WWW.THESES.XLIBX.INFO
FREE ELECTRONIC LIBRARY - Theses, dissertations, documentation
 
<< HOME
CONTACTS



Pages:     | 1 |   ...   | 57 | 58 || 60 | 61 |   ...   | 156 |

«VOLUM E 1 1, N UM B E R 1 I S SN 2 1 6 8 - 0 6 1 2 F L ASH DR I V E I S SN 1 9 4 1 - 9 5 8 9 ON L I N E T h e In s t it ut e f o r Bu s i n e s s an ...»

-- [ Page 59 ] --

In this study, the proposed procedure is applied to a data set consisting of electric utility companies operating in developed countries in North America, Europe, and Asia. Firms’ inputs and outputs are used in measuring DEA operational efficiency. Inputs for each firm are the total number of employees, total assets, and the total cost of production. Output for each firm is measured as total sales. The DEA model used in this study is a non-radial DEA model, which can incorporate the influence of slack in production factors on the measure of efficiency. The financial measures in this study are ROA, ROE, and Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) margin, which represents the firm’s profitability; the ratio of stockholders’ equity to total assets, which represents the firm’s capital structure;

and free cash flow, which represents the firms’ operational flexibility. Equation (1) is estimated by use of panel estimation and dynamic panel estimation.

SUMMARY

This study proposes a new procedure for assessing corporate value based on measures of operational performance and financial performance and accounting for the discrepancy between actual and estimated corporate value. Applying this method to a data set of electric utility companies may demonstrate its practicality as a tool for analyzing corporate value and the relationships among corporate value, operational performance, and financial performance. That application is a future task for this research.

REFERENCES

Sueyoshi, T., M. Goto, J. Shang, 2009. Core business concentration vs. corporate diversification in the US electric utility industry: synergy and deregulation effects. Energy Policy Vol. 37, pp. 4583–4594.

Sueyoshi, T., M. Goto, 2011. Operational synergy in the US electric utility industry under an influence of deregulation policy: A linkage to financial performance and corporate value. Energy Policy Vol. 39, pp.

699-713.

Shiller, R.J., 1981. The use of volatility measures in assessing market efficiency. The Journal of Finance, Vol. 36(2), pp. 291-304.

LeRoy, S.F. and R.D. Porter (1981). The present-value relation: tests based on implied variance bounds.

Econometrica, 49, 555-574.

ACKNOWLEDGEMENTS

This work was supported by a Japan Society for the Promotion of Science (JSPS) Grant-in-Aid for Scientific Research (KAKENHI) 26285050.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 270 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1

BIOGRAPHY

Mika Goto is Professor of Applied Economics at Tokyo Institute of Technology at Tokyo. Her research appears in journals such as Energy Economics and Energy Policy. She can be reached at Tokyo Institute of Technology, 2-12-1, Ookayama, Meguro-ku, Tokyo 152-8552, Japan.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 271 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1

–  –  –

Due to its strategic geographical location, its network of trade agreements, to the potential entry into force of the Trans-Pacific Partnership and the saturation of the ports of Long Beach and Los Angeles, it is clear that Mexico must have a system of logistics platforms distributed in such a way that it can meet both internal logistical needs as well as the opportunities that the international trade demands for the country to become a continental logistics platform. The Inter-American Development Bank and the Mexican Government, published in 2013 a study entitled National Logistics Platforms System of Mexico (NLPS), identifying 85 strategic logistics nodes which suggested these made up the NLPS. This article defines the key aspects that logistical platforms should have and propose as future actions a methodology to assess such aspects, to determine which of the main nodes qualified to be a logistics platform and once identified associate them the remaining nodes through cluster analysis technique to establish the proposed mapping NLPS.

KEY WORDS: Logistics Platform, Logistics Cluster, Elements of a Logistics Cluster JEL: F63, C100

INTRODUCTION

An economy that wants to compete globally needs to have an infrastructure to facilitate the flow of goods, services and the movement of people in a quick, efficient at low cost. Adequate infrastructure potentiates the country's productive capacity and opens up new development opportunities for the population (Plan Nacional de Desarrollo, 2013). Mexico as an emerging economy, has built much of its development in its capacity and ability to insert in the process of globalized trade. In the decades following the start of trade liberalization, particularly after the signing of the North America Free Trade Agreement (NAFTA), the Mexican economy has undergone a transformation of the first order (Consejo Mexicano del Transporte, 2012). In addition, it is a cornerstone for consolidating stability and prosperity in the region, with its network of trade agreements, the country has the opportunity to serve as logistics and business platform between the north and south of the American continent (Plan Nacional de Desarrollo, 2013).





One misconception that prevails in Mexico is to look only to the Asian market as a competitor to enter in the United States market. The potential entry into force of the Trans-Pacific Partnership (TPP) is a momentous opportunity for Mexico and it must not allow other countries to achieve better market access with its main partner but rather serve as a bridge between these nations and the United States (Consejo Mexicano del Transporte, 2012). Moreover, Alfredo Millan Alarid (February 2013) Rector of the Asia Pacific University in Sinaloa, Mexico, warned about the saturation on ports of Long Beach and Los Angeles and he also mentioned the opportunity for the country to develop new nodes for transporting goods from Asia-Pacific. The saturation occurs because of the large volume growth from the Asian market, 90% of goods coming through these ports are of Asian origin and the delay ranges between 6 and 21 days, implying severe commercial damage, due to losses in: the right of use of port infrastructure, insurance, stay ship and the impact on the supply chains involved. It is clear that Mexico must have a system of logistics platforms GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 272 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 distributed so that the internal logistical needs are met, and the opportunities that the international trade demands enable the country to become a continental logistics platform.

LITERATURE REVIEW

Considering that the research topic has been poorly studied, the literature that addresses this issue is about theoretical concepts of logistics clusters, presentations by experts on the subject, research from national and international organizations as well as government agencies and some academic articles. There are several cases known of successful industrial clusters, which are defined as a geographic concentration of interconnected companies and institutions in a particular sector; they bring together a wide range of related industries and other entities important to competition (Porter, 1998).

Transportation technology, instead of going directly from source to destination promotes the movement of goods through central facilities consolidation. Due to the flow of goods through these centers, many other related logistics services including warehousing and distribution, migrate to these centers, promoting their development, and in many cases, making them clusters or logistics platforms well established. There are thousands of logistics clusters worldwide. They are known as "Logistics Villas" in Germany, "Logistics Parks" in Japan," Logistics Platforms" in Spain and several other names worldwide (Sheffi, 2012). The best examples are the logistics cluster of Zaragoza in Europe and Singapore in Asia.

Sheffi (2012) highlights the importance of having a logistics platform in Latin America and the Caribbean (LAC), claiming that the logistics efficiency is one factor that is stopping part of the immense potential of the LAC. He also considers that the right investments in infrastructure, training, education and government policies can unlock this potential. One of the most important logistics investments in the world is taking place in LAC with the Panama Canal expansion. However, according to a presentation by Rector Alfredo Millán, even when this project is completed it will still exist a bottleneck in the flow of goods coming from Asia to America as well as those crossing to Europe.

It is clear that Mexico has many conditions to become the logistics platform of America: the privileged geographical position for its proximity to the United States, good weather almost all year round and its geography that connects the Pacific Ocean with the Atlantic. Nonetheless, it has several improvement opportunities to be considered as a destination with strength to move goods quickly and cheaply. The country must articulate a system of logistics platforms and improve transport infrastructure road, rail, air and port to allow the transfer of cargo safely, efficiently and at competitive costs (Consejo Mexicano del Transporte, 2012). Also, Rodriguez et al (2014) conducted a type of SWOT analysis that compares Mexico and Panama, where they conclude that Mexico has greater geostrategic advantage over Panama for being in a privileged geographical location, Mexico has two oceans in their coasts, it similarly has geographical connectivity with sub-continents of America and shares 3,000 km of land border with the first potency of the world. It also has a wide network of road, sea and air and 11 multimodal corridors.

The Inter-American Development Bank (BID) in joint venture with the Ministry of Economy (SE) and Ministry of Communications and Transport (SCT) of Mexico, published in 2013 a study entitled National Logistics Platforms System of Mexico (NLPS), whose objective was to strengthen the role of competitive export supply in Mexico and optimize the efficiency of domestic distribution processes, ensuring their correct articulation with the territory and its connectivity to transport networks and nodes of foreign trade.

Through a socioeconomic, productive, infrastructure, logistics and trade analysis, the BID identifies 85 strategic logistics nodes (of which 16 are principals) and proposes that these make up the NLPS.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 273 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1

METHODOLOGY

Whereas in the cities where the top 16 nodes identified by the BID are located, according to the literature, not all of them qualify for logistics platforms, the first phase of this research is to identify and represent schematically the key aspects that a major node must have to be considered candidate as a logistics platform.

These aspects are proposed by different references of the literature reviewed Sheffi (2013), Southwest Corridor Organization (2014), Desarrollo Económico de San Luis Potosí (2009-2015) & Garaviz (2009), and are represented in Figure 1.

Future Actions

Subsequently, it will be held a qualitative comparative analysis of the 16 main nodes against key aspects, then the nodes that best meet the elements; its geographic location will be evaluated to select those that are strategically distributed. Once selected the nodes with potential to become logistics platforms, analysis cluster technique will be applied using SPSS software, whose main purpose is to group objects based on their characteristics, so as each object is very similar to the ones in the conglomerate according to some variables selected by default (Hair, 1999). In this case, two strategic variables which are the population and the coordinates of the remaining nodes will be used to associate them with logistics platforms chosen in the qualitative analysis.

Finally, with the result obtained from the statistical analysis, this will be interpreted for mapping logistics platforms distributed throughout the country and its associated nodes; this will render the proposed NLPS.

CONCLUSIONS

Taking up the mechanisms of a cluster model and understanding that can be applied to the logistics sector to add value, the proper functioning of logistics platforms and cohesion of the members involved will be enhanced. Experts and studies agree that Mexico is destined to be America logistics platform for various geographical, strategic and commercial basis, which represents a great opportunity for the country. It is considered that this research can give a close idea of how to integrate the system of logistics platforms in Mexico, as the study by the BID lacks an informed methodology to determine the selection and operation of a system of logistics platforms. Finally, it is important to note that the investment and the economic impact that a system of logistics platforms promises, attracting private sector investment, creating business connections and sources of employment, it will increase the socioeconomic status of the various regions and the logistical, economic and competitive level of the country.

GCBF ♦ Vol. 11 ♦ No. 1 ♦ 2016 ♦ ISSN 1941-9589 ONLINE & ISSN 2168-0612 USB Flash Drive 274 Global Conference on Business and Finance Proceedings ♦ Volume 11 ♦ Number 1 Figure 1: Key Elements of a Logistics Cluster Source: Author

REFERENCES

Admin. (24 de Marzo de 2014). Soutweast Corrior Northwest Passage. Recuperado el 2 de Julio de 2015,

de Analyzing the development of a logistics hub:

http://southwestcorridornorthwestpassage.org/analyzing-development-of-logistics-hub/ BID. (2013). Sistema Nacional de Plataformas Logísticas de México. México: Banco Interamericano de Desarrollo.

CMT. (2012). México Plataforma Logística de América, Agenda de Desarrollo en el Sector Transportes.

México: Consejo Mexicano del Transporte.

Garaviz, E. M. (2009). Propuesta para el Desarrollo de un Clúster Logístico para un Corredor Logístico para un Corredor Logístico Nacional e Internacional Competitivo en Colombia.



Pages:     | 1 |   ...   | 57 | 58 || 60 | 61 |   ...   | 156 |


Similar works:

«THE QUALITY MANAGEMENT SYSTEM – IS YOURS UP TO STANDARD? Nigel Anderson, Head of Global Service Delivery Group Corporate Facilities Management, EMEA 1. SETTING THE SCENE Customer service expectations in the workplace are varied and complex and most companies offering workplace solutions have some form of operating manual, which is intended to be a management tool for their delivery teams. But is the manual used? Does it represent “the way you work”? And is it a truly effective management...»

«DATA HANDLING  IN GOVERNMENT  JUNE 2008 DATA HANDLING IN GOVERNMENT  EXECUTIVE SUMMARY  1.  On  23  November  2007,  the  Scottish  Government  announced  that  it  would  conduct  a  coordinated  review  of  information  security  policies  and  data  handling  arrangements  in  Scotland.    The  Scottish  Government's  Strategic  Board  asked  the  Director­General Justice and Communities to co­ordinate this review, supported by a ...»

«One Body, Many Parts and a Principle of Double Exclusion (or, Two Things You Cannot Say) – 1 Corinthians 12 Two practical realities fed the need for the early church to live out its faith in a context of genuine reconciliation. First, there simply was no other “church” to go to. When the original Apostles and Paul went with their missionary teams, preached the Gospel and started new churches, everyone was invited to the same group. There was no competition of denominational claims or...»

«Colombia: Descentralización de las actividades de Reducción del Riesgo de Desastre. Sistema Nacional de Prevención y Atención de Desastres (SNPAD) Coordinadora: Luz Amanda Pulido Directora de la DPAD Dirección de Prevención y Atención de Desastres direcciongen@dgpad.gov.co Internet: www.dgpad.gov.co Panorama Por su ubicación geográfica, las características físicas de su territorio, la concentración de su población y las actividades económicas en la región de montaña del país,...»

«STAAR ® State of Texas Assessments of Academic Readiness English II Reading Administered April 2013 RELEASED Copyright © 2013, Texas Education Agency. All rights reserved. Reproduction of all or portions of this work is prohibited without express written permission from the Texas Education Agency. READING Page 3 Read the next two selections and answer the questions that follow. 2009 Young Innovators Under 35: Jaime Teevan, 32 by Kurt Kleiner Technology Review Sept/Oct 2009 Microsoft...»

«Student Art & Writing • Aquinas College Sampler XXIII Spring 2011 Acknowledgments Front cover (oil on canvas): Watching Him Shave at the Sink............ Margaret J. Schmitz Back cover (photography): The Trees Warm Roots......................... Owen Fifield Art selection/Photographs of selections..................... Dana Freeman Manuscript selection: Faculty: Dr. Daniel Brooks, Dr. Brent Chesley, Dr. Rebecca Coogan, Dr. Michelle...»

«Voir Venir: The Future of Melodrama? Monique Rooney What do I feel at the touch of this curtain? Holy fear trembles through my limbs. I believe I am touching the holiness of some divinity! Fool! It is stone; your own work. And what are the gods worshipped in our temple? Are they anything but matter? J. J. Rousseau, Pygmalion, a Poem from the French 17791 T GREEK DERIVATIONS: MELOS (MUSIC) HE WORD MELODRAMA IS A COMPOUND OF TWO and drama (deed, action, play). Melodrama is a mode, rather than a...»

«SUSI Online Application System Making an Application (New Applicants) 2016/17 academic year Application Form Guide 2016/17: New Applicants Online Student Grant Application System Applications for Student Grant funding are made through the Online Student Grant Application System. You can access the Online Student Grant Application system by visiting www.susi.ie and clicking “Apply Now”. Alternatively, you can reach the system through the URL www.grantsonline. Step 1: Creating an online...»

«Yuba Community College District Financial Aid Offices Yuba College Woodland Community College Clear Lake Campus 2088 North Beale Road 2300 East Gibson Road 15880 Dam Road Extension Marysville, CA 95901 Woodland, CA 95776 Clearlake, CA 95422 530-741-6781 530-661-5725 707-995-7923 2015-2016 BOARD OF GOVERNORS FEE WAIVER ELIGIBILITY CRITERIA California residents may be eligible to have enrollment and student service fees waived if they qualify for the Board of Governors (BOG) Fee Waiver. It may...»

«Enhancing Interactions with Mobile Devices in Language Classrooms Sean McMinn, Yanlin Li The Hong Kong University of Science and Technology (Hong Kong, China) lcmcminn@ust.hk, lcyanlin@ust.hk Abstract With the rise of mobile devices, smart phones and tablets are playing an indispensable role in our daily lives. Tablets, in particular, have been found to have great potential in the field of education. To explore the usefulness of tablets in language education, the Center for Language Education...»

«SRI AUROBINDO ON MOTHER THE E-text based on Sri Aurobindo Birth Century Librarry in 30 Volumes Vol. 25 www.aurobindo.ru Note to electronic publication Bibliographical Note Part One. The Mother Part Two. Letters on the Mother I. The Mother and the Purpose of Her Embodiment Who is the Mother? The Mother's Manifestation and the Supramental Descent Purpose of the Mother's Embodiment Different Appearances of the Mother Revelation of the Mother's Coming Seeing the Divine in the Mother Recognition of...»

«INICIACIÓN KITESURF ASSOCIACIÓ CATALANA DE KIRESURF WWW. ESCOLAGARBI. COM WWW. ACK. ES CURSO BÁSICO DE KITESURF A. INTRODUCCIÓN. Kitesurf, meteorología y seguridad 1 TIPOS DE TABLAS Y COMETAS 1.A Descripción detallada. 1.B Partes de una cometa. 2 CONTROL DE LA COMETA 2.A Montaje 2.B Ventana de viento 2.C Regulación de la propulsión 2.D Despegue y aterrizaje asistido 3 SISTEMAS DE SEGURIDAD 3.A Sueltas rápidas (Quick Release) 3.B Leashes 3.C Comunicación B. PRÁCTICAS DE TRACCIÓN...»





 
<<  HOME   |    CONTACTS
2016 www.theses.xlibx.info - Theses, dissertations, documentation

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.