technology pathways for rapid expansion of biofuels production: a system dynamics perspective

AbstractThe Biomass Scenario Model (BSM) is a system‐dynamics simulation model intended to explore the potential for rapid expansion of the biofuels industry. The model is not predictive — it uses scenario assumptions based on various types of data to simulate industry development, emphasizing how incentives and technological learning‐by‐doing might accelerate industry growth. The BSM simulates major sectors of the biofuels industry, including feedstock production and logistics, conversion, distribution, and end uses, as well as interactions among sectors. The model represents conversion of biomass to biofuels as a set of technology pathways, each of which has allowable feedstocks, capital and operating costs, allowable products, and other defined characteristics. This study and the BSM address bioenergy modeling analytic needs that were identified in recent literature reviews. Simulations indicate that investments are most effective at expanding biofuels production through learning‐by‐doing when they are coordinated with respect to timing, pathway, and target sector within the biofuels industry. Effectiveness metrics include timing and magnitude of increased production, incentive cost and cost effectiveness, and avoidance of windfall profits. Investment costs and optimal investment targets have inherent risks and uncertainties, such as the relative value of investment in more‐mature versus less mature pathways. These can be explored through scenarios, but cannot be precisely predicted. Dynamic competition, including competition for cellulosic feedstocks and ethanol market shares, intensifies during times of rapid growth. Ethanol production increases rapidly, even up to Renewable Fuel Standards‐targeted volumes of biofuel, in simulations that allow higher blending proportions of ethanol in gasoline‐fueled vehicles. Published 2014. This article is a U.S. Government work and is in the public domain in the USA. Biofuels, Bioproducts, Biorefining published by John Wiley & Sons, Ltd on behalf of Society of Chemical Industry.

Information security governance implementation within Ghanaian industry sectors

Purpose – The purpose of this study is to assess the levels of information security governance (ISG) implementation among major Ghanaian industry sectors. The intent is to benchmark inter-industry sector ISG implementation and to identify areas that may require improvement. Design/methodology/approach – Random sampling strategy was used, and data were collected via Web survey. The data analysis utilized a one-way analysis of variance to determine the differences in means of the levels of implementation of ISG focus areas among five main industry sectors. Findings – The results showed that, as a whole, all the industry sectors have only partially implemented ISG. In particular, there existed statistical significant differences in ISG implementation among the industry sectors. Ranking ISG implementation, Financial Institutions were close to completion, Utility Companies, Others (Information Technology, Oil and Gas, Manufacturing) and Public Services had PI ISG and health care and educational institutions were at the planning stages. The result also revealed that all the industry sectors made marginal effort trying to align information security to business strategy, and performance measurement remained the least implemented focus area. Originality/value – Organizational leaders could use these findings to benchmark industry sectors’ ISG implementation, which could lead to competitiveness. Again, international enterprises that do businesses with these industry sectors would better understand the level of involvement of the top executives in governing information security toward the protection of valuable information assets.

Prevention through Design: Health Hazards in Asphalt Roofing

AbstractThe optimal method of preventing occupational illnesses, injuries, and fatalities is to design out the hazards and risks, thereby eliminating the need to control them during work operations. In 2007, the National Institute for Occupational Safety and Health launched a national Prevention through Design (PtD) initiative calling on all major industrial sectors to emphasize hazard mitigation at the design stage. PtD applies to the design of all tools, equipment, materials, and work processes that are employed during the construction process. This article reviews the asphalt roofing health hazards and currently available design solutions for their control and identifies gaps and priorities for further research. PtD solutions such as tanker systems, insulated hot luggers, mechanical asphalt spreaders, fume-suppressing asphalt, and local exhaust ventilation systems are discussed in terms of effectiveness and availability.

Factors influencing polychlorinated dibenzo-p-dioxin and polychlorinated dibenzofuran (PCDD/F) emissions and control in major industrial sectors: Case evidence from Shandong Province, China

Analyzing determinants that influence polychlorinated dibenzo-p-dioxin and polychlorinated dibenzofuran (PCDD/F) emissions is helpful for decision-makers to find effective and efficient ways to mitigate PCDD/F emissions. The PCDD/F emissions and the contributions of the scale effect, structure effect and technology effect to emissions from eight main industrial sectors in 2006, 2008 and 2010 in Shandong Province, were calculated in this article. Total PCDD/F emissions in Shandong increased by 52.8% in 2008 (614.1g I-TEQ) and 49.7% in 2010 (601.8g I-TEQ) based on 2006 (401.9g I-TEQ). According to the decomposition method, the largest influencing factor on PCDD/F emission changes was the composition effect (contributed 43.4% in 2008 and 120.6% in 2010 based on 2006), which was also an emission-increasing factor. In this case, the present industrial restructuring policy should be adjusted to control the proportion of production capacities with high emission factors, such as iron ore sintering and steelmaking and the secondary non-ferrous metal sector. The scale effect increased the emissions in 2008 (contributed 21.9%) and decreased the emissions in 2010 (contributed −28.0%). However, as a source control measure, the excess capacity control policy indeed had a significant role in emission reduction. The main reason for the technology effect (contributed 34.7% in 2008 and 7.4% in 2010 based on 2006) having an emission-increasing role was the weakness in implementing policies for restricting industries with outdated facilities. Some specific suggestions were proposed on PCDD/F reduction for local administrators at the end.

English

The aim of the paper was to examine comprehensively, the internal and external factors of organisations which affect the future of electronic commerce (e-commerce) and the magnitude of these constraints in Kenya, using the systems framework. The research methodology used a questionnaire survey (internet survey) to collect data from 137 e-commerce businesses out of which 74 or 54.01% usable questionnaires were received. The businesses ranged from very small to large organizations cutting across all major industry sectors, consisting of the following forms of ownership: local, government, multinational and joint ventures with foreign ownership. The findings of the study established the following barriers in order of decreasing magnitude: economic, social, telecommunications infrastructure barrier, legal/political, individual and organizational barriers. The first three variables are positively but moderately correlated with each other, while with the exception of telecommunications infrastructure, others are poorly correlated with individual and organisational barriers. As expected, the latter two correlate moderately with each other. The regression analysis suggests that telecommunications infrastructure barriers hold the key to unlocking the gordian knot of e-commerce in Kenya, as a decrease in this area would have multiplier effects on the other barriers. The study recommended that the government has a vital role to play in reducing the first four barriers, which are all external to organisations, while at the organisational level, organizations should set (e-commerce) goals and objectives that are well spelt out; build human organisational capital structures to facilitate good working relationships and provide training on e-commerce to minimise resistance and blocking of new changes in organizations. Key words: E-commerce, barriers, magnitude, internal and external factors, internet, Kenya, systems.

Operating efficiency and firm valuation: evidence from India

We examine the impact of operating efficiency on firm valuation. The study spans 90 firms spread over six major industrial sectors in India from 2005 to 2012. Six key ratios are considered for their possible impact on the enterprise value. Through panel data analysis, we find that gross profits, return on capital employed asset turnover and to some degree, sales have a significant impact on the enterprise value at the inter-industry level. In the collective sample, all six ratios pertaining to operating efficiency and profitability have a significant effect on enterprise value. We also note that with the infrastructure sector as the reference point, the role of banking sector is significantly positive in value creation. Further, value creation is more attendant to present performance rather than what might have happened in the past.

Dirt Research for Media Industries

Media industries scholarship takes for granted that media industries produce media commodities. The most prominent approaches in this scholarship are production culture studies focusing on media work contexts, political economic analysis that prioritizes ownership, and policy studies attending to regulatory structures. But as the major contributions of cultural theory instruct us, media produce far more than commodities. Even economist Harold Innis proposed that a study of the deep, resource-based infrastructure of major industrial sectors was essential to any full accounting of economic life. This essay addresses how Innis’s concept of “dirt” research helps us expand the boundaries of media industries studies. It shows that the concept simultaneously asks us to take stock of deep economic relations, as well as the shifting cultural formations that result. Media industries scholarship, in this way, might just be able to navigate away from a creeping administrative pull toward analyses that help “improve” dominant institutional and competitive operations, and instead encompass a wider epistemological frame that will denaturalize the priorities set by reigning media corporations.

The impact of human performance focused safety and health management practices on injury and illness rates: Do size and industry matter?

To date, research on the nature of human performance focused safety and health (S&H) management practices and their impact on occupational injuries and illnesses has been sparse within the safety literature. We addressed this research gap through a large-scale empirical study that explored the impact of S&H management practices on establishment level injuries and illnesses. Based on a sample of 364 establishments, we found that each of the individual practices identified, as well as the unitary system of S&H management practices, significantly predicted objective establishment-level safety performance. We also found that the effect of these practices on accident rates was stable across major industrial sector types but varied with establishment size.

Modelling the Spatial Distribution of Industrial and Traffic Pollution Mixtures across Canada

Background: Air pollution has been associated with a variety of adverse health outcomes. Air pollution health effects may vary by pollutant mixture, with source acting as an important indicator of mixture composition. However, pollutant mixtures are often complex and difficult to assess. This study used source apportionment to identify pollutant sources and quantify their contributions to pollutant mixtures at regulatory monitoring sites. Land-use regression (LUR) modelling was then used to predict the spatial distribution of sector-based air pollution mixtures. Methods: Source apportionment was conducted using positive matrix factorization (PMF) on volatile organic compounds (VOCs) measured from 2006 to 2009 at 47 regulatory monitoring sites across Canada. Factor masses generated for each industrial or trafic source at each site were modelled as the dependant variable in LUR analyses. Model predictors included sector-specific facilities and land-use zoning within buffer areas ranging from 500 meters (m) to 20 kilometers (km) generated using ArcMap-10.0. For traffic models, road density and distance to major roads were also included. Models were selected based on adjusted r-squared, akaike’s information criterion, and variance inflation factor using SAS-9.2. Results: PMF models identified source impacts from five major industrial sectors as well as traffic. LUR models explained approximately 70% of the variability in sector-specific pollution for four of the industrial sectors. Major predictors included sector-specific facilities within 500m to 10km. Traffic models are still under development. An improvement is expected when wind speed and direction are incorporated into the models. Conclusions: Our results demonstrate that land-use information can be combined with source attribution obtained from PMF receptor modelling to predict pollutant concentrations associated with specific industrial sectors at un-monitored sites. These models will be applied in future health studies to examine whether air pollution health effects vary by industrial sector.

Return, Volatility and Risk Spillover from Oil Prices and the US Dollar Exchange Rate to the Indian Industrial Sectors

This article examines the return, volatility, upside risk and downside risk spillover effects from crude oil prices and the US$/INR exchange rate to the major Indian industrial sectors using Hong’s (2001) approach. We make use of the generalised autoregressive conditional heteroskedasticity (GARCH) class of models based on the generalised error distribution (GED) to estimate extreme upside and downside Value-at-Risk (VaR). Our empirical results provide evidence of a significant return spillover effect from the crude oil market to the energy, FMCG and pharmaceutical (pharma) sectors and from the US$/INR exchange rate to the pharma sector. We also find evidence of significant volatility spillover from crude oil prices to the energy, fast-moving consumer goods (FMCG) and multinational corporation (MNC) sectors and from the US$/INR exchange rate to the energy and pharma sectors. Moreover, we find significant upside risk spillover from crude oil prices and the US$/INR exchange rate to all the industrial sectors (except for the energy sector with respect to the US$/INR exchange rate); significant downside risk spillover from crude oil prices to the energy, FMCG, pharma and MNC sectors and from the US$/INR exchange rate to only the pharma sector. In addition, we observe two-way downside risk spillover between crude oil prices and the US$/INR exchange rate.

An Analysis on the Industrial Technology Leakage Cases in South Korea

In this study, economy and technology development in South Korea is discussed and a problem that has accompanied the advancement is examined. Industrial technology leakage, which has been increasing in the South Korean society among the nation’s major industry sectors has resulted in immeasurable financial consequences; it can also threaten the country’s status as the world’s leading manufacturer in shipbuilding, semiconductor, and electronics. A total of twelve technology espionage cases, three from each industry, that have received substantial attention by the media and been introduced in the “Technology Leakage Cases and Security Tips” published by the Korean Association for Industrial Technology Security are analyzed in order to find common patterns, actors involved, and characteristics of the leakage activities. The results show that in most cases assessed, a former employee is motivated by the monetary rewards and utilized the external devices to transmit the information. Furthermore, viable policy implications are suggested to provide a possible solution to the problem.

Energy Efficiency of Manufacturing Processes: A Critical Review

A critical review on the energy efficiency of important manufacturing processes is presented in this study. Relevant conventional and non-conventional processes, utilized in the three major industrial sectors of aeronautics, automotive and white goods are briefly discussed. Information related to their energy efficiency is provided. The conclusions of both the analysis and the discussion comprise some practical aspects and recommendations for the energy efficient use of selected processes.

Do Long-run Relationships Exist Between Net Foreign Direct Investments and Real Output In Philippine Industries?

This paper examined whether there were long-run relationships between net foreign direct investments (NETFDIs) and real output in the aggregate and across major industry sectors (agriculture, industry and services) in the Philippine economy. The general concern was to find out the causality or the leader-follower relationships that exist. In view of this, the correlogram and Dickey-Fuller tests were performed to determine the stationarity of the variables which were a pre-requisite to further tests that establish the long-run connection. Results of the correlogram and Dickey-Fuller tests showed that real output for the whole economy (Gross Domestic Product or henceforth, GDP) and, except for agriculture, real GDP across major industry sectors are non-stationary at level form, but became stationary after their first differences. On the other hand, the NETFDIs variables were all stationary at level form, which implies the absence of trends of NETFDIs in the country. Since FDIs were already stationary at level form, further tests to determine the long-run relationships could no longer be established. This indicates that only short-run relationships exist between real output and NETFDIs in the Philippines. Results of the regression analysis showed that NETFDI has no effect on real GDP, which may be due to the “crowding-out” of investments inherent in the Philippine economy