Exploring the performance of small- and medium-sized enterprises through the credit crunch

Small- and medium-sized enterprises (SMEs) are major contributors to most western economies. They are often supported by government policies, and in the UK the government encourages banks to lend to them. It is generally believed that the credit crunch has had an impact on the performance of SMEs. This study looks at the impact of the crunch using large samples from 2007 through to 2010. It looks at performance by region, age and industrial sector (SIC code). It then proceeds to explore the modelling of default over the years, with a focus on young businesses. It was found that there is a degree of stability within the models, though the level of default varies across years. Young businesses, as has been found before, are shown to be more vulnerable.     

Allocating operating funding in the public sector and the newsvendor problem

Public sector managers, particularly those at the highest level of government, tend to view lapsed (or unused) funds at the end of a fiscal year as a consequence of poor management and/or inadequate financial controls. The aim of this paper is to challenge this view. We show that the planning environment in the public sector is in essence the classical Newsvendor Problem. This simple model argues that lapsed funds are a direct consequence of a manager doing his job properly; that is, lapsed funds occur from time to time when a manager is maximizing value for the organization. An extension of the model shows that allowing low-value year-end spending has an undesirable effect on the value of spending during the year and this suggests a role for a strong audit function for year-end spending.     

A self-tuning heuristic for the design of communication networks

This paper addresses the design of communication networks that has a large application area. The problem is to design a minimum cost network subject to a given reliability level. Complexity of the problem is twofold: (1) finding a minimum-cost network topology that every pair of nodes can communicate with each other and (2) computing overall reliability to provide the reliability constraint. Over the last two decades, metaheuristic algorithms have been widely applied to solve this problem due to its NP-hardness. In this study, a self-tuning heuristic (STH), which is a new approach free from parameter tuning, is applied to the design of communication networks. Extensive computational results confirm that STH generates superior solutions to the problem in comparison to some well-known local search metaheuristics, and also more sophisticated metaheuristics proposed in the literature. The practical advantage of STH lies in both its effectiveness and simplicity in application to the design problem.     

An extended slacks-based measure model for data envelopment analysis with negative data

Data envelopment analysis (DEA) is a non-parametric approach based on linear programming that has been widely applied for evaluating the relative efficiency of a set of homogeneous decision-making units (DMUs) with multiple inputs and outputs. The original DEA models use positive input and output variables that are measured on a ratio scale, but these models do not apply to the variables in which negative data can appear. However, with the widespread use of interval scale data and undesirable data, the emphasis has been directed towards the simultaneous consideration of the positive and negative data in DEA models. In this paper, using the slacks-based measure, we propose an extended model to evaluate the efficiency of DMUs, even if some variables are measured on an interval scale and some on a ratio scale. Moreover, the extended model allows for the presence of all interval-scale variables, which are capable of taking both negative and positive values.     

An axiomatic characterization of the potential decisiveness index

Let us consider that somebody is extremely interested in increasing the probability of a proposal to be approved by a certain committee and that to achieve this goal he/she is prepared to pay off one member of the committee. In a situation like this one, and assuming that vote-buying is allowed and free of stigma, which voter should be offered a bribe? The potential decisiveness index for simple games, which measures the effect that ensuring one positive vote produces for the probability of passing the issue at hand, is a good tool with which to acquire the answer. An axiomatic characterization of this index is given in this paper, and its relation to other classical power indices is shown.     

No-wait scheduling of position dependent jobs and adjustable processing intervals

In this paper, we consider a single machine no-wait scheduling model whereby job processing times are general functions of their position in the job sequence. We assume that the single machine must operate at a certain cycle, which can be determined by the scheduler. Furthermore, exactly one job has to be completed by the end of each cycle. Using different variations of the Linear Assignment Problem formulation, we develop polynomial time algorithms for minimizing the following objectives: makespan, total completion time, maximum earliness and total earliness.     

Time-dependent discrete road network design with both tactical and strategic decisions

This paper aims to model and investigate the discrete urban road network design problem, using a multi-objective time-dependent decision-making approach. Given a base network made up with two-way links, candidate link expansion projects, and candidate link construction projects, the problem determines the optimal combination of one-way and two-way links, the optimal selection of capacity expansion projects, and the optimal lane allocations on two-way links over a dual time scale. The problem considers both the total travel time and the total CO emissions as the two objective function measures. The problem is modelled using a time-dependent approach that considers a planning horizon of multiple years and both morning and evening peaks. Under this approach, the model allows determining the sequence of link construction, the expansion projects over a predetermined planning horizon, the configuration of street orientations, and the lane allocations for morning and evening peaks in each year of the planning horizon. This model is formulated as a mixed-integer programming problem with mathematical equilibrium constraints. In this regard, two multi-objective metaheuristics, including a modified non-dominated sorting genetic algorithm (NSGA-II) and a multi-objective B-cell algorithm, are proposed to solve the above-mentioned problem. Computational results for various test networks are also presented in this paper.     

Conceptual modelling and the project process in real simulation projects: a survey of simulation modellers

A survey was used to obtain information on the processes and methods used by simulation experts in real projects. The 102 survey respondents answered questions about their most recent simulation project. This paper presents some of the survey results, focussing mainly on conceptual modelling and the pattern of time allocation to different topics. There are a wide range of findings that include the modellers making changes to the initial conceptual model during subsequent tasks in most of the projects usually by adding complexity, model coding taking on average about twice the time of other topics, and the topics generally occurring in single blocks of time (at the resolution of the survey data collection) but with considerable overlaps. The results give an insight into the way experts approach simulation projects and their problem solving strategies. A potential application is in training novice modellers, particularly in developing ‘craft skills’. The results also provide an empirical basis for further research, especially in conceptual modelling.     

Existence of solutions for semilinear elliptic boundary value problems on arbitrary open sets

We show the existence of a weak solution of a semilinear elliptic Dirichlet problem on an arbitrary open set Ω. We make no assumptions about the open set Ω and very mild regularity assumptions on the semilinearity f, plus a coerciveness assumption which depends on the optimal Poincaré–Steklov constant λ₁. The proof is based on Schaefer’s fixed point theorem applied to a sequence of truncated problems. We state a simple uniqueness result. We also generalize the results to Robin boundary conditions [17].     

Partial Data for the Neumann-to-Dirichlet Map

We show that measurements of a Neumann-to-Dirichlet map, with either inputs or outputs restricted to part of the boundary, can determine an electric potential on that domain. Given a convexity condition on the domain, either the set on which measurements are taken, or the set on which input functions are supported, can be made to be arbitrarily small. The result is analogous to the result by Kenig, Sjöstrand, and Uhlmann for the Dirichlet-to-Neumann map. The main new ingredient in the proof is an improved Carleman estimate for the Schrödinger operator with appropriate boundary conditions. This is proved by Fourier analysis of a conjugated operator along the boundary of the domain.