Формирование ценности в системе управления производственными активами электроэнергетической компании
The article explores the possibility of implementing systems approach in order to describe the process of value creation through asset management in electric utility companies. The author outlines the key challenges existing in the power industry nowadays. Then, the main problems regarding asset management in the dynamic environment are emphasized. The author describes the current state of research in the field and highlights the significance of value based asset management. The possibility of implementing the basic principles of systems approach in relation to asset management in electric utility companies is analyzed. As a result the author proposes a model that describes the process of value creation throughout the asset management system from the systems approach perspective.
According to the framework of knowledge economy, production and management of knowledge are key aspects of firm’s activity nowadays. Intellectual capital (IC) is the crucial factor for company survival in the market. Therefore it is vital to realize the way that this capital helps to create firm value. The purpose of this study is to test empirically one aspect of the relationship between intellectual capital components and business performance – the influence of intellectual capital structure on process of firm’s value added creation.
In order to analyze the process of intellectual capital transformation into the company value, the balanced panel data were collected. The sample consists of 64 British firms in 6 industries: retail and wholesale trade, machinery manufacture, chemicals manufacture, transport and telecommunications, oil extraction and producing. The panel includes five years: from 2005 to 2009. In order to obtain comprehensive data of chosen companies we used Amadeus Database (Bureau Van Dijk) as like as information from companies’ websites.
As far as there is no singular method of measuring value added by intellectual capital, we used five the most common methods: EVATM, MVATM, FGVTM, VAICTM, P/B ratio. We also used 14 variables as proxies for intellectual capital components.
The models are estimated with pooled cross-sectional OLS method.
Most strongly influence of the intellectual assets structure is reflected in VAIC and FGV. At the same time, EVA and P/B ratio have weak or not significant relationship with the structure of the intellectual assets portfolio.
It should also be noted that models with human capital proxy in the denominator show a significant positive dependency between a ratio of the intellectual capital components and value added.
Moreover consideration of the industry factor changes the results only slightly.
The present study advances our understanding of how to manage knowledge-related resources and contributes to effective investment management. The results confirm that structure of intellectual assets has quite stable linear effect on the value added created by the company. The effect is observed both in the short and long term period. Consequently, management should consider not only an accumulated volume of intellectual capital, but also the ratio between these components in order to increase company value.
We gladly invite both Academic and Industrial community to submit top quality Research papers and Industrial case presentations related to engineering, operations, and management of Engineering assets and Public infrastructures.
This call for Research papers and Industry presentations aims at drawing diverse industry wide and top Research expertise that can stimulate fresh discussions and views, create innovative ideas, and explore smart solutions. The WCEAM-2018 Congress will cover a range of Technical themes that has a direct connection to your passion, professional interest, and expertise. Those areas are of interest to Asset owners, Operators, Producers, Technology developers, Service providers, Public institutions, and the Academic & Research community.
We also cover a wide range of Industrial and Public sectors, inclusive of; Oil & Gas, Refining industry, Nuclear, Hydropower, Renewable Energy, Ocean & Maritime sector, Mining, Public Infrastructures and Land transportation, Green Manufacturing, Process industry, Engineering structures and Buildings, Construction sector, Healthcare Systems, Aeronautics and Aerospace, Information and Telecommunication sector. We actively encourage those who have top expertise on specific Technical themes to deliver a workshop, seminar, training activity, or a round table session at the Congress. If you are keen, we will be excited to hear from you. All Abstracts, Papers, and Presentations will be reviewed by the International Scientific Committee of the Congress for inclusion in the Congress Proceedings. Selected research and thought-leading industry papers will be peer reviewed, and if accepted will be published in the Springer ebook after the event titled, “Engineering assets and Public infrastructures in the Age of Digitalization” and subtitled, “Proceedings of the 13th World Congress on Engineering Asset Management”. The Springer ebook series is indexed by Scopus and is also currently being assessed for inclusion in EI Compendex. Past proceedings are available on the Springerlink web site.
Industry cases and Projects
We strongly encourage Industry presentations from the Public and Private sector based on real Industrial Projects and Business cases.
Congress Topics and streams
Asset management in industry 4.0: Smart Factory, Cyber-physical Systems, Virtual Factory, Virtual and Augmented Reality, Cloud-based solutions, Machine learning
Modern digital applications: Advanced ICTs, Big Data Analytics, Intelligent decision support, Algorithms for Performacne optimization, Industrial informatics, Signal processing, Robotics and Automation, Mechatronics, Smart sensors and Instruments
Dynamic modeling, simulation and visualization: Modelling of Business & Operational Processes, Multiagent tenhnologies, 3D technologies, Visualization techniques
Smarter and safer assets: Digital risk, Safety, Security, Reliability, Resilience Engineering, Barrier design and management, Human-Technology interface, Risk analysis and management, Data integration and Interoperability
Asset economics and decision analysis: Financial risks, Asset investments, Life cycle costing, Beyond budgeting, Decision analysis
Critical asset processes: Spare-parts and Warehousing, Innovative logistics, Supply chain optimization, Production planning, Quality control, Maitenance, Operations, Remote support, Collaborative work processess
Asset health: Tools and technologies for equipment and structural health assessment, Diagnostics and Prognostics, Technical and operational integrity, Pattern recognition, e-Maintenance, Inspection techniques, Fault and Failure analysis
Co-value creation: Service innovation, Service integration, Project engineering and management, Contract strategies and Contract management, B2B partnerships, Change management, Customer relationships
Sustainable assets and processes: Energy efficiency, Regulations and Standards, Legal aspects, Environmental technologies, Eco-efficiency, Carbon foot-print, Managing stakeholders
Human capital and organizational development: Competence management, Education and Training, Managing work place diversity, Modern leadership
Performance measurement and management: KPI design and implementation, Performance optimization methods and techniques, Benchmarking, Learning and Continuous improvement
The article considers basic elements of educational process innovative management: identification of groups of characters interested in the results of university activity, structurization of educational process parameters and definition of a set of elements of educational process innovative management based on principles of the system approach.
“Intellectual capital” is a new term for key resources of a firm that enable it to compete on challenging market. Such assets as IT-systems, brand, employees’ knowledge and competencies are crucial for any company. However, large stocks of these resources do not lead to success automatically. The main purpose of this paper is to find out how interconnections between intellectual capital components contribute to company value. We test empirically linear and non-linear relationship between intellectual capital components and business performance with the assumption of their mutual influence on each other. From the theoretic point of view we combine the theory of intellectual capital with Value-Based Management concept and Resource-Based View in order to investigate the way that firm’s intellectual resources transform into its value.
There are two main problems when dealing with intellectual capital. The first one is intellectual capital evaluation. Previous papers on this topic are usually based on either questionnaire data or information from financial reports. However, questionnaire survey has significant disadvantage as the data obtained include subjective opinion of respondents. Financial reports lack for information about amount of firm’s intellectual capital. Therefore we propose another way to estimate intellectual capital components. Each of three components – human capital, structural capital and relational capital – is measured through the set of financial and non-financial proxy indicators which are collected from company’s reports and its web-site. Further these data are aggregated in first principal components through factor analysis to obtain the comprehensive view of intellectual capital structure. The second problem is to measure the value that has been created by intellectual resources. We chose two measures – market capitalization and market-to-book ratio.
Proposed method of analysis of intellectual capital is used on the sample of 59 firms from European countries with high level of economic and knowledge development. The sample covers five year period (from 2005 to 2009). We used the LS method to assess the direct and indirect relationships between intellectual capital and corporate value.
This study contributes in different ways. Firstly, it helps researchers and management to understand what synergetic effects between intellectual capital’s components take place. Secondly, it proposes an application of principal components method for investigating intellectual capital. Also it helps to recognize the level of homogeneity of intellectual capital elements that are combined in human capital, structural capital or relational capital and therefore are interpreted as describing one aspect of firm’s activity.
Value-based management concept regards corporate value growth for all stakeholders as the main company purpose which nowadays is primarily provided by intangible assets. However analysis of the process of converting intellectual capital (IC) and its components into the company financial performance is still a challenging research area. The main aim of the current study is to investigate the intellectual capital transformation into the company value on the basis of available information.
Smoking is a problem, bringing signifi cant social and economic costs to Russiansociety. However, ratifi cation of the World health organization Framework conventionon tobacco control makes it possible to improve Russian legislation accordingto the international standards. So, I describe some measures that should be taken bythe Russian authorities in the nearest future, and I examine their effi ciency. By studyingthe international evidence I analyze the impact of the smoke-free areas, advertisementand sponsorship bans, tax increases, etc. on the prevalence of smoking, cigaretteconsumption and some other indicators. I also investigate the obstacles confrontingthe Russian authorities when they introduce new policy measures and the public attitudetowards these measures. I conclude that there is a number of easy-to-implementanti-smoking activities that need no fi nancial resources but only a political will.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.
портовый менеджмент, показатели деятельности, анализ эффективности, система учета, распределение издержек, методы анализа деятельности портовой системы
At present many industries reveal tendency for setting up of vertically integrated companies (VIC) the structure of which unites all technological processes. This tendency proved its efficiency in oil industry where coordination of all successive stages of technological process, namely, oil prospecting and production -oil transportation - oil processing - oil chemistry - oil products and oil chemicals marketing, is necessary. The article considers specific features of introduction of "personnel management" module at enterprises of oil and gas industry.
vertically integrated companies; personnel management