Supply chain decision making supported by an Open books policy

Based on a study of a buyer–seller relationship in the automotive industry, this article identifies 17 different decision-making processes where openly sharing cost data—a so-called open books policy—plays an important supporting role. These processes relate to supplier selection, various activities that occur prior to production, and the full-speed production stage of the exchange process. Overall, open books plays the greatest role in the pre-production stage, although it is found to support decision-making relating to supplier selection and decision-making during full-speed production to a greater extent than the literature recognizes

Generation of human and structural capital: lessons from knowledge management

Interorganizational and social relationships can be seen as part of the intellectual capital of a firm. Existing frameworks of intellectual capital, however, fail to address how relationships should be managed to generate more intellectual capital. Drawing on the interaction approach and the fields of intellectual capital and knowledge management, this paper develops a framework for managing relationships. The framework is illustrated with a case study. It is also noted that firms can improve relationship management and thus generate more intellectual capital

Does Corporate Culture Matter for Firm Policies?

Economic theories suggest that a firm's corporate culture matters for its policy choices. We construct a parent-spinoff firm panel dataset that allows us to identify culture effects in firm policies from behavior that is inherited by a spinoff firm from its parent after the firms split up. We find positive and significant relations between spinoff firms' and their parents' choices of investment, financial, and operational policies. Consistent with predictions from economic theories of corporate culture, we find that the culture effects are long-term and stronger for internally grown business units and older firms. Our evidence also suggests that firms preserve their cultures by selecting managers who fit into their cultures. Finally, we find a strong relation between spinoff firms' and their parents' profitability, suggesting that corporate culture ultimately also affects economic performance. These results are robust to a series of robustness checks, and cannot be explained by alternatives such as governance or product market links. The contribution of this paper is to introduce the notion of corporate culture in a formal empirical analysis of firm policies and performance.Economics of corporate culture; firm policies; firm performance

Personal Character and Firm Performance. The Economic Implications of Having Fraudulent Board Members

Unique proprietary data on Swedish board members reveal that a non-trivial proportion of board members in Swedish listed firms have been convicted of serious crimes. Analyzing the data shows that board members with personal fraudulent behavior are more likely to be males than females. We also find that the greater the proportion of fraudulent board members, the lower is the profitability and the higher are the earnings (and cash flows) volatility of the firm. However, the negative effect of fraudulent behavior on profitability is mitigated when fraudulent board members have a larger stake in the firm’s equity. Finally, we find that the earnings of firms with more fraudulent board members are lower and less value-relevant. Given the strong legal enforcement in Sweden, our results raise serious concerns about the effects of board members’ personal fraudulent behavior on firm performance and risk-taking in other countries, particularly the United States and the United Kingdom.Fraudulent behavior; Fraud; Crimes; Convicted board members; Corporate governance; Profitability; Earnings volatility

Urban Ecosystem Services and Tourism

Urban tourism depends on the place specific qualities of destinations. In many cities, climate change poses a threat to these qualities, through increasing risk of excessive heat, draught and flooding. Cities need to adapt to reduce these risks. One way of doing this is to improve their green infrastructure. Urban forests, parks, rivers and wetlands may help reduce the effects of climate change in cities. At the same time, green infrastructure provide a variety of ecosystem services to the community. In particular, cultural ecosystem services such as recreation, andesthetical values take place in urban green infrastructure; they provide value in the form of improved experiences. These mainly benefit the locals but they may also be important for tourism. Such relations between ecosystem services and tourism have in earlier literature been recognized in rural contexts but very seldom in urban. This paper reports preliminary findings from qualitative case studies in the South of Sweden and Berlin, Germany. They focus on how urban planning projects (primarily aimed at mitigating GHG emissions and adapting to climatechange) can be extended to develop places where experience values for both residents and visitors are created alongside other kinds of ecosystem services. We suggest that the need for climate change adaptation in a city may be used as a means to improve its place specific qualities as a tourist destination. By developing green infrastructure in innovative and environmentally friendly ways, the quality of ecosystem services improves, including those relevant for both visitors and residents. Protecting and building green infrastructure, therebyenhancing a city´s visible qualities and its reputation as a sustainable destination, may also be valuable in marketing the city

Polymonad programming in Haskell

Polymonads were recently introduced by Hicks et al. as a unified approach to programming with different notions of monads. Their work was mainly focussed on foundational aspects of the approach. In this article, we show how to incorporate the notion of polymonads into Haskell, which is the first time this has been done in a full-scale language. In particular, we show how polymonads can be represented in Haskell, give a justification of the representation through proofs in Agda, and provide a plugin for the Glasgow Haskell Compiler (GHC) that enables their use in practice. Finally, we demonstrate the utility of our system by means of examples concerned with session types and the parameterized effect monad. This work provides a common representation of a number of existing approaches to generalized monads in Haskell

Bridging the GUI gap with reactive values and relations

There are at present two ways to write GUIs for functional code. One is to use standard GUI toolkits, with all the benefits they bring in terms of feature completeness, choice of platform, conformance to platform-specific look-and-feel, long-term viability, etc. However, such GUI APIs mandate an imperative programming style for the GUI and related parts of the application. Alternatively, we can use a functional GUI toolkit. The GUI can then be written in a functional style, but at the cost of foregoing many advantages of standard toolkits that often will be of critical importance. This paper introduces a light-weight framework structured around the notions of reactive values and reactive relations . It allows standard toolkits to be used from functional code written in a functional style. We thus bridge the gap between the two worlds, bringing the advantages of both to the developer. Our framework is available on Hackage and has been been validated through the development of non-trivial applications in a commercial context, and with different standard GUI toolkits

Abstract modelling: towards a typed declarative language for the conceptual modelling phase

Modelling languages have become an indispensable aid to practising engineers. They offer modelling at a high level of abstraction backed by features such as automatic simulation and even derivation of production code. However, partly because of the offered automation, modelling languages are limited to specific application areas: to our knowledge, no modelling language supports mathematical physics modelling in its full generality. Yet, when developing large, coupled, multiphysics models, there is a clear need for such an overarching language to ensure the coherence of the model as a whole, even if submodels ultimately are realised in modelling languages targeting specific domains or are pre-existing. In prior work, it was demonstrated how treating models as abstract objects in category theory offers one way to ensure coherence of key aspects for composite models. Type theory offers complementary approaches. This paper presents a first step towards a language supporting abstract modelling in mathematical physics with the aim of ensuring coherence of coupled multiphysics models early in the design process. To that end, following the approach of Functional Hybrid Modelling (FHM), we discuss how a language supporting quite general modelling equations can be realised as an embedding in Haskell. The appeal of the proposed approach is that only very few core concepts are needed, which greatly simplifies the semantics. The appeal of an embedded realisation as such is that much of the language infrastructure comes for free