Highest posterior density estimation from multiply censored Pareto data

In statistical practice, it is quite common that some data are unknown or disregarded for various reasons. In the present paper, on the basis of a multiply censored sample from a Pareto population, the problem of finding the highest posterior density (HPD) estimates of the inequality and precision parameters is discussed assuming a natural joint conjugate prior. HPD estimates are obtained in closed forms for complete or right censored data. In the general multiple censoring case, it is shown the existence and uniqueness of the estimates. Explicit lower and upper bounds are also provided. Due to the posterior unimodality, HPD credibility regions are simply connected sets. For illustration, two numerical examples are included.     

Effect of testosterone therapy on lumbar spine and hip mineral density in elderly men

Objective.?The aim of the present study was to analyse the effect of testosterone therapy on bone mineral density in healthy elderly men who had low levels of total testosterone.

Design.?Randomized, double-blind, placebo-controlled study.

Participants.?Forty-eight men over 60 years old with decreased testosterone levels (≤320 ng/dL) comprised the study. Twenty-five out of 48 received intramuscular injections of testosterone enanthate every three weeks during 12 months; the remaining 23 participants formed the control group. All participants had measurements of bone mineral density (BMD) in both lumbar spine and hip before and at the end of the study as well as testosterone and 17-β estradiol levels.

Results:?Testosterone treated group exhibited a significant (p < 0.05) increment (from 1.198 ± 0.153 to 1.240 ± 0.141 g/cm²) in lumbar BMD in parallel with a significant (p < 0.001) increment (from 301 ± 32 to 471 ± 107 ng/dL) in testosterone concentrations, whereas no significant change occurred in femoral neck BMD.

Conclusions.?Testosterone therapy elicited a positive effect only in lumbar BMD in elderly men with diminished testosterone serum levels.     

Policy modeling: Definition, classification and evaluation

This paper introduces a definition, a way of classifying and a method of evaluating policy modeling. An analytical tool called “Policy Modeling Consistency (PMC-Index)” has been developed for the purposes of evaluating policy modeling. The PMC-Index enables policy-makers and researchers to identify the level of consistency as well as the strengths and weaknesses within any policy modeling. The implementation of the PMC-Index involves the following four basic steps: (i) the use of multi-input-output table; (ii) classification of variables and identification of parameters; (iii) measurement of the PMC-Index; (iv) construction of the PMC-Surface. Through the PMC-Index, this paper promotes multidisciplinary approach to policy modeling. It suggests that various possible effects of any economic policy can be shown using a multi-dimensional graphical means.     

Beyond the “silo view” of strategic management and corporate governance: evidence from Fiat,Telecom Italia and Unicredit

While corporate governance and strategic management have for a long time suffered from artificial separation and, therefore, generally been tackled in a secluded manner, their combined organizational impact makes them stringently related to one another in the firms’ evolution. In this paper, we argue that, transcending the “silo view” of corporate governance and strategic management, time has come to acknowledge that, depending on circumstances and time periods, within a firm is possible to detect the relative dominance of corporate governance over strategic management, rather than the leadership of strategic management over corporate governance. Drawing on a contingency approach, we dissect the relationships (and the mechanisms that control it) between the strategic function (i.e., which defines the firms’ strategy and supervisions its implementation) and the governance function (i.e., the congruence assessment between the firm strategy selected and the interests of the ownership and of other relevant stakeholders represented in the board of directors and the effectiveness appraisal of the entrepreneurial action). Then, by performing a thorough retrospective qualitative analysis of three relevant case-histories of Italian firms (Fiat, Telecom Italia and Unicredit) operating in three different industries (automobile, banking and telecommunications), we surmise that, either in corporate governance (board) oriented or in strategic management (CEO) oriented companies, the ‘real’ problems arise when the quality of corporate governance or strategic management is poor. Interestingly, we eventually suggest to adopt a value-based approach to the relationship between corporate governance and strategy that may fruitfully complement the contingency perspective taken at the onset of the work.     

Evaluating the impact of lean practices on environmental performance: evidences from five manufacturing companies

Abstract

Previous evidence suggests that lean practices help organizations to enhance environmental performance. However, the impact of lean practices on the environment is still unclear. This study, therefore, aims to analyse the relationship between lean and environmental performance in two main stages: first, a review of the relevant literature was developed, followed by a multiple case study analysis conducted in five manufacturing companies. Onsite data were collected from the firms during a 5 years’ time span of research and developing semi-structured interviews. Findings indicate that the environmental performance of the companies analysed is generally enhanced in the long-term after the implementation of lean. Moreover, the results suggest that the environmental performance of the firms investigated is mainly improved by using JIT and TQM practices in a lean transformation context. The research findings provide further results remarking the possible negative impact of Kanban deliveries, 5S and TPM on various environmental performance indicators.     

Barriers in Green Lean implementation: a combined systematic literature review and interpretive structural modelling approach

Green Lean has recently emerged as an alternative strategy for organisations to pursue both operational and sustainability excellence. The interest on this approach has rapidly risen in both academic and industry circles. However, despite this interest, very limited research has focused on its implementation, and no research has investigated the barriers that hinder the success of such activity. This study investigates the Green Lean implementation barriers and their contextual relationships and effects on the integration and deployment of this approach. A Systematic Literature Review (SLR), Interpretative Structural Modelling and fuzzy Matriced’ Impacts Croise’s Multiplication Appliqée a UN Classement (MICMAC) analyses were carried out. Fifteen barriers were extracted from the SLR and then validated in consultation with industry and academic experts. The Interpretive Structural Modelling (ISM) method was used to understand the relationship between the fifteen barriers and to develop a hierarchical model of these. The different barriers were classified into ‘linkage’ and ‘dependent’ barriers by using MICMAC analysis. The results suggested that all the identified barriers play an important role, and hence can equally act as a significant hurdle to the implementation of Green Lean projects. This study can help managers and policy-makers in better understanding these barriers. Thus, they can be assisted in managing and prioritising barriers towards the successful implementation of Green Lean initiatives for better financial and environmental performance.     

The Dynamics of Multidimensional Poverty in Contemporary Australia

Progressively more researchers argue that successfully measuring social inequalities requires moving from income-based to multidimensional poverty indicators, but evidence on Australia is still largely reliant on the former. Using long-running panel data from the Household, Income and Labour Dynamics in Australia Survey we examine trends in multidimensional poverty in Australia between 2001 and 2013. We find that this has been relatively stable, with some evidence of an upwards trend following from the 2008 Global Financial Crisis. However, a closer examination of the individual components reveals a more dynamic picture. Deprivation concerning health, material resources, social support and education increased over the 13-year observation period, offsetting decreases in deprivation concerning safety perceptions, employment and community participation. Additionally, using counterfactual simulations, we examine the relative roles of different poverty domains in explaining changes in Australian multidimensional poverty. We find that recent year-on-year changes in multidimensional poverty are mainly driven by fluctuations in social support, health and material resources. Altogether, our findings suggest that Australian poverty-reduction policies would enhance their effectiveness and efficiency by focusing on improving disadvantage in the domains of health and material resources.     

The Trade Liberalization Evaluation (TLE) Methodology

This research paper proposes a new trade analysis model to evaluate the trend and stages of trade liberalization of any country. This new trade analysis model is entitled “The Trade Liberalization Evaluation (TLE) Methodology.” The TLE Methodology will introduce new indexes and graphs.There are four basic phases in the implementation of TLE Methodology. The first phase is the design of the multi-input tariff database table by production sector (agriculture, heavy industry,¹ light industry² and services). The second is the measuring of the Trade Liberalization Index by Production Sector (Xi), it is divided by the Agriculture Trade Liberalization Index (X1), Heavy Industry Trade Liberalization Index (X2), Light Industry Trade Liberalization Index (X3), and Services Trade Liberalization Index (X4). The third phase is the measurement of the Area of Coverage of the Trade Liberalization (ACTL) index. The last phase is the measuring of the Trade Liberalization Stage (LTS) index.The general objective of TLE Methodology is to offer policy-makers and researchers a new analytical tool to study the trade liberalization trend and stages of any country from a global perspective—based on a group of indexes and graphs. The TLE Methodology is not intended to be a forecasting model in any case. However, its application is not limited to the study of a special group of countries or regions. It is not constrained by issues about the region or the development stages of any country in a region that is interested in integrating into a Free Trade Area. TLE Methodology, in effect, is a simple and flexible scheme, which can be applied to any case of trade liberalization.