Hasil untuk "Management of special enterprises"

Travon Lucius, Christian Koch, Jacob Starling et al.

We present a reinforcement-learning (RL) framework for dynamic hedging of equity index option exposures under realistic transaction costs and position limits. We hedge a normalized option-implied equity exposure (one unit of underlying delta, offset via SPY) by trading the underlying index ETF, using the option surface and macro variables only as state information and not as a direct pricing engine. Building on the "deep hedging" paradigm of Buehler et al. (2019), we design a leak-free environment, a cost-aware reward function, and a lightweight stochastic actor-critic agent trained on daily end-of-day panel data constructed from SPX/SPY implied volatility term structure, skew, realized volatility, and macro rate context. On a fixed train/validation/test split, the learned policy improves risk-adjusted performance versus no-hedge, momentum, and volatility-targeting baselines (higher point-estimate Sharpe); only the GAE policy's test-sample Sharpe is statistically distinguishable from zero, although confidence intervals overlap with a long-SPY benchmark so we stop short of claiming formal dominance. Turnover remains controlled and the policy is robust to doubled transaction costs. The modular codebase, comprising a data pipeline, simulator, and training scripts, is engineered for extensibility to multi-asset overlays, alternative objectives (e.g., drawdown or CVaR), and intraday data. From a portfolio management perspective, the learned overlay is designed to sit on top of an existing SPX or SPY allocation, improving the portfolio's mean-variance trade-off with controlled turnover and drawdowns. We discuss practical implications for portfolio overlays and outline avenues for future work.

Akshara Prabhakar, Roshan Ram, Zixiang Chen et al.

As information grows exponentially, enterprises face increasing pressure to transform unstructured data into coherent, actionable insights. While autonomous agents show promise, they often struggle with domain-specific nuances, intent alignment, and enterprise integration. We present Enterprise Deep Research (EDR), a multi-agent system that integrates (1) a Master Planning Agent for adaptive query decomposition, (2) four specialized search agents (General, Academic, GitHub, LinkedIn), (3) an extensible MCP-based tool ecosystem supporting NL2SQL, file analysis, and enterprise workflows, (4) a Visualization Agent for data-driven insights, and (5) a reflection mechanism that detects knowledge gaps and updates research direction with optional human-in-the-loop steering guidance. These components enable automated report generation, real-time streaming, and seamless enterprise deployment, as validated on internal datasets. On open-ended benchmarks including DeepResearch Bench and DeepConsult, EDR outperforms state-of-the-art agentic systems without any human steering. We release the EDR framework and benchmark trajectories to advance research on multi-agent reasoning applications. Code at https://github.com/SalesforceAIResearch/enterprise-deep-research and Dataset at https://huggingface.co/datasets/Salesforce/EDR-200

Jesus Silva-Rodriguez, Xingpeng Li

The alternating direction method of multipliers (ADMM) is a powerful algorithm for solving decentralized optimization problems including networked microgrid energy management (NetMEM). However, its performance is highly sensitive to the selection of its penalty parameter \r{ho}, which can lead to slow convergence, suboptimal solutions, or even algorithm divergence. This paper evaluates and compares three district ADMM formulations to solve the NetMEM problem, which explore different methods to determine appropriate stopping points, aiming to yield high-quality solutions. Furthermore, an adaptive penalty heuristic is also incorporated into each method to analyze its potential impact on ADMM performance. Different case studies on networks of varying sizes demonstrate that an objective-based ADMM approach, denominated as OB-ADMM, is significantly more robust to the choice of \r{ho}, consistently yielding solutions closer to the centralized optimal benchmark by preventing premature algorithm stopping.

Zoltan Bartha, Adam Bereczk

Our study presents a model of factors influencing the financial viability of Hungarian social enterprises, and tests the model on a sample of 220 Hungarian firms involved in social entrepreneurship. In the model we suggest that the most important factors for financial viability are the Regulatory environment (the transparency of regulations); the Entrepreneurial attributes of the entrepreneur (business orientation, business skills and experience, business planning tendencies); the Financial support provided by the environment (the ratio of grants, donations and subsidies within the total revenues of the firm); and the Strategy followed by the firms (the presence of such generic strategies as cost leadership or differentiation). We find that only two of the model's four factors are significantly associated with Financial viability: Entrepreneurial attributes and Financial support. The results suggest that the best way of strengthening the viability of social enterprises is through entrepreneurship training (to enhance the business skills and experience of the entrepreneurs, and to propagate business planning), and to provide grants and subsidies to these firms. As no significant association was found between Financial viability and Strategy, we can conclude that the role of market competition is probably relatively week among Hungarian social enterprises.

Liliya Filipishyna, Serhii Patuk, Oleg Klenin

The subject of the research is the conceptual, theoretical, and applied foundations of strategic management of innovative development in industrial enterprises. The article considers innovation as a key factor in shaping competitive advantages, as well as a source of new opportunities and risks that require strategic management. It is proven that the innovative development of industrial enterprises under current conditions of global turbulence, digitalization, and the post-war recovery of Ukraine’s economy is not only a factor of efficiency but also an important element in ensuring the state’s economic resilience. Methodology. The study applies a set of general scientific methods: analysis and synthesis to reveal the essence of innovation processes; induction and deduction to identify patterns in strategic management; and the monographic method to systematize scientific approaches. To assess the specifics of Ukrainian enterprises in the context of economic challenges, the case study method was used, which made it possible to highlight the peculiarities of implementing innovative strategies in the industrial sector. Purpose of the article is to substantiate theoretical and practical approaches to the formation of a mechanism for strategic management of innovative development in industrial enterprises. Results. The study shows that the mechanism of strategic management of innovative development includes interrelated blocks: analysis of internal and external environments, planning of innovation strategy, organization of processes, personnel motivation, regulation, and control. The proposed theoretical model confirms that the effectiveness of management depends on the comprehensive interaction of these elements. It is established that external innovation ecosystems — cooperation with research institutions, government bodies, suppliers, and international partners — play a key role in shaping competitive advantages. At the same time, the internal resources of an enterprise — human capital, organizational culture, financial stability, and digital technologies — determine the speed and effectiveness of innovation implementation. Special emphasis is placed on Ukrainian realities: high energy intensity of production, limited access to finance, technological gaps with leading countries, and the need for post-war industrial recovery. Under these conditions, strategic innovation management acquires dual significance — as a factor of enterprise competitiveness and as an instrument of national economic recovery. The article proves that the mechanism of strategic management of innovative development in an industrial enterprise is a complex system combining organizational, economic, technological, and social elements. Its effectiveness depends on the consistency of internal and external factors, as well as on the ability of enterprise management to adapt to global challenges. The proposed recommendations regarding the formation of an internal innovation culture, diversification of financing sources, development of partnership networks, and improvement of state policy can serve as a foundation for building a sustainable innovation-based development model.

Ika Aghnia Santoso, Wyati Saddewisasi, Yuli Budiarti

Pengelolaan human capital sangat vital dalam organisasi, untuk peningkatan kinerja individu . Tujuan riset adalah menganalisis pengaruh Locus of Control Internal (LCI) dan Locus of Control External (LCE) pada kinerja karyawan, dengan etika kerja Islam sebagai variabel moderasi. Penelitian ini menggunakan pendekatan kuantitatif, dengan data primer dari aran angket. Pengambilan sampel menggunakan teknik purposif sampling, pada 69 karyawan responden. Analisis data dilakukan menggunakan metode Structural Equation Modeling (SEM). Hasil: (1) LCI berpengaruh signifikan pada kinerja karyawan, (2) LCE berpengaruh pada kinerja karyawan, (3) etika kerja Islam berperan sebagai variabel moderasi dalam hubungan antara LCI dan kinerja karyawan, namun tidak memoderasi hubungan antara LCE dan kinerja karyawan. Kesimpulan: pengelolaan etika kerja Islam yang tepat menjadi faktor penting dalam meningkatkan kinerja karyawan. Terutama dikaitkan bagaimana individu memandang kendali eksternal (LCE) dalam lingkungan kerja sebagai bagian dari upaya. peningkatan produktivitas

Dede Nurlaela Sakinah, Widiyatmiko Arifin Putro, Merliana Debyanti

Background: Fractures are projected to become the fourth leading cause of death by 2030. A fracture is a discontinuity in the bone that is often accompanied by damage to the surrounding tissues. The healing process of fractures is influenced by various factors, the greater the damage to the bone and surrounding tissues, the longer the healing time. In cases of tibia and fibula fractures, the most commonly used surgical procedure in Indonesia is Open Reduction and Internal Fixation (ORIF) using Plates and Screw. Aims: To compare of healing time in closed fractures of the tibial diaphysis and tibial-fibula after ORIF Plate and Screw at Waled regional public hospital. Methods: This research uses a cross sectional design. A total of 77 samples were obtained using total sampling. Statistical tests use Mann Whitney. Results: There were 37 patients with closed fractures of the tibia diaphysis and 40 patients with closed fractures of the tibia-fibula diaphysis. The healing time for closed tibial diaphyseal fractures was ≤ 24 weeks in 12 patients (32.4%), while > 24 weeks was 25 patients (67.6%). In patients with closed fractures of the tibia-fibula diaphysis within ≤ 24 weeks and > 24 weeks, the number was the same, namely 20 patients (50.0%). In the Mann-Whitney test, a significance value of 0.032 (p<0.05) was obtained, indicating a significant difference in the healing time between closed fractures of the tibial diaphysis and tibia-fibula after ORIF Plate and Screw at Waled Regional Hospital, with an average healing of 44.69 weeks for closed fractures of the tibial diaphysis, whereas for fractures closed tibia-fibula diaphysis 33.74 weeks.   Conclusion: The average healing time for closed tibial diaphyseal fractures is longer than for tibia-fibula.

Esteban Lafuente, Rodrigo Rabetino, Juan Carlos Leiva

Despite the valuable contributions of earlier learning studies, the specific analysis of how entrepreneurs and small- and medium-sized enterprises (SMEs) learn has been sidelined in the literature. Significant research opportunities remain open in various unexplored realms. By adopting a multidisciplinary perspective that combines a variety of frameworks (i.e., organizational, economic, and innovation management), the collection of 11 studies of this special issue dedicated to learning delivers valuable insights into how entrepreneurs and SMEs capitalize on learning processes, while identifying how these processes are affected by the type of experience (i.e., success and failure). This paper first overviews the contributions of the 11 papers included in the special issue. Next, we discuss a number of yet unresolved topics that deserve academic attention, paying special attention to entrepreneurs’ direct and indirect experiences, knowledge obsolescence caused by technology upgrading, and the role of digital technologies—i.e., Internet-of-things and artificial intelligence—in the learning processes. From the literature on learning, which has mostly evaluated organizational learning, an evident gap emerges, that of the analysis of how entrepreneurs and SMEs learn from different types of experiences. The 11 studies included in this special issue bring together research that addresses various aspects related to learning from the entrepreneur and SME levels. This special issue advances our knowledge by providing clear nuances of how both entrepreneurs and SMEs can learn and generate different benefits from both successful and failure experiences. After examining the papers in this special issue, promising future research should focus on the analysis of entrepreneurs’ direct and indirect experience, knowledge obsolescence caused by technology upgrading, and the role of Internet-of-things (IoT) and artificial intelligence (AI) in enabling learning processes.

Lorraine Eden

Andrea Caputo, S. Pizzi, É. Santini

Abstract In this special issue titled ‘Sustainability and SMEs: Opening the black box’, we compile eight articles that dissect the multifaceted relationship between small- and medium-sized enterprises (SMEs) and sustainability. This special issue promoted interdisciplinary research at the intersection of the design, management, organisation, and reporting of sustainable actions in the context of SMEs. Stemming from the need to apply different theoretical and analytical lenses to the study of sustainability in SMEs than in large corporations, each paper provides unique insights into the formal and informal approaches, drivers, barriers, and enablers of sustainable practices in SMEs. The collection not only furthers the dialogue on the role of SMEs in sustainable development but also paves the way for future research directions and practical applications in this dynamic and still underexplored field.

Ali Chouman, Dimitrios Michael Manias, Abdallah Shami

Experimentation in practical, end-to-end (E2E) next-generation networks deployments is becoming increasingly prevalent and significant in the realm of modern networking and wireless communications research. The prevalence of fifth-generation technology (5G) testbeds and the emergence of developing networks systems, for the purposes of research and testing, focus on the capabilities and features of analytics, intelligence, and automated management using novel testbed designs and architectures, ranging from simple simulations and setups to complex networking systems; however, with the ever-demanding application requirements for modern and future networks, 5G-and-beyond (denoted as 5G+) testbed experimentation can be useful in assessing the creation of large-scale network infrastructures that are capable of supporting E2E virtualized mobile network services. To this end, this paper presents a functional, modular E2E 5G+ system, complete with the integration of a Radio Access Network (RAN) and handling the connection of User Equipment (UE) in real-world scenarios. As well, this paper assesses and evaluates the effectiveness of emulating full network functionalities and capabilities, including a complete description of user-plane data, from UE registrations to communications sequences, and leads to the presentation of a future outlook in powering new experimentation for 6G and next-generation networks.

Saumya Kothari, Harsh Shah, Utkarsh Prajapati et al.

Mid-cap companies, generally valued between \$2 billion and \$10 billion, provide investors with a well-rounded opportunity between the fluctuation of small-cap stocks and the stability of large-cap stocks. This research builds upon the long-short equity approach (e.g., Michaud, 2018; Dimitriu, Alexander, 2002) customized for mid-cap equities, providing steady risk-adjusted returns yielding a significant Sharpe ratio of 2.132 in test data. Using data from 2013 to 2023, obtained from WRDS and following point-in-time (PIT) compliance, the approach guarantees clarity and reproducibility. Elements of essential financial indicators, such as profitability, valuation, and liquidity, were designed to improve portfolio optimization. Testing historical data across various markets conditions illustrates the stability and resilience of the tactic. This study highlights mid-cap stocks as an attractive investment route, overlooked by most analysts, which combine transparency with superior performance in managing portfolios.

Kukartsev Vladislav, Olentsova Julia, Kravtsov Kirill et al.

This article discusses modern approaches to optimizing logistics in the agronomic sector using digital technologies. In the context of growing demand for high-quality agricultural products and increasing global competition, agricultural enterprises are faced with the need to introduce innovative solutions for managing transportation and storage of products. Special attention is paid to the design of a system aimed at reducing losses and increasing the efficiency of logistics processes. The use of information technologies such as transportation management systems (TMS), the Internet of Things (IoT) and machine learning can improve the accuracy and speed of operations, minimize costs and improve product quality. The article discusses in detail modelling methods using UML diagrams, which allows you to create a clear and complete picture of the structure and behaviour of the system. These results demonstrate a significant improvement in logistics processes, which contributes to increasing the sustainability and competitiveness of agricultural enterprises in the global market.

Lady Lady, Dyfan Dyfan

Penelitian ini dilakukan untuk menganalisis pengaruh niat membeli terhadap brand lokal fashion. Penelitian yang dilakukan memberikan gambaran terhadap bentuk perkembangan dari niat pembelian brand lokal fashion yang ada di Indonesia. Data dikumpulkan dengan cara purposive sampling dan penyebaran kuesioner kepada masyarakat Indonesia dengan berhasil mengumpulkan 374 responden. Analisis ini menggunakan SPSS dan Smart PLS untuk menguji data. Hasil penelitian dari analisis ini adalah  kualitas layanan, citra merek, kepercayaan, hubungan pelanggan dengan niat membeli sebagai variabel dependen berpengaruh signifikan positif sedangkan kepuasan pelanggan dan persepsi tidak memiliki pengaruh. Selanjutnya kepuasan pelanggan, kualitas layanan, citra merek, serta kepercayaan terhadap persepsi berpengaruh signifikan positif sedangkan hubungan pelanggan terhadap persepsi tidak berpengaruh dan persepsi tidak mampu memediasi variabel independen terhadap variabel dependen. Penelitian yang dilakukan merupakan satu di antara sedikitnya penelitian yang menggunakan persepsi sebagai variabel mediasi.

Shenaaz Gani

Background: There is a wide gap in healthcare access between the poor and the rich in South Africa. The government has implemented several policies to address this gap; nonetheless the complaints about poor healthcare delivery exist. Aims: The objective of this study is to examine the relative importance of healthcare service indicators in Tshwane Municipality, South Africa. Methods: This research uses a utility approach to analyse the relative importance of healthcare service indicators in the context of the Tshwane Municipality in South Africa. The study applies conjoint analysis to better understand healthcare users' preferences for several factors such as service range, waiting time for medications and consultations, waiting time for elective operations, and location. Questionnaire was administered on 280 respondents, comprising the following: Black – 130, Whites – 70, Indians – 40, and Coloured – 40. The data was collected from both public and private healthcare users, and the results were compared using an independent t-test. Results: The study found that there were no statistically significant variations in the mean utilities of public and private healthcare users. The finding suggests that healthcare users' preferences, whether they utilize public or private services, are largely comparable and can be addressed by utilizing unified techniques. The result also demonstrates the most favoured levels for each metric, providing insights into patient preferences and their social impacts. The study further highlights various healthcare preferences of users. Conclusion: This finding emphasises that healthcare users have unique expectations, requiring personalised healthcare delivery. The findings have several recommendations for policymakers and healthcare practitioners to improve service delivery and patient satisfaction.   Received: 01 May 2024 | Reviewed: 03 June 2024 | Revised: 12 July 2024 | Accepted: 21 July 2024.

Candy Candy, Michelle Selvia Liu, Isnaini Nuzula Agustin

Penelitian ini bertujuan untuk menganalisis faktor internal terhadap kinerja Bank Perkreditan Rakyat (BPR) di provinsi Jambi. Faktor internal yang diteliti terdiri dari risiko kredit, risiko likuiditas, BOPO, utang, modal intelektual, dan modal bank. Jenis data penelitian yang digunakan merupakan data kuantitatif berupa data sekunder yaitu laporan keuangan publikasi dari periode 2018 hingga 2022 di situs web Otoritas Jasa Keuangan (OJK). Berdasarkan data dari OJK, terdapat 19 BPR pada Provinsi Jambi dengan jumlah data sebanyak 95 yang dijadikan sampel.  Analisis dilakukan menggunakan regresi panel melalui perangkat lunak Eviews. Hasil pengujian menunjukkan bahwa BOPO dan modal bank berpengaruh negatif terhadap kinerja bank. Di sisi lain, utang berpengaruh positif terhadap kinerja bank melalui pengukuran ROA, tetapi berpengaruh negatif melalui pengukuran ROE. Sementara itu, risiko kredit, risiko likuiditas, dan modal intelektual tidak memiliki pengaruh signifikan terhadap kinerja bank.

Oleksandr Bazyk, Tetiana Grynko

Purpose. This study is devoted to the actual problem of using digital doubles as a tool for an effective mechanism of real-time enterprise management in the context of modern global challenges. The paper considers the concept of a digital double of an enterprise (EDT) as a means of increasing adaptability of organizations in the context of the digital economy. Design / Method / Approach. The study analyzes the key factors determining the topicality of the topic, including the unprecedented level of instability of the business environment, the limitations of traditional management methods, and the potential of digital technologies to transform business processes. Special attention is paid to the ability of EDT to integrate strategic planning with operational activities. Findings. The paper examines the theoretical and practical aspects of the implementation of digital doubles, including their role in increasing the efficiency of resource use, risk management, and the development of new business models. Theoretical Implications. The value of the research lies in the development of a new concept of creating digital duplicates of enterprises based on a holistic approach based on the unification of the accounting of all enterprise assets and their presentation in the form of a multi-layered multigraph. Practical Implications. The practical value is expressed in the possibility of increasing the efficiency of enterprise management through the creation of digital doubles capable of autonomously performing certain tasks and interacting with each other, which optimizes the use of resources, improves decision-making processes and opens new opportunities for inter-corporate interaction. Originality / Value. The results of the study have both theoretical and practical significance, opening new perspectives for scientific innovation, technological progress and economic growth in the context of digital business transformation. Research Limitations / Future Research. An important aspect of future research is also the solution of organizational challenges associated with the implementation of such a system at enterprises. Article type. Case Study, Practitioner Paper. PURL: https://purl.org/cims/2403.024

Pari Farajizadeh, Abolfazl Farahani, Alimohammad Safania et al.

Purpose: The development of the capital market of sports goods is important because it can bring many benefits for developing countries to attract foreign capital to the host country and as a result increase investment, create job opportunities and transfer technology to the host country and play an important role in strengthen their economies and societies. The purpose of this research was to construct and validate the questionnaire for the development of the sports capital goods market. Method: For this purpose, 150 users of sports capital goods were selected as a purposive sampling and completed the questionnaire made by the researcher for the development of the sports capital goods market. This research is exploratory and is a type of correlational study. The form and content validity of the research tool was confirmed by a group of expert professors and its structural validity was confirmed by factor analysis based on the structural equation model. Results: Based on exploratory factor analysis with orthogonal rotation, 36 items were placed in eight factors, which accounted for 61.62% of the variance of sustainable social development. The results of confirmatory factor analysis and Cronbach's alpha coefficients supported the eight-factor structure of 36 questions and confirmed its validity and reliability. Conclusion: The results of this research can be helpful for teachers, managers, officials and experts in this field in the development of the sports capital goods market by specifying the role of each of the mentioned items for more attention.

M. Zioło, I. Bąk, Anna Spoz

The article aims to systematize the state of knowledge of and research on the inclusion of ESG (Environmental, Social, and Governance) risk in companies’ business models, with a special stress on energy sector companies. Many publications address incorporating ESG, but only some deal with it from the perspective of business models. This paper fills that gap. The methods of incorporating ESG risk into a sustainable business model, identified on the basis of the literature review, were verified based on the examples of three companies from the energy industry. A two-stage review of publications from the WoS and Scopus databases was carried out, considering a more comprehensive (sustainability) and a narrower (ESG risk) range of keywords, and the period from 2000 to 2022. The result showed that SMEs and large enterprises consider ESG risk in their risk management systems (ERMs), while small enterprises and start-ups do not. In Europe, Asia, and Australia, it is common to include ESG risk in an ERM, while it is rare in Latin America. In developing countries, companies in the service sector are more likely to include ESG risk in ERMs than those in the manufacturing sector. These findings may be useful for policymakers who wish to provide support and financial incentives for companies transforming their business models toward sustainability.

Amirmohammad Nateghi, Maedeh Mosharraf

Although it has a history that goes back about three decades, Metaverse has grown to be one of the most talked-about subjects today. Metaverse gradually increased its influence in the realm of business discourse after initially being restricted to discussions about entertainment. Before getting deep into the Metaverse, it should be noted that failure and deviating from the business path are highly likely for an enterprise that relies heavily on information technology (IT) because of improper use and thinking about IT. The idea of enterprise architecture (EA) emerged as a management strategy to address this issue. As the first school of thought of EA, it sought to transform IT from an unnecessary burden in an enterprise to a guiding and supporting force. Then an extended EA model is suggested as a result of the attempt made in this paper to use the idea of EA to steer virtual enterprises on Metaverse-based platforms. Finally, to evaluate the conceptual model and demonstrate that the Metaverse can support businesses, three case studies Decentraland, Battle Infinity, and Rooom were utilized.