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1
Thran, Tim, and Rasmus Eriksson. "Lease or Lend? : An analysis of how operating leases effect cost of debt." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-388965.
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The purpose of this study is to examine how the change in disclosure of operating leases due to the mandated IFRS 16 standard will influence entities cost of debt. Therefore, this paper investigate whether an increase in operating leases has an equal effect on the cost of debt as a corresponding increase in debt. The data consist of observations on 213 Swedish public companies during the time-period 2006-2017, resulting in a total sample of 1549 observations. This paper concludes that operating leases is a complement rather than a substitute to debt and that the increased harmonization effect caused by the alignment of interest bearing liabilities and operating leases, could be beneficial in terms of decreasing entities cost of debt.
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McLean, Lacey A. "An Examination of the Implications of the Exposure Draft "Leases" on Retail Corporations." Scholarship @ Claremont, 2011. http://scholarship.claremont.edu/cmc_theses/250.
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The release of the Exposure Draft Leases by the Financial Accounting Standards Board in August 2010 has brought about much discussion regarding the proposed treatment for lease accounting. The changes proposed include the capitalization of operating leases by lessees, which are currently regarded as off-balance sheet financing. When the proposed changes take place, industries that have substantial off-balance sheet leases currently, such as the retail industry, will face significant adjustments for assets and liabilities, as well as changes in their income statement. This paper quantifies these changes in the retail industry and examines the effect of these changes on each firm’s current debt covenant agreements.
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Dillon, J. "Impact of constructive capitalisation of operating leases on South African companies considering new proposed lease accounting rules." Master's thesis, University of Cape Town, 2014. http://hdl.handle.net/11427/8560.
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Includes bibliographical references.<br>This study analyses the impact that operating lease capitalisation has on key financial statement ratios and failure prediction indicators of listed South African companies operating within five sectors (namely General Industrials, Industrial Transportation, Food & Drug Retailers, General Retailers and Travel & Leisure), as well as whether the impact thereof is substantially the same as the new proposed accounting treatment for Type A and Type B leases in terms of ED/2013/6 (IASB, 2013). Furthermore, the extent of lease usage in South Africa and whether the size of a company has a bearing on its extent of leasing is examined. Additional analysis is also performed investigating the materiality of straight-lining and onerous contract provisions relating to operating leases, as well as the impact of operating lease capitalisation on disclosed loan covenants. Based predominantly on the constructive operating lease capitalisation method developed by Imhoff, Lipe and Wright (1991 & 1997), a refined constructive lease capitalisation model is developed in this study which incorporates aspects of current lease accounting rules not previously considered, namely provisions recognised in respect of the straight-lining of operating leases as well as onerous operating lease contracts. This model also incorporates the new proposed lease accounting rules which require the capitalisation of all leases (Type A and Type B). The results indicate that the capitalisation of future non-cancellable operating lease commitments have a significant impact on key financial statement ratios and failure prediction indicators, most notably leverage and other debt-related ratios. Furthermore, of the five sectors analysed, retailers were the most affected. When considering the new proposed accounting treatment for Type A and Type B leases, the results indicate that operating lease capitalisation has substantially the same impact on key financial statement ratios and Altman‟s failure prediction models as the conventional operating lease capitalisation method, except for certain debt-related and profitability ratios. Further results indicate that operating leases are used extensively and substantially more than finance leases within South Africa. It was also found that operating lease usage was positively related to company size, while finance lease usage decreased as company size increased. Curvilinear relationships were also noted between a company‟s size and its extent of leasing. Further analysis revealed that recognised straight-lining lease provisions are substantially more material than recognised onerous lease contract provisions and are capable of distorting the analysis of operating lease capitalisation if ignored. When scrutinising loan covenants disclosed, it was established that none of the loan covenants were breached when capitalising operating leases; however, in each instance operating lease capitalisation negatively impacted all covenant related ratios.
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Morsfield, Suzanne Gail 1960. "The impact of tax and financial reporting concerns on lessee firms' lease-type decision: Capital, operating, and synthetic leases." Diss., The University of Arizona, 1998. http://hdl.handle.net/10150/288894.
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This project clarifies previous ambiguity about the role of tax and financial reporting concerns in lessee firms' lease-type decisions. A private data set provided by anonymous lessor firms is used to accurately identify for the first time the lessee's lease-type and its use of related tax deductions. This project also considers for the first time the role of hybrid lease products such as the synthetic lease in managers' ability to balance firms' tax versus financial reporting concerns. Prior research even in the period after synthetic leases were introduced to the market relied on noisy public data that was unable to parse out lease-types and tax deduction use with unambiguous tax versus financial incentives. Contrary to prior studies, consistent strong evidence is provided indicating that lease choice varies with proxies for lessee firms' marginal tax rates (MTR's). Also contrary to previous research, only weak evidence is found for the role of financial reporting concerns as proxied by leverage measures. The strong results on the MTR variable, taken with the weak results on the leverage variable suggest that tax costs are a stronger influence on leasing choice than financial incentives. This general conclusion about the stronger role of tax incentives in comparison to financial reporting incentives is not consistent with the summary findings of previous research. However, these results support widely held expectations by leasing industry experts. This evidence is also consistent with beliefs about the relative efficiency of the financial market to appropriately value disclosed accounting information.
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Cerqueira, Catarina Alexandre. "Determinantes do lobbying por parte dos preparadores : o caso da norma sobre as locações." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/17144.
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Mestrado em Contabilidade, Fiscalidade e Finanças Empresariais<br>Este estudo procura identificar os determinantes que levam os preparadores a praticar lobbying no caso da publicação da IFRS 16 - Leases. A principal mudança relativa a esta norma levará os locatários a reconherem a maioria das suas locações nos seus balanços (IASB, 2016). A distinção entre locações operacionais e financeiras irá acabar para os locatários (Barone, Birt e Moya, 2014).
Portanto, o estudo tem dois objetivos. Em primeiro lugar, demonstrar que os preparadores são o grupo de interesse que desenvolve mais atividades de lobbying e que submete mais comment letters. Em segundo lugar, investigar os fatores que distinguem uma empresa que submete uma comment letter de outra que não o faz.
Assim sendo, o primeiro objetivo foi provado. No caso da IFRS 16 - Leases, os preparadores são o grupo de interesse que escreve mais comment letters. Além disso, há entidades que submetem mais do que uma comment letter. Dessas entidades a maioria são preparadores. Assim, os preparadores realizam mais atividades de lobbying do que os outros grupos de interesse.
Em relação ao segundo objetivo, os resultados revelam que quanto maior for o peso das rendas das locações operacionais no ativo maior é a probabilidade de um preparador submeter uma comment letter. O presente estudo também revela que a língua oficial dos países onde os preparadores estão sediados é um determinante do lobbying. Concretamente, as empresas sediadas em países cuja língua oficial é o inglês são as que praticam mais atividades de lobbying relativamente à IFRS 16 - Leases.<br>This study tries to identify the determinants that lead preparers to practice lobbying in the case of the IFRS 16 - Leases publication.The main change underlying IFRS 16 - Leases is that it will lead lessees to recognize the majority of their leases in the balance sheet (IASB, 2016). In addition, the distinction between operating and finance leases will end to lessees (Barone, Birt and Moya, 2014).
Therefore, the study has two goals. Firstly, to demonstrate that preparers are the interest group that develop more lobbying activities and submit more comment letters. Secondly, to investigate the factors that distinguishes a company that submit a comment letter from another that its doesn't.
So the first aim was proven. In the case of IFRS 16 - Leases, preparers are the interest group that write more comment letters. Furthermore, there entities that submit more than one comment letter. Most of these entities are preparers. Thus, preparers carry out more lobbying activities than other interest groups.
With regard to the second aim, the results show that the higher the weight of operational leasing rents on assets, the greater is the likelihood of a preparer submitting a comment letter. The present study also show that the countries official language where preparers are headquartered is a lobbying determinant. Specifically, companies headquartered in countries whose official language is English, are the ones that practice more lobbying activities in relation to IFRS 16 - Leases.<br>info:eu-repo/semantics/publishedVersion
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Bolin, Fredrik, and Vural Akdemir. "Nya leasingstandarden IFRS 16 : Kapitalisering av operationella leasingavtal och dess effekter." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2016. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-30567.
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Företag kan finansiera verksamheten på olika sätt. Ett alternativ för finansiering vid nyanskaffning är leasing. Det innebär att man låter ett annat bolag köpa tillgången och hyr det sedan av bolaget. Den nya standarden, IFRS 16, som ges ut av IASB och som ska tas i bruk från och med januari 2019, har ändrat kriterierna för klassificeringen av leasingavtal. Vilket har gjort att många tidigare operationella leasingavtal med en avtalstid längre än 12 månader kommer med den nya standarden att klassas som finansiella leasingavtal och därmed föras in på balansräkningen som skulder och tillgångar. Denna studie undersöker effekterna en kapitalisering ger på svenska börsnoterade bolag. För dessa bolag används en kapitaliseringsmodell för att få fram effekten av en kapitalisering av nuvarande operationella leasingavtal på balans- och resultaträkningen för år 2014. Resultaten visar på att balansräkningen kommer påverkas mer än resultaträkningen, då det tillkommer i vissa fall stora skulder och tillgångar. Detta ger genomslag till nyckeltalen, där nyckeltal såsom intensitet av investeringar, soliditet och skuldsättningsgrad får markant större förändringar än andra nyckeltal i studien.<br>Companies can use different ways to finance their businesses. One of the options is to leas the assets they want. This means that another company purchase an asset then you leas said asset from the purchasing company. IASB have made a new standard, IFRS 16, which will become active in January 2019. This new standard have change the criteria of how to classify leases. With IFRS 16 many of the operating leases that are longer than 12 months, now have to be classified as financial leases. Because of that they have to go from off balance sheet to be a part of the balance sheet. With this study we want to look at the effects that a capitalization of leases have on selected financial ratios in Swedish companies traded on the OMX Nasdaq stock exchange. We use a constructive capitalizations model to see the effects of current operating leases on the balance- and income-sheet for the year 2014. Our results indicate that most effect will be seen on the balance-sheet, because of the way capitalization works, it is intended to bring the leases onto the balance-sheet. We also see some effects on financial ratios, where balance focused ratios gets effected more than others, example intensity of investment, equity/assets and debt/equity.
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Hughes, Mark, and n/a. "The format effects of operating lease disclosures on the quality of decision-making by non-professional investors." University of Canberra. Law, 2003. http://erl.canberra.edu.au./public/adt-AUC20060203.114404.
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The recent proposal by the Group of Four Plus One to modify the accounting
treatment of operating leases has attracted considerable comment. However, a review
of the publicly available submissions to this proposal reveals that no one has
addressed the issue in terms of the primary objective of general purpose financial
reports, that is, to provide decision useful information to non-professional investors.
This thesis seeks to redress this gap by providing some evidence of the ability of nonprofessional
investors to evaluate operating leases as they are presented according to
current accounting standards and alternative presentation formats.
The thesis reports the results of an experiment carried out on surrogates for nonprofessional
investors. The main finding is that the vast majority of subjects were
unable to evaluate operating lease information when it was disclosed in the notes,
rather than reported in the body of the Statement of Financial Position. Subjects
consistently relied on reported figures and seemed unable to incorporate information
presented in the notes to the financial reports, even when the links between the notes
and the reported figures were made more obvious than is currently the case.
The finding has a number of implications. It would appear that the existing accounting
treatment of operating leases is the source of a structural information asymmetry, as a
substantial proportion of users were unable to evaluate information relating to
operating leases. This information asymmetry should be removed for reasons of
economic efficiency. The recent withdrawal by non-professional investors from
equity markets shows that non-professional investors will react strongly if they start to
doubt the ability of general-purpose financial reports to provide them with decision
useful information.
8
Gates, Casey. "Will leasing lose its luster: an analysis of lease reporting under FAS 13." Honors in the Major Thesis, University of Central Florida, 2013. http://digital.library.ucf.edu/cdm/ref/collection/ETH/id/846.
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When standards for financial reporting are amended, potential for change in the appearance of financial position for companies reporting under those standards arises. Currently standards set forth by the Financial Accounting Standards Board (FASB) allow for two methods of reporting lease obligations on the financial statements. The first of these methods is the operating method, which allows lease payments to be expensed within the period they are incurred and only a decrease in cash or an increase in an account payable is recognized on the balance sheet. The second method is the capital method, which requires the present value of the future lease payments to be recognized on the balance sheet as an asset and a corresponding liability. Both are reduced annually through depreciation and lease payments respectively. The FASB has recently proposed discontinuing the operating method of reporting a lease obligation and allowing only for the capital method to be used. The objective of this study is to examine some of the changes in appearance of financial position that might be brought on by this potential change in reporting standards. The airline industry has been selected to illustrate the effects of capitalizing future operating lease payments on the balance sheet. These future payments under operating leases for companies within the industry are capitalized using two different methods of depreciation. The companies are then ranked in order of proximity to an industry average for eight well known financial ratios. The rankings for each treatment on a given ratio are compared and differences between the expensed ranking and each capitalized ranking are measured and discussed.<br>B.S.<br>Bachelors<br>Business Administration<br>Accounting
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Söderström, Maja, and Alexandra Stadin. "K3 vs IFRS : Ett val för företag med väsentlig andel leasing." Thesis, Högskolan i Borås, Akademin för textil, teknik och ekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-14372.
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Koncerner som redovisar enligt IFRS ska från och med 1 januari 2019 tillämpa den nya leasingstandarden IFRS 16. Den traditionella och vedertagna uppdelningen av leasing har länge varit operationell och finansiell leasing. Den nya standarden innebär emellertid att uppdelningen mellan operationell och finansiell leasing försvinner. Istället ska företag enligt IFRS 16 redovisa merparten av sin leasing som en tillgång och en skuld på balansräkningen. K3 regelverket använder däremot fortfarande uppdelningen i de två olika kategorierna där ett operationellt leasingavtal likställs med ett hyresavtal och finansiell leasing med ett lånefinansierat förvärv. Ett moderföretag som tillämpar K3 regelverket kan välja att istället frivilligt tillämpa IFRS vid upprättande av sin koncernredovisning. Skillnaden i klassificering och redovisning av leasingavtal mellan de olika regelverken leder till att de finansiella rapporterna påverkas på olika sätt. Dessa skillnader påverkar företags nyckeltal, vilka ofta är relevanta mått och beslutsunderlag för företags olika intressenter såsom investerare och långivare. Syftet med studien är att undersöka vilket av de två regelverken K3 eller IFRS som en företagsledare kommer välja att tillämpa vid upprättande av koncernredovisning, om företaget är ett stort onoterat moderföretag med väsentligt värde i leasade tillgångar. Syftet är även att undersöka vilket regelverk som är mest förmånligt att tillämpa utifrån vilka effekter det medför på företagets redovisning och nyckeltal, med hänsyn tagen även till investerare och kreditgivare. För att kunna undersöka detta krävs en jämförelse av de två regelverken, vilket i denna studie görs med hjälp av konstruerade typfall som applicerar väsentliga lagrum och normer från respektive regelverk. Typfallen analyseras med stöd av IASBs kvalitativa egenskaper samt väsentliga nyckeltal och ekonomiska teorier. Resultatet av studien visar att när ett företag som redovisar operationell leasing enligt K3, tillämpar IFRS istället, förändras nyckeltalen på ett sätt som är ofördelaktigt för företaget. Således är slutsatsen att ett företag som redovisar operationell leasing kommer att välja att tillämpa K3 som regelverk vid upprättande av koncernredovisning. Om ett företag som redovisar finansiell leasing enligt K3, tillämpar IFRS istället, förändras nyckeltalen i princip inte alls. Ett företag som redovisar finansiell leasing kommer enligt vår slutsats istället välja att upprätta koncernredovisning enligt IFRS, eftersom nyckeltalen inte förändras men IFRS medför ökad legitimitet. Resultatet visar även att om ett företag som redovisar operationell leasing enligt K3, med ett avtal som löper under 12 månader, istället tillämpar IFRS, förändras nyckeltalen inte alls, eftersom leasingen redovisas på samma sätt enligt båda regelverken. Även vid detta scenario är slutsatsen att ett företag kommer välja att redovisa enligt IFRS i sin koncernredovisning, för att få ökad legitimitet. Utöver detta har vi i studien även kommit fram till att IFRS överlag visar en mer rättvisande bild av företags leasade tillgångar i de finansiella rapporterna, eftersom den redovisas enligt den ekonomiska innebörden före den juridiska formen.<br>January 1 2019, companies who are reporting according to IFRS will apply the new lease standard IFRS 16. The traditional and more commonly recognized form of leases has long been operating and financial leases. The new standard implicates that the split between operating and financial leases disappears, and companies should rather account for leased assets as an asset and a liability in their balance sheet. The legal framework K3, on the other hand, still separates them in two different categories, were an operating lease is equated with a rental agreement and financial lease is equal to a leveraged acquisition. A parent company that applies the K3 regulation may choose to apply IFRS voluntarily when preparing its consolidated financial statements. The difference between the classification and accounting of leasing contracts in the two different frameworks causes the financial statements to be affected differently. These differences are directly affecting the companies financial ratios, which are often relevant measures in decision making for companies' different stakeholders such as investors and lenders. The purpose of this study is to examine which of the two financial frameworks K3 or IFRS a business leader will choose to apply when establishing its consolidated financial statements, if the company is a large unlisted parent company with substantial value of its assets being leased. The purpose is also to examine which financial framework is most beneficial to apply based on the effects it entails on the company's accounting and key ratios, also considering investors and lenders. The result of this study shows that when a company reporting operating lease accounting according to K3, is reporting according to IFRS instead, its financial ratios are changed in an unfavorable way. The conclusion is that a company that is utilizing operating leases will choose to apply K3 as financial framework, when establishing its consolidated financial statements. If a company that is using financial leases applies IFRS instead of K3 its financial ratios are barely affected. A company who is using financial leasing will rather choose to use IFRS when establishing its consolidated financial statements, since the financial ratios don’t change and IFRS entail for increased legitimity. The results also show that if a company who is reporting operating lease according to K3, with a contract that last 12 months, applies IFRS instead of K3, its financial ratios don’t change, since the lease is accounted for in the same way between the two different frameworks. The conclusion for this scenario shows that a company will choose to report in accordance with IFRS in its consolidated financial statements. We also conclude that IFRS is showing a more fair presentation of companies leased assets in their financial reports, because the accounting is in accordance with substance over form.
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De, Villiers Rikus Ruben. "The impact of capitalising long–term operating leases on the financial ratios of the top forty JSE–listed companies / de Villiers R.R." Thesis, North-West University, 2012. http://hdl.handle.net/10394/8156.
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The assurance industry is fiercely competitive with intense rivalry among the Big Four assurance firms. Clients also exert extreme pricing pressure on audit fees to further strain profitability. Understanding and analysing the various drivers within the competitive assurance environment help an organisation to better combat the competitive forces and derive a strategy that will enable it to obtain a competitive advantage. This study analyses the competitive South African assurance environment by means of the Porter Five Forces model which identifies the drivers constituting the five competitive forces and determines which forces are the most influential in the industry. From this analysis the most appropriate strategy to compete and obtain a competitive advantage is identified. Porter's renowned model has mostly been applied in manufacturing and product industries and this study tests the theoretical appeal of the model against its practical usefulness for professional services firms, for which minimal empirical research on competitive environment analysis was found in existing literature. Semi–structured interviews with eight partners from Organisation X, the subject of a case study that was executed to answer the research questions, found the dominant force in the industry to be the bargaining power that buyers exert over assurance providers, followed closely by the rivalry among competitors. In addition the biggest concerns, challenges and developments in the industry were found to be in the areas of regulation, globalisation, skills shortages and pricing pressure. Organisation X chose to compete via a strategy of differentiation with a specific market sector focus. A gap identified in Porter's model was its sole focus on the external environment and negligence to aid organisations in developing their chosen competitive strategy; hence the Resource–based approach to strategy formulation is suggested specifically for the African investment case. Consequently, in developing an organisation's strategy to compete, management should utilise the various strategic models available to evaluate both the organisation's internal resources and capabilities and the external environmental forces affecting their organisation.<br>Thesis (MCom (Management Accountancy))--North-West University, Potchefstroom Campus, 2012.
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Forsman, Alexander, and Victor Karlsson. "IFRS 16 : Standardens effekter på de finansiella rapporterna och kreditgivares bedömningar." Thesis, Karlstads universitet, Handelshögskolan (from 2013), 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:kau:diva-68519.
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Leasing har generellt sett varit en attraktiv finansieringsmetod för företag att erhålla de tillgångar som krävs för att kunna konkurrera inom sin bransch. Med IAS 17 kan leasingavtal klassificeras som antingen finansiella eller operationella vilket påverkar hur företagen redovisar sina leasingavtal. Operationell leasing har skapat möjligheter för företag att hålla sin finansiering utanför balansräkningarna och därmed dold för företagens externa intressenter. Företagen har på så vis kunnat visa en bättre bild av deras finansiella ställning samt prestation. Denna problematik försöker nu International Accounting Standards Board (IASB) åtgärda genom att införa den nya redovisningsstandarden IFRS 16. Denna nya redovisningsstandard leder till att alla börsnoterade bolag nu tvingas redovisa alla sina leasingavtal som finansiella vilket innebär att de blir kapitaliserade i företagens finansiella rapporter. Syftet med denna studie är att förklara IFRS 16 och de effekter en kapitalisering av operationella leasingavtal kan ha på ett företags finansiella rapporter samt nyckeltal. Utöver detta vill vi skapa en förståelse för hur denna förändring kan påverka kreditgivares bedömningar av de finansiella rapporterna utifrån egenskaperna i IASBs konceptuella föreställningsram. Vi har med hjälp av en kapitalisering fört in ett företags operationella leasingavtal i deras resultat- och balansräkning och därefter studerat effekterna på de finansiella nyckeltalen. Detta material har därefter använts vid intervjuer med olika kreditgivare. Resultatet av vår studie visar att de finansiella rapporterna samt nyckeltalen påverkas vid en övergång till IFRS 16. En annan slutsats av vår studie är att kreditgivare får en mer rättvisande bild av företagets finansiella ställning samt att jämförbarheten ökar vid en kapitalisering av de operationella leasingavtalen.<br>Leasing has generally been an attractive financing method for companies to obtain the assets required to compete in its industry. With IAS 17, leases can be classified as either financial or operating leases, which affects how companies report their leases. Operating leases has created opportunities for companies to keep their financing outside their balance sheets and thus hidden from the companies’ external stakeholders. The companies have thus been able to show a better picture of their financial position and performance. International Accounting Standards Board (IASB) now seeks to resolve this issue by introducing a new accounting standard called the IFRS 16. This new accounting standard means that all listed companies now have to report all their leasing contracts as financial, which means they are capitalized in the company's financial reports. The purpose of this study is to explain IFRS 16 and the effects a capitalization of operating leases can have on a company's financial reports and key ratios. In addition, we want to create an understanding of how this change can affect creditors' assessments of financial reports based on the features of the IASB Conceptual Framework. With the help of a capitalization, we have entered a company's operating leases in their income statement and balance sheet and subsequently studied the effects on the key financial ratios. This material has then been used in interviews with different creditors. The results of our study show that the financial statements and key ratios are affected by a transition to IFRS 16. Another conclusion of our study is that creditors get a more faithful representation of the company's financial position and that the comparability increases when a company’s operating leases are capitalized.
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Waldholm, Robin, and Tess Lagerblad. "Leasetagaren i två världar : En explorativ ex-post-studie om hur införandet av IFRS 16 har påverkat verksamheten för leasetagare inom den svenska detaljhandeln." Thesis, Stockholms universitet, Företagsekonomiska institutionen, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:su:diva-193540.
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Background and problem: On January 1st 2019 the new accounting standard IFRS 16 was implemented which requires lessees to capitalize operating leases, hence moving the lease information from the footnotes on to the balance sheet. When capitalizing operating leases in quantitative studies, researchers have been able to state that it also has an effect on the income statement as well as on financial indicators, and have based on this tried to predict what effect capitalization of operating leases would have on the lessee’s underlying business. However, the expectations lack academic published empirical evidence and, above all from a period after the implementation of IFRS 16. Research question and Aim: By answering the research question “How has the introduction of IFRS 16 affected the business of lessees within the Swedish retail industry?”, the study aims to understand the impact IFRS 16 has had on the businesses of lessees within the Swedish retail industry. Theory: Previous literature has identified how capitalization of operational leasing can potentially affect parts of the business. The identified parts have been summarized in a conceptual framework, which defines what is meant by the business. The conceptual framework consists of the four different perspectives: leasing policy; reporting process; raising capital; financial goals. Method: The study has applied a qualitative method, using semi structured interviews for collecting empirical support. The respondents consisted of Chief Financial Officers, accounting specialists and accounting managers who represented Swedish retail industry lesses. Result and contribution: The study has found that lessees operates in two worlds, where the transition to IFRS 16 has occurred but where the lessees still add additional accounting according to IAS 17. Furthermore the results show that IFRS 16 enables for interpretation and assessment, which lessees have solved by centralizing processes for business and decision making concerning leasing. The insights can offer guidance for lessees that are on the verge of implementing the new accounting standard. At the same time the results complement the literature with a previously understudied perspective and thereby contributesto a more holistic view regarding the consequences of implementation of IFRS 16.<br>Bakgrund och problematik: Den 1 januari 2019 infördes den nya redovisningsstandarden IFRS 16, som numera tvingar leasetagare att kapitalisera operationell leasing och därmed förflytta information om leasingåtaganden från fotnoterna till balansräkningen. Vid kapitalisering av operationell leasing har forskare genom kvantitativa studier kunnat konstatera att det även får implikationer på såväl resultaträkningen som finansiella nyckeltal, för att sedan försöka förutspå vad kapitalisering av operationell leasing skulle ha för påverkan på den underliggande verksamheten. Däremot saknar förväntningarna akademiskt publicerade empiriska belägg, och framförallt från en tid då IFRS 16 trätt i kraft. Forskningsfråga och syfte: Genom att svara på forskningsfrågan “Hur har införandet av IFRS 16 påverkat verksamheten för leasetagare inom den svenska detaljhandeln?”, ämnar studien att förstå vilken påverkan införandet av IFRS 16 har haft på verksamheten för leasetagare inom den svenska detaljhandeln. Teoretisk förankring: Tidigare litteratur har identifierat hur kapitalisering av operationell leasing potentiellt kan komma att påverka delar inom verksamheten. De identifierade delarna har summerats i ett konceptuellt ramverk, som definierar vad som avses med verksamheten. Det konceptuella ramverket består av de fyra olika perspektiven: leasingpolicy; rapporteringsprocess; kapitalanskaffning; finansiella mål. Metod: Studien har tillämpat en kvalitativ metod i form av semi-strukturella intervjuer för insamlandet av empiriskt underlag. Respondenterna bestod av ekonomichefer, redovisningsspecialister och redovisningschefer, vilka representerade leasetagare verksamma inom den svenska detaljhandeln. Resultat och bidrag: Studien har funnit att leasetagare befinner sig i två världar, där det har skett en övergång till IFRS 16 men att leasetagare fortfarande tilläggsredovisar enligt IAS 17. Därtill visar resultaten att IFRS 16 möjliggör för tolkningar och bedömningar, vilket leasetagare har löst genom att centralisera arbets- och beslutsprocesser gällande leasing. Insikterna kan tänkas erbjuda en vägledning för leasetagare som står inför att tillämpa den nya redovisningsstandarden. Samtidigt kompletterar resultaten litteraturen med ett tidigare understuderat perspektiv och medverkar därmed till en mer holistisk förståelse vad gäller följderna av IFRS 16.
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Eriksson, Johan, and Axel Gref. "Effekter av införandet av IFRS 16 : En kvantitativ studie på svenska börsnoterade företag." Thesis, Södertörns högskola, Institutionen för samhällsvetenskaper, 2019. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-38567.
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The background for this essay is the problems associated with the previous leasing standard IAS 17, and the implementation of the new, IFRS 16. During the appliance of IAS 17 leasing was either classified as operating- or finance leasing. Here the focus is whether there are similarities in the lease contract to a repayment purchase or not. For finance leases there are similarities to a purchase of the asset, where the lessee shall report both the asset and liability in the balance sheet. Simultaneously neither the asset or liability is reported in the balance sheet when establishing operating leases.The previous standard IAS 17 has received great criticism for allowing the operating leases to be outside the company's accounting, because they have meant that the transparency and reliability of the reported information has been inadequate. Companies that establish operating leases results in misleading key ratios, and may consequently therefore underestimate their financial risks associated with the leased asset. A lower debt ratio may be related to a higher debt financing of the balance sheet.The study is conducted to examine the potential effects the implementation of IFRS 16 has on different industries in Sweden, and how it will affect the key ratios EBITDA, debt, leverage and solidity. Relevant previous literature concerning potential effects in industries will be presented in the theoretical section. The result of the study will there after be presented and analyzed with previous scientific research.<br>Bakgrunden till denna uppsats är problemen i samband med den tidigare leasingstandarden IAS 17 och införandet av det nya IFRS 16. Under tillämpningen av IAS 17 klassificerades leasingavtal som antingen operationell eller finansiella. Klassificeringen handlar om det finns likheter i hyreskontraktet till ett återbetalningsköp eller ej. För finansiella leasingavtal finns det likheter till ett köp av tillgången, där leasetagaren ska redovisa både tillgång och skuld i balansräkningen. Samtidigt redovisas varken tillgång eller skuld i balansräkningen vid upprättandet av operationella leasingavtal. Den tidigare standarden IAS 17 har fått stor kritik för att de operationella leasingavtalen tillåts vara utanför bolagets bokföring, det har inneburit att insynen och tillförlitligheten hos den rapporterade informationen har varit otillräcklig. Operationella leasingavtal leder till vilseledande nyckeltal och att företagen därmed kan underskatta deras finansiella risker i samband med den hyrda tillgången. En lägre skuldkvot kan vara relaterad till en högre skuldfinansiering från balansräkningen. Studien genomförs för att undersöka de potentiella effekter som IFRS 16 har på olika branscher i Sverige, och hur införandet påverkar nyckeltalen EBITDA, skuldsättning, skuldsättningsgrad och soliditet. Relevant tidigare litteratur om de potentiella effekterna inom branscherna kommer att presenteras i det teoretiska avsnittet. Resultatet av studien kommer därefter att presenteras och analyseras med tidigare vetenskaplig forskning.
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Allert, Norgren Daniel, and Oskar Martinelle. "IFRS 16 påverkan på jämförbarheten och företagsvärderingar på Stockholmsbörsen : En kvantitativ studie om en ny redovisningsprincip för leasing." Thesis, Luleå tekniska universitet, Institutionen för ekonomi, teknik och samhälle, 2020. http://urn.kb.se/resolve?urn=urn:nbn:se:ltu:diva-79428.
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Redovisningen av leasing har länge kritiserats för att väsentliga tillgångar inte redovisats i balansräkningen. I januari 2019 implementerades IRFS 16 som en ny redovisningsstandard för leasing. Standarden innebär att tidigare operationella leasingavtal ska redovisas i balansräkningen som en nyttjanderättstillgång med en tillhörande leasingskuld. Syftet med IFRS 16 är att öka jämförbarheten mellan företag som finansierar tillgångar genom lån och företag som leasar tillgångar. Denna standard kommer förändra finansiella nyckeltal som ofta används av intressenter för att bedöma ett företags finansiella ställning. Studiens syfte är att öka förståelsen för hur IFRS 16 har påverkat jämförbarheten och företagsvärderingar på Stockholmsbörsen och specifikt i detaljhandelbranschen som förväntas påverkas mest. Studien har genomförts genom datainsamling från 305 företag på Stockholmsbörsen där företagen senare delats in i olika branscher för att undersöka skillnader. Denna studie har tillämpat positiv redovisningsteori som ligger till grund för att analysera resultatet. Resultatet visar en signifikant förändring i samtliga finansiella nyckeltal som undersökts. Detaljhandeln är den bransch som påverkas mest av IFRS 16 där skuldsättningsgraden ökade med 78,23%. Anledningen till varför detaljhandeln påverkas mer än övriga branscher är för att verksamheterna finansieras till stor del genom leasing av lokaler. En ökad skuldsättningsgrad till följd av IFRS 16 leder till en försämrad finansiell ställning trots att den faktiska betalningsförmågan är oförändrad. Detta kan påverka förmågan att attrahera kapital samt möjligheten att förhålla sig till nya och befintliga lånevillkor. Vidare kan en större varians i nyckeltal påverka värderingar av företag till följd av en förändrad jämförbarhet samt högre lönsamhetsmått och högre skuldsättning. IFRS 16 leder även till en ökad transparens genom att leasingavtalen redovisas i balansräkningen mot att tidigare frivilligt redovisats i noterna. Studiens slutsats är att IFRS 16 har en betydande påverkan på jämförbarheten och finansiella nyckeltal på Stockholmsbörsen. Relevansen av vissa nyckeltal kan påverkas och intressenter kommer behöva göra justeringar för redovisningsstandarden. Över tid kan jämförbarheten däremot förväntas öka i och med att nyttjanderättstillgångar och leasingskulder redovisas mer lättillgängligt vilket leder till att intressenter får en bättre förståelse för hur verksamheterna finansieras.<br>Accounting for leases has long been criticized for not recognizing significant assets in the balance sheet. IFRS 16 was implemented in January 2019 as a new accounting standard for leases. The new standard means that previous operating leases are recognized in the balance sheet as a right-of-use asset and a lease liability. The purpose of IFRS 16 is to improve comparability between companies that finance assets through loans and companies that lease assets. The standard will have an impact on financial ratios that are commonly used by stakeholders to assess the financial standing of a company. The purpose of the study is to increase understanding of the impact IFRS 16 has on comparability and valuations on the Stockholm Stock Exchange and specifically the retail sector which is expected to be affected the most. The study was conducted through data collection from 305 companies on the Stockholm Stock Exchange where the companies were later divided into different sectors to analyze differences. Positive accounting theory has been applied to help analyze the result of the study. The result shows a significant change in all of the key financial ratios which have been examined. IFRS 16 has the largest impact in the retail sector among all sectors with an increase of 78,23% in debt to equity ratio. Retail is affected more than any other sector due to the large amount of leasing in financing the business activities. An increased debt to equity ratio as a result of IFRS 16 leads to a weaker financial standing despite an unaffected ability to pay long-term debts and interests. This affects a company’s ability to raise capital and their capability of sustaining covenants. Furthermore, the variance in financial ratios may have an impact on valuations due to an affected comparability and higher profitability ratios and higher debt. However, IFRS 16 will increase transparency of lease contracts by recognizing these in the balance sheet which were previously voluntarily disclosed in the notes. The study concludes that IFRS 16 has a significant effect on the comparability and financial ratios on the Stockholm Stock Exchange. The relevance of certain ratios may be affected and stakeholders will need to make adjustments for the new standard. Over time, comparability is expected to improve by better accessibility of right-of-use assets and lease liabilities which leads to a better understanding of the financing of businesses.
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Bergholm, Albin, and Fatijon Islami. "Kapitalisering av operationell leasing – en konsekvens av IFRS 16." Thesis, Högskolan i Borås, Akademin för textil, teknik och ekonomi, 2017. http://urn.kb.se/resolve?urn=urn:nbn:se:hb:diva-12629.
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Den internationella redovisningsstandarden för leasingavtal, IAS 17 Leasingavtal, harkritiserats för att den möjliggör för företag att redovisa utanför balansräkningen genomoperationell leasing. Det har länge förts diskussion kring redovisningen av operationellaleasingkontrakt och om de representerar en rättvisande bild. Operationella leasingkontraktorsakar att företag undanhåller tillgångar och skulder från balansräkning. Ur denna problematikhar IASB skapat den nya redovisningsstandard, IFRS 16 Leases, som ska ersätta den gamlaredovisningsstandarden.Huvuddragen i den nya standarden IFRS 16 är betydande förändringar för leasetagaren snarareän för leasegivaren, där regleringen påminner mer om det tidigare regelverket. Leasetagarenkommer att behöva redovisa en nyttjanderätt och en leasingskuld och den nuvarandeuppdelningen av finansiell och operationell leasing kommer därmed att upplösas. På så sättändras företagens strategiska beslut vid finansiering av verksamheten. Leasegivaren påverkasdäremot inte av förändringen, denne kommer fortfarande att behöva klassificera leasingavtalsom finansiella eller operationella i enlighet med klassificeringskriterier som motsvarar de iIAS 17.Syftet med uppsatsen är att med typfall undersöka hur den nya internationellaredovisningsstandarden, IFRS 16 Leases, kan komma att påverka företags balans- ochresultaträkningar och i förlängningen hur det kommer att beröra relevanta finansiella nyckeltal.Studiens syfte undersöks genom våra två forskningsfrågor som undersöker effekten avkapitalisering av de operationella leasingåtaganden för företags balans- och resultaträkning vidtillämpning av IFRS 16 samt påverkan på företags nyckeltal som är knutna till balans- ochresultaträkningen av kapitaliseringen enligt IFRS 16.Med hjälp av typfallen har vi kunnat dra slutsatser som besvarar uppsatsens syfte samtforskningsfrågor. I vår studie har vi visat att nyckeltal som soliditet och skuldsättningsgradkommer att påverkas markant av den kapitalisering som IFRS 16 innebär och grundar sig i denleasingskuld som företagen behöver redovisa vid tillämpning av IFRS 16. De undersöktanyckeltalen vinstmarginal, räntabilitet på eget kapital samt totalt kapital, har i vår studie visatsinitialt bli lägre vid tillämpning av IFRS 16. Vi har dock dragit andra slutsatser om vad somhänder över leasingperioden med nyckeltalen. Nyckeltalen kommer vid leasingperiodens slutvisa högre avkastning än vad IAS 17 hade visat under samma period. Slutsatsen grundar sig iresultatpåverkans omfördelning då avskrivning, ränta och amortering görs istället förkostnadsföring av leasingavgiften.Vi har kommit fram till att företagsredovisning av det som tidigare var operationellaleasingkontrakt blir mer komplicerad när IFRS 16 tillämpas. Övergångsbestämmelser till dennya standarden har även öppnat upp för företagen att ge en anpassad bild av redovisningen motintressenter. Utifrån vår studie har vi också dragit slutsatsen att övergången till den nyastandarden på lång sikt kommer gynna företagets intressenter. I dagsläget gör intressenter redanjusteringar för företags operationella leasingåtagande vid beräkning av kreditrisk. Den nyastandarden innebär att intressenter slipper göra justeringar då företaget redovisar en merrättvisande bild av de finansiella rapporterna.<br>The International Accounting Standard for leases, IAS 17 Leases, has been criticized to enablecompanies to report off-balance sheet by reporting leases as operating leases. There has longbeen discussion about the accounting of operational leases and if they represent a fair view.These contracts cause companies to withhold assets and liabilities from the balance sheet. Fromthis issue, the IASB has created a new accounting standard, IFRS 16, which will replace the oldaccounting standard.Key features of the new standard IFRS 16 has significant changes for the lessee rather than thelessor, where regulation is more reminiscent of the previous regulatory framework. The lesseewill need to report a right of use asset and a lease liability and the current breakdown of financialand operational leasing will therefore be dissolved. In this way, the company’s strategicdecisions changes in financing the business. The lessor will not be affected by this change, hewill still need to classify leases as capital or operating in accordance with the classificationcriteria corresponding to those of IAS 17.The purpose of this study is to investigate, with constructed scenarios, how the new accountingstandard, IFRS 16 Leases, will affect corporate balance sheets together with income statementsand, in the long run, how this affects relevant financial ratios. This is examined by our tworesearch questions which seek to find the effect of the capitalization of the operating leases forcorporate balance sheet and income statement when applying IFRS 16 as well as the impact oncompany’s financial ratios.Through our scenarios we have been able to draw conclusions that answers the study’s purposeand research questions. In our study, we have shown that key ratios, such as equity and leveragewill be significantly influenced by the capitalization that IFRS 16 implies. This is based on thelease liability that companies need to report when applying IFRS 16. The examined financialratios, profit margin, return on equity and return on assets have shown in our study to be initiallylower when applying IFRS 16. However, we have drawn other conclusions about what happensover the lease period with the ratios. The key ratios will ultimately show higher returns thanIAS 17 had shown during the same period. This conclusion is based on the reallocation ofearnings impact, as depreciation, interest and amortization is made instead of expensing thelease fee.We have concluded that corporate accounting of what was previously operational leasingbecomes more complicated when IFRS 16 is applied. Transitional options to the new standardhas also opened opportunities for companies to provide a customized picture of the financialstatements to stakeholders. Based on our study, we have also drawn the conclusion that thetransition to the new standard in the long run will benefit the company’s stakeholders. In thecurrent situation, stakeholders already adjust for operational leases when calculating corporatecredit risk. The new standard means that stakeholders do not need to make these adjustmentsas the company reports a more fair picture of the financial statements.This study is hereinafter written in Swedish.
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Nylen, Christoffer, and Fornes Philip Nilsson. "Effekterna av att kapitalisera operationella leasingavtal : Hur påverkas stora företag verksamma i Sverige av IFRS 16?" Thesis, Södertörns högskola, Företagsekonomi, 2018. http://urn.kb.se/resolve?urn=urn:nbn:se:sh:diva-35442.
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Leasing is and has been American companies largest external source of equipment financing and there are signs that the concept been used 2010 years before Christ. It is larger than bank loans, bonds, stocks, commercial mortgages and the fastest growing form of business investment. Imhoff, Lipe and Wright (1991) wrote that the popularity of leasing is due to management's ability to maintain leased asset and hence the finance obligation off-balance sheet. The forthcoming transition from IAS 17 to IFRS 16 implies a change of operational and financial leasing reporting for lease takers to provide a more transparent and comparable picture of the company's balance - and income statement. The constructive capitalization method is the theory of this paper which Imhoff, Lipe and Wright (1991,1997) developed and Fülbier Silva and Pferdehirt (2008) later modified. The method is used to capitalize the company's operational leases based on public information from annual reports. The study was conducted with a quantitative approach by collecting secondary data on the OMXS30 companies. The purpose of the paper was to highlight how large company’s operative in Sweden are affected by the new leasing rules in IFRS 16 and review the amount of debts that are de facto outside the balance sheet. This study shows that companies will report higher liabilities, assets, operating profit and net profit, and less own equity. The study also shows that the key ratios examined will change when the transition from IAS 17 to IFRS 16 occurs. The capitalization of operational leases led to a higher increase in total liabilities than total assets that could see a less higher increase. This led to a diversified effect on the key ratios examined. Key ratios linked to profitability and solidity that change the most in comparison with the remaining key ratios in this study were the D/A ratio and Solidity. The key ratio with the most overall diversified change where the debt / equity ratio. The financial ratios were changed for all the examined companies, however, the P/E rate staggered with the highest change, overall and for each company. This paper shows that retailers will be affected most, which H&M shows in this study with a doubling debt ratio.<br>Leasing har varit och är amerikanska företagens största externa källa till utrustningsfinansiering och det finns spår som tyder på att konceptet redan använts 2010 år före Kristus. Leasing är större än banklån, obligationer, aktier och är den snabbast växande formen av affärsinvesteringar. Imhoff, Lipe och Wright (1991) skrev att populariteten av leasing beror på ledningens förmåga att behålla den leasade tillgången och därmed den finansiella skulden utanför balansräkningen. Den kommande övergången från IAS 17 till IFRS 16 innebär en förändring av operationell och finansiell leasingredovisning för leasingtagare för att tillhandahålla en mer transparent och jämförbar bild över företagets balansräkning och resultaträkning. Teorin för denna uppsats är konstruktiv kapitaliseringsmetod som Imhoff, Lipe och Wright (1991,1997) tog fram och som senare Fülbier Silva och Pferdehirt (2008) modifierade. Modellerna används för att kunna kapitalisera företagens operativa leasingavtal utifrån offentlig information från årsredovisningen. Studien genomfördes med en kvantitativ ansats genom insamling av sekundärdata på OMXS30-företagen. Syftet med uppsatsen är att belysa hur stora företag som är verksamma i Sverige påverkas av de nya leasingreglerna i IFRS 16 och uppmärksamma hur mycket skulder som de facto ligger utanför balansräkningen. Denna studie framvisar att företagen kommer redovisa högre skulder, tillgångar, rörelseresultat och nettoresultat samt ett mindre eget kapital. Studien uppmärksammar även att de undersökta nyckeltalen kommer förändras vid övergången från IAS 17 till IFRS 16. Kapitaliseringen av operationella leasingavtal ledde till en högre ökning av summa skulder än summa tillgångar som erhöll en mindre ökning. Detta ledde till en diversifierad effekt på de undersökta nyckeltalen. Nyckeltalen kopplat till lönsamhet och soliditet, som förändras mest i jämförelse med de resterande undersökta nyckeltalen i denna studie, var D/A – talet och Soliditet samt nyckeltalet som hade högst diversifierad förändring var skuldsättningsgraden. De mer finansiellt inriktade nyckeltalen förändrades för samtliga undersökta företag dock presenterade P/E – talet den högsta förändringen, totalt sett och för respektive företag. Sammantaget för studien är att detaljhandelsföretag kommer påverkas mest vilket H&M demonstrerar i denna uppsats med en fördubblad skuldsättningsgrad.
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Ben-Zvi, Noa. "(OR)² : operations research applied to operating room supply chain." Thesis, Massachusetts Institute of Technology, 2014. http://hdl.handle.net/1721.1/91096.
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Thesis: S.M., Massachusetts Institute of Technology, Department of Electrical Engineering and Computer Science, 2014. In conjunction with the Leaders for Global Operations Program at MIT.<br>Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2014. In conjunction with the Leaders for Global Operations Program at MIT.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (page 63).<br>Massachusetts General Hospital (MGH) is ranked as the top hospital in New England and second nation-wide. It is also the largest hospital in New England; it uses an average of 58 operating rooms, where approximately 150 surgical procedures are performed daily. Management of surgical supplies is a critical component of the processes supporting this infrastructure. Specifically, ensuring the right equipment and supplies are available at the right time is critical for the efficiency and quality outcomes of each of the procedures. The materials management group handles over 10,000 unique items, purchased from more than 400 vendors. The majority (60-70%) of disposable supplies are ordered through Owens & Minor, a medical and surgical supplies distributor. The supplies are stored in multiple locations throughout the hospital, including two central locations as well as carts and cabinets on the surgical floors and in the operating rooms. The work described in this thesis focuses on the inventory management of disposable surgical supplies, where the current system design has inefficiencies in the inventory levels and location of items. Using a data-driven approach, based on historical demand, we calculate base stock levels by item that maintain three days of inventory at a 99 percent service level. In addition, we suggest a methodology to support decisions on inventory locations of the different items. Implementation of the recommended changes is estimated to result in savings of 30-40% in inventory levels (and space), corresponding to a one time saving of $700,000-$900,000, depending on the implementation scenario. In addition, the reduction in inventory levels can be translated to future savings in inventory holding costs at an estimated 40% rate, leading to a saving of roughly $300,000 annually.<br>by Noa Ben-Zvi.<br>S.M.<br>M.B.A.
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Korecký, Ondřej. "Leasingová smlouva." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-72143.
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This thesis, "Lease contract", deals with the topic of leasing, especially with the legal aspects of lease transaction. In first part it describes the history of leasing, classification of lease operations according various criteria and advantages and disadvantages of leasing as a form of financing. Second part is focused on the description of Czech lease market, its development and the situation in year 2010. Third part is focused on the legal aspects of lease contract and lease transaction in Czech law and also in international law. Final part of thesis compares general terms and conditions of leasing of three selected companies on Czech market with general term which are recommended by Czech Leasing and Finance Association.
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Limburská, Martina. "Leasingová smlouva v českém, slovenském a rakouském právu." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-150153.
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The aim of this thesis is to provide complex information on the characteristics of leasing, its cathegorisation and accounting issues including the comparison of leasing relationships outside of the Czech Republic, namely in Austria and in Slovakia. The work is divided into nine chapters, first three of them deal with general concept of leasing -- its history, various types and particularly with the legal framework of leasing in the applicable Czech legislation. The subsequent chapters focus on the lease agreement itself from the moment it comes to existence including the principal requirements of the agreement through changes that may occur during the existence of the agreement to its termination. The eighth chapter is intended to acquaint the reader with accounting of the lease transaction under the international financial reporting standards IFRS and to compare these accounting transactions with processes contained in the Czech accounting legislation. The last part of the work is based mainly on materials provided by IKB Leasing ČR s.r.o. and focuses on differences in the regulation of leasing relationship in Slovakia and Austria.
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Holzer, Michal. "Operativní leasing." Master's thesis, Vysoké učení technické v Brně. Fakulta podnikatelská, 2014. http://www.nusl.cz/ntk/nusl-224577.
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The thesis is focused on operating leases. The theme develops from the fields of accounting, law and taxation. It deals with a current offer in this area with the aim of assessing the proposal of a specific leasing company, comparing to its competitors, and assessing any recommendations for improvement.
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Šťovíčková, Martina. "Externí financování dlouhodobého majetku z účetního a daňového hlediska." Master's thesis, Vysoká škola ekonomická v Praze, 2014. http://www.nusl.cz/ntk/nusl-193351.
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The thesis analyses the ways of external financing above all from the accounting and tax perspective through lease and loan. The first part defines the financial lease and loan, the way how they are captured in accounting and their relations to taxes. There are advantages and disadvantages of both ways of financing listed and analysed in more details. The second part of the thesis compares the acquision of assets through loan or lease. The ways of financing are compared from the administrative and tax perspective as well as the financial cost of the investment.
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Paxton, Blaine Kermit. "The Dell operating model." Thesis, Massachusetts Institute of Technology, 2004. http://hdl.handle.net/1721.1/34778.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Dept. of Civil and Environmental Engineering; in conjunction with the Leaders for Manufacturing Program at MIT, 2004.<br>Includes bibliographical references (p. 62-63).<br>Dell, Inc. is well known for its dramatic and continually improving operational performance in terms of unit cost, inventory level, production capacity, and labor efficiency. However, in late 2002, several members of Dell's Americas operations group realized that they did not fully understand what was driving this operational excellence. Therefore, they decided to sponsor an MIT Leaders for Manufacturing internship project to find out. The goal of this project was to "identify and document the essential beliefs, principles, and practices that have contributed to the operations success at Dell". The result of this endeavor is a model which describes four beliefs that are widely shared between members of Dell's operations organizations. These four beliefs (or cultural elements) are, in turn, supported by a set of specific management practices and programs. This model was developed using qualitative organizational research methods including conducting semi-structured interviews, holding focus groups, and gathering individual feedback on a draft version of the model for final validation. In this thesis, the "Dell Operating Model" is described, and each element of the model is shown to support Dell's critical business objectives. The model is then examined through the lenses of three organizational frameworks, and the limitations of these alternate frameworks are discussed. Finally, the applicability of the model to other companies is discussed, and new projects are proposed that will build on this research.<br>by Blaine Paxton.<br>S.M.<br>M.B.A.
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Pavlišová, Veronika. "Vývoj leasingu v ČR." Master's thesis, Vysoká škola ekonomická v Praze, 2010. http://www.nusl.cz/ntk/nusl-113085.
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This thesis deals with the characteristics of leasing, lease development and history over time, accounting for leases, lease showing in the tax system as well as international financial reporting standards. The aim of this thesis is to define the concept of leasing and its species. Clarifying the issue of lease accounting in terms of tenant and landlord.
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Slater, Michelle McHugh. "National Inquiry of Clinical Nurse Leadership in the Operating Room." Case Western Reserve University Doctor of Nursing Practice / OhioLINK, 2016. http://rave.ohiolink.edu/etdc/view?acc_num=casednp1476639876263273.
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Čakarová, Cveta. "Projekt IASB vytvoření nových pravidel pro leasing." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-142146.
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The aim of this thesis is to create a comprehensive view of financial reporting of lease contracts from lessee's and lessor's point of view in accordance with International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP). The thesis is divided into four parts. The first part is devoted to basic characteristics of the lease and its reporting according to the currently applicable standards - IAS 17 and ASC 840. Content of the next part is Convergence of Accounting Standards. Second half of the thesis focuses on the Exposure Draft and Comment Letters.
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Nag, Aditya. "Revolutionizing standard operating procedures in biomanufacturing." Thesis, Massachusetts Institute of Technology, 2013. http://hdl.handle.net/1721.1/81006.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division; in conjunction with the Leaders for Global Operations Program at MIT, 2013.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (p. 88).<br>In its quest to become a High Reliability Performance (HRP) organization, Amgen manufacturing operations desires to further improve its adherence to, and effectiveness of, its standard operating procedures (SOPs). SOPs are expected to provide clear guidance to operators to enable them to perform their job safely and effectively. This thesis aims to take a step back and answer the question "What is the best way to provide information and instruction to floor operators in order for them to perform their job in the best way possible?" Our hypothesis is that SOPs with content and style customized to the needs of the user will enhance performance along key operational metrics. This thesis includes an analysis of the current challenges of Amgen's existing SOPs including comparison to external benchmarks and academic research. Subsequently, we provide a recommendation on future SOP content, style and supporting infrastructure informed by our research. The analysis concludes with the results of a pilot project designed to evaluate our hypothesis. The analysis indicates that while our initial findings are encouraging, further research is required to conclusively determine the validity of our hypothesis.<br>by Aditya Nag.<br>S.M.<br>M.B.A.
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Greguš, Adam. "Způsoby pořizování dopravních letadel a fleet management letecké společnosti." Master's thesis, Vysoká škola ekonomická v Praze, 2017. http://www.nusl.cz/ntk/nusl-359233.
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The aim of this thesis is to work out a topic regarding airliner acquisition and financing methods. Fleet planning is an important decision-making process because acquiring an aircraft is a capital-intensive investment. There are different methods of acquiring and financing and each of them have its advantages and disadvantages which complies different operational, tactical and strategical needs of an airline. The aim is also to analyze and describe current and forecast situation within the airline industry both globally and regionally. The last part is dedicated to flight fleet management instruments, such as performance, operational, financial metrics and indicators that helps an airline to operate its fleet efficiently, and a case study based upon a real ACMI contract.
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Agrawal, Vishal. "Essays on sustainable operations." Diss., Georgia Institute of Technology, 2010. http://hdl.handle.net/1853/34800.
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With the increased attention of different stakeholders on the environmental performance of businesses, several firms are increasingly focusing on product recovery and reuse activities which are not only profitable but may also help to reduce the environmental impact of their operations. This dissertation focuses on managerial challenges associated with such value-added recovery and reuse activities. The first essay examines how a firm should bring a product to market, in particular, whether to lease or sell products. Motivated by claims that leasing can be an environmentally superior to selling, we analytically investigate if either leasing or selling can be both more profitable for a monopolist and have a lower total environmental impact. The second essay first experimentally examines the effect of remanufactured products on the perceived value of new products. This effect is then incorporated to analytically investigate an OEM's strategy in the presence of competition from third-party remanufacturers. In the third essay, motivated by a major IT company, we investigate the optimal product recovery and remanufacturing strategy for a firm that can offer trade-in rebates to achieve price discrimination. We also consider the effect of potential entry of third-party remanufacturers on the firm's recovery and remanufacturing strategy.
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Zhang, Zheng. "Semiparametric least squares analysis of the receiver operating characteristic curve /." Thesis, Connect to this title online; UW restricted, 2004. http://hdl.handle.net/1773/9578.
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Krejčí, Miloš. "Leasing z pohledu IFRS a české legislativy." Master's thesis, Vysoká škola ekonomická v Praze, 2007. http://www.nusl.cz/ntk/nusl-5249.
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Thesis deals with leasing transactions in view of czech accounting and tax legislation and in view of International financial reporting standards. Emphasis is placed on classification of leases as a finance lease and operating lease and especially on different impact of finance lease transactions on the financial statements of lessor and lessee prepared in accordance with czech legislation and IAS/IFRS.
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Luu, Henry H. T. "Airline operating cost reduction through enhanced engine health analytics." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/119307.
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Thesis: S.M., Massachusetts Institute of Technology, Department of Aeronautics and Astronautics, In conjunction with the Leaders for Global Operations Program at MIT, 2018.<br>Thesis: M.B.A. Massachusetts Institute of Technology, Sloan School of Management 2018 In conjunction with the Leaders for Global Operations Program at MIT<br>Cataloged from PDF version of thesis. "June 2018."<br>Includes bibliographical references (pages 108-111).<br>Engine Health Management (EHM) is a comprehensive maintenance service offered by engine manufacturer Pratt & Whitney (PW) to its airline customers. In its current form, engine performance is monitored through recorded physical metrics, such as gas temperature, pressure, and altitude, taken as single snapshots at various phases of flight. The advent of the Enhanced Flight Data Acquisition, Storage and Transmission (eFASTTM) system, which allows for near-continuous recording of engine metrics, provides Full-Flight Data Analytics (FFDA) that may proactively alert and recommend maintenance activity to airlines. Adopting eFASTTM may help avoid Adverse Operational Events (AOE) caused by unexpected engine failures and the associated cost burdens. With respect to operating cost, airlines standardly report Cost Per Available Seat Mile (CASM) and Cost Per Block Hour (CBH). EHM services that prevent operational disruptions can help airlines reduce these unit-cost metrics, whose scrutiny by industry analysts affect investment guidance, stock performance, and overall business outlook. In this study, the value of FFDA services to airlines is investigated on the International Aero Engines V2500, a mature engine with customers' operational histories well-documented. Using a Poisson distribution to model the occurrence of six operational disruption types-Inflight Shutdown, Aircraft-On-Ground, Aborted Takeoff, Air Turn-Back, Ground Turn-Back, and Delay/Cancellation-the cost savings potential is quantified as a function of events avoided by a hypothetical FFDA service. Airline Form 41 financial data from the Bureau of Transportation Statistics is then used to estimate the magnitude of savings on CASM and CBH retroactively for 2012-16. Results show that unit cost reductions of 0.5% to 1.5% are possible through engine event avoidance, representing savings up to $104M annually, but outcomes are highly dependent on assumptions about cost of operational disruptions for each individual carrier. Overall, a baseline model and procedure is developed for valuating FFDA and associated EHM services. Further collaboration between airlines and Pratt & Whitney on data availability and accuracy will help refine this model, which is the first to bridge publicly available airline costs with engine history data, helping stakeholders transition to an eFASTTM ecosystem that promises greater operational efficiency and safety.<br>by Henry H. T. Luu.<br>S.M.<br>M.B.A.
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Holland-Burman, Alexander, Richard Widerståhl, and Lisa Axelberg. "Understanding the internationalization process of Swedish SMEs operating in international healthcare markets." Thesis, Uppsala universitet, Företagsekonomiska institutionen, 2013. http://urn.kb.se/resolve?urn=urn:nbn:se:uu:diva-202629.
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The widespread and rapid internationalization of small to medium-sized enterprises (SMEs) in the healthcare sector is outpacing our efforts to understand the motives behind this phenomenon and the processes that propel it. This paper investigates the internationalization processes of Swedish SMEs that operate in the international healthcare markets. Based on interviews from five SMEs, the study seeks to understand why these SMEs internationalize, and how and in what way this internationalization process unfolds. By developing a conceptual model based on previous literature for SME internationalization, knowledge and networks, and the regulatory environment in which the SMEs operate, the findings are analyzed in the context of the healthcare industry. The research concludes that product approval regulations have a small influence on the internationalization process; instead establishing relationships with local key opinion leaders to create awareness and legitimacy was essential to successfully enter a new foreign market. A further key finding identified was that each market is characterized by different national praxis and contrasting views on patient treatment methods, which was recognized as a challenge among the case firms.
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Giansiracusa, Michael P. "Preliminary design capability enhancement via development of rotorcraft operating economics model." Thesis, Massachusetts Institute of Technology, 2010. http://hdl.handle.net/1721.1/61865.
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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering; and, (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; in conjunction with the Leaders for Global Operations Program at MIT, 2010.<br>Page numbers proceeded by chapter numbers. Cataloged from PDF version of thesis.<br>Includes bibliographical references (p. 107-111).<br>The purpose of this thesis is to develop a means of predicting direct operating cost (DOC) for new commercial rotorcraft early in the design process. This project leverages historical efforts to model operating costs in the aviation industry coupled with a physics-based approach. The physics governing rotorcraft operation are combined with fundamental considerations encountered during rotorcraft design to identify potential design parameters driving operating costs. Sources for obtaining data on these parameters for existing designs are explored. The response data is generated by estimating operating costs for seventy-seven currently available commercial rotorcraft models under a fixed set of operating assumptions. Statistical analysis of this data is combined with the physics and first principles approach to identify key explanatory variables demonstrating a strong relationship to operating cost. Multiple regression techniques are used to develop transfer functions relating rotorcraft design variables to direct operating cost. The analysis shows that the maximum takeoff gross weight of the rotorcraft design is strongly correlated with direct operating costs. Specifically, a simple regression model using the square root of maximum takeoff gross weight as the only explanatory variable can be used to account for over 90 percent of the variation in total direct operating cost (TDOC). After accounting for maximum takeoff gross weight, the analysis suggests that rotorcraft models with two engines have higher TDOC than those with a single engine. A multiple regression model using maximum takeoff gross weight and the number of installed engines in the rotorcraft design is presented and accounts for 97 percent of the variation in TDOC. This model allows designers to quickly estimate TDOC for new rotorcraft early in the design process, before many of the major design parameters have been finalized. In addition to the aggregate or total DOC models, regression models for a few key subcategories of DOC are developed including, fuel related DOC, airframe maintenance related DOC and engine maintenance related DOC. In the case of fuel related and airframe maintenance related DOC, the maximum takeoff gross weight is found to be the single strongest explanatory variable. For the engine maintenance DOC, the engine weight is found to be the single variable most strongly correlated with operating cost. We conclude that an appropriate measure of weight (maximum takeoff gross weight or engine weight) is an important driver for direct operating cost. After accounting for weight, the models are refined by considering additional explanatory variables leading to models of greater accuracy and complexity. The modular nature of the model presented allows operating cost estimates to be improved and refined as additional details of the rotorcraft design become available during the design process.<br>by Michael P. Giansiracusa.<br>M.B.A.<br>S.M.
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Pilster, Ulrich Hans-Christian Kaspar. "Regime type, civil-military relations, leaders, and multilateral military operations." Thesis, University of Essex, 2011. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.542347.
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Hodges, David J., and Robert E. Lee Rowland. "Finding the right indigenous leader and force for counterinsurgency operations." Monterey, California. Naval Postgraduate School, 2011. http://hdl.handle.net/10945/10621.
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In recent decades, insurgents and other nonstate actors with their nontraditional styles of warfare have become significant threats to the U.S. and its allies. Failing to draw lessons from past conflicts has been a root cause of the misguided strategies implemented against insurgents in both Iraq and Afghanistan. Combating these insurgencies using a military-heavy strategy has proved to be a drain on both the U.S. economy as well as the military forces that have shared the burden of deployments since the onset of operations Enduring Freedom and Iraqi Freedom. As a result, the U.S. should consider alternative strategies for dealing with insurgents that are both more tactically sound and less taxing on the economy and military. Using special operations forces (SOF) to establish local indigenous security forces in under-governed areas is one means of accomplishing this goal. This thesis focuses on the importance of choosing the right indigenous leader and force for U.S. SOF to partner with to defeat insurgents through the establishment of security, governance, and development at the grassroots level. A step-by-step process is described in this thesis that will assist SOF units in choosing the best local indigenous force leader (LIFL) and training him and his force. Also discussed is the importance of maintaining that partnership until the LIFL and his force are capable of operating on their own, and lines of support and communication have been opened with higher levels of the host nation government.
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Sham, Gregory C. (Gregory Chi-Keung). "Developing a data-driven approach for improving operating room scheduling processes." Thesis, Massachusetts Institute of Technology, 2012. http://hdl.handle.net/1721.1/73397.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division; in conjunction with the Leaders for Global Operations Program at MIT, 2012.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (p. 52).<br>In the current healthcare environment, the cost of delivering patient care is an important concern for hospitals. As a result, healthcare organizations are being driven to maximize their existing resources, both in terms of infrastructure and human capital. Using a data-driven approach with analytical techniques from operations management can contribute towards this goal. More specifically, this thesis shows, drawing from a recent project at Beth Israel Deaconess Medical Center (BIDMC), that predictive modeling can be applied to operating room (OR) scheduling in order to effectively increase capacity. By examining the current usage of the existing block schedule system at BIDMC and developing a linear regression model, OR time that is expected to go unused can be instead identified in advance and freed for use. Sample model results show that it is expected to be operationally effective by capturing a large enough portion of OR time for a pooled set of blocks to be useful for advanced scheduling purposes. This analytically determined free time represents an improvement in how the current block system is employed, especially in terms of the nominal block release time. This thesis makes the argument that such a model can integrate into a scheduling system with more efficient and flexible processes, ultimately resulting in more effective usage of existing resources.<br>by Gregory C. Sham.<br>S.M.<br>M.B.A.
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Von, Erlach Burkhart. "Public law aspects of lease, charter and interchange of aircraft in international operations." Thesis, McGill University, 1990. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=59586.
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Lease, charter and interchange have become more and more important throughout the last decades. The International Civil Aviation Organization could not ignore that reality. In 1980 after a long preparatory work Article 83bis, an amendment to the Chicago Convention on International Civil Aviation was adopted by the 23rd Assembly without any negative votes. Yet, in 1990, this amendment, which enables the State of Registry, which is responsible for the operation of the aircraft even if flying with an operator of another state, to transfer its functions and duties to the State of the Operator.<br>This thesis takes a closer look on the history of that amendment. The reasons why Article 83bis is still not in force shall also be discussed. An attempt shall further be made to analyze the provisions of Article 83bis more thoroughly and to explain why states should no longer hesitate to ratify that amendment. Article 83bis has no controversial content and is very important for the safety of international air transportation, in establishing clearly who is responsible for a leased, chartered or interchanged aircraft.
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Frauenberger, Douglas H. "Lean transformation in aerospace assembly operations." Thesis, Massachusetts Institute of Technology, 2007. http://hdl.handle.net/1721.1/39728.
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Thesis (S.M.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering; and, (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; in conjunction with the Leaders for Manufacturing Program at MIT, 2007.<br>Includes bibliographical references (p. 81-82).<br>For the past two decades, virtually all manufacturing companies in the United States have adopted or are in the process of adopting lean manufacturing. Globalization has resulted in the increased availability of reliable, low cost sources putting greater pressures on traditional US manufacturing companies to reduce costs. The need to successfully transform to lean has only grown in importance in this new operating environment, resulting in renewed focus on such initiatives in the United States. This thesis discusses various approaches to lean manufacturing with reference to specific examples from both academia and industry. In particular, lean transformation efforts in Mitchell Engine Company's* Final Assembly Plant will be provided as a case study. Focus on the JP-3525 fan case assembly cell provides specific examples on how shop floor improvements, assembly cell redesign, and flow can improve process cycle time and decrease variability. The direct result of this work has been a 15% decrease in cycle time and a 100% decrease in variability in the JP-3525 fan case assembly cell. Finally, the role front-line supervisors play in change initiatives will be introduced, discussing the position from both management and labor perspectives. Based on past research, recommendations will be made on how to improve cell leader effectiveness, recognizing these changes require systemic change within the organization.<br>by Douglas H. Frauenberger.<br>M.B.A.<br>S.M.
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Arbogast, Matthew Stephen. "Leader Behavior Portfolios." Scholar Commons, 2016. http://scholarcommons.usf.edu/etd/6458.
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Existing leadership theories and applied resources contain bountiful lists of recommended behaviors for leaders to employ, yet an integrated model that produces the most efficient set of leader behaviors does not currently exist. A standard, quantitative method to compare and contrast leader behaviors is needed to siphon utility from each resource, leading to an integrated and diversified set of optimal behaviors for leaders to consider. Leaders have limited time and need a reliable method to make informed behavioral decisions that consistently produce the most positive effects on the desired outcome. Unfortunately, leaders do not have the time to sift through the plethora of literary resources to uncover an optimal list of behavioral options. Leaders need to know what behavior to employ, when to employ it, the expected outcome, and the potential risk. Interestingly, these behavioral variables are also common to investors in the financial arena, where the principles of Modern Portfolio Theory (MPT) are often used to decipher the most optimal portfolio from a daunting list of investment options. The primary purpose of this study was to adopt some of the basic principles behind MPT in order to propose a similar quantitative Leader Behavior Portfolio Model, which determines an integrated and optimal set of effective leader behaviors. During this research, the proposed model was populated with archival performance data on over 5,000 cadets at the United States Military Academy. The outputs were then used to construct and administer surveys to 255 ROTC cadets in order to validate the model. The results of the survey response data were consistent with the outputs from the Leader Behavior Portfolio Model, showing strong support for adopting the principles of MPT to create an optimal set of leader behaviors.
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Li-Carrillo, Carla (Li-Carrillo Paredes). "Optimal staffing recommendation for inbound operations." Thesis, Massachusetts Institute of Technology, 2017. http://hdl.handle.net/1721.1/111938.
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Thesis: S.M., Massachusetts Institute of Technology, Department of Mechanical Engineering, in conjunction with the Leaders for Global Operations Program at MIT, 2017.<br>Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, in conjunction with the Leaders for Global Operations Program at MIT, 2017.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (page 72).<br>Amazon inbound operations are staffed following a 'staffing-to-charge' model in which labor is planned to match the incoming volume capacity required by the weekly Sales Operations Planning (S&OP) forecast. Staffing-to-charge is a lean model of staffing that attempts to maximize labor utilization by minimizing the possibility of a labor surplus or deficit. However, due to inaccuracies in the S&OP freight forecast, poor visibility into incoming inventory, and last minute staffing changes, it is often the case that labor capacity is not adequately aligned with the actual unit receipts. This leads to additional labor costs and network inefficiencies. This project explored the current staffing policies and current system constraints such as forecast accuracy, backlog management, and hiring schedules to understand the scope of the problem. From these findings, an alternate method for staffing, known as 'Level loading,' was proposed. Level loading consists of staffing to a known and consistent headcount every day of the week with the intent to reduce staffing costs and labor capacity variability. Level loading was found to improve the efficiency of inbound operations, leading to considerable costs savings for the distribution center. The project also created an optimization model that allows Fulfillment Center managers to plan the transition from their current shifts to level loading; Amazon's Production Planning Team will implement this model by mid-2017. To fully achieve the benefits from level loading, the system requires a change in the planning of incoming freight. In particular, the incoming freight should be scheduled and planned according to a known labor capacity, as set by the level loading policy. This change to freight planning is currently being investigated. The study found that delayed restocking of the network is a costly inefficiency, similar in magnitude to the cost from excess labor capacity. To mitigate this, a labor plan that allows for greater capacity is necessary. The cost savings of more effective inbound operations offsets the additional labor costs of such a plan. The findings of this study are based on an Amazon warehouse, but a staffing model with greater labor capacity can be applied to inbound operations at any distribution center.<br>by Carla Li-Carrillo.<br>S.M.<br>M.B.A.
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Ye, Jacqueline Ming-Shih. "Improving maintenance operation through transformational outsourcing." Thesis, Massachusetts Institute of Technology, 2007. http://hdl.handle.net/1721.1/39682.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division; in conjunction with the Leaders for Manufacturing Program at MIT, 2007.<br>Includes bibliographical references (p. 40-42).<br>Outsourcing maintenance to third-party contractors has become an increasingly popular option for manufacturers to achieve tactical and/or strategic objectives. Though simple in concept, maintenance outsourcing is difficult in execution, especially in a cost-sensitive environment. This project examines the Full Service business under ABB Ltd to understand the key factors that drive the success of an outsourced maintenance operation. We present a qualitative causal loop diagram developed based on the case study of Kinleith Pulp and Paper Mill in New Zealand. The diagram describes the interconnections among various technical, economic, relationship, and humanistic factors and shows how cost-cutting initiatives can frequently undermine labor relationship and tip the plant into the vicious cycle of reactive, expensive work practices. The model also explains how Kinleith achieved a remarkable turnaround under ABB, yielding high performance and significant improvements in labor relations. A case study of Tasman Pulp and Paper Mill provides a contrasting case where success has been more difficult. Results point to the importance of creating sufficient resources ("slack") to implement improvement activities and pace implementation based on pre-existing dynamics on site.<br>by Jacqueline Ming-Shih Ye.<br>S.M.<br>M.B.A.
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Rosenfield, Todd A. "External operations portfolio analysis and segmentation." Thesis, Massachusetts Institute of Technology, 2014. http://hdl.handle.net/1721.1/92657.
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Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, 2014. In conjunction with the Leaders for Global Operations Program at MIT.<br>Thesis: S.M., Massachusetts Institute of Technology, Department of Mechanical Engineering, 2014. In conjunction with the Leaders for Global Operations Program at MIT.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (pages 61-62).<br>This thesis focuses on a medical device manufacturer, Company X, using a razor-and-blades business strategy, in which surgical instruments are offered to customers at little or no cost in order to facilitate the sale of certain implantable products that require the use of such instruments. It faces considerable challenges in managing the instrument supply chain. Company X is interested in better understanding its instrument portfolio through segmentation so that it can efficiently manage its supply chain with an appropriate supply chain strategy for each segment. This thesis deals with the development of a segmentation methodology that can be used to objectively rank and segment medical device products that do not directly generate sales revenues, but contribute to the revenues generated by a dependent class of products. A methodology was developed to rank and segment the instruments within Company X's instrument portfolio using criticality heuristics. The segments were then evaluated for opportunities for inventory reduction without harming service levels. In addition, a cost minimization decision tool was developed to determine the optimal amount of excess inventory that should be discarded when items subject to minimum order quantities. Using the segmentation methodology and the minimum order quantity decision tool, Company X can potentially reduce its inventory value by over 60%.<br>by Todd A. Rosenfield.<br>M.B.A.<br>S.M.
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Zhedzik, Artsiom. "Leasing a bankovní úvěr jako alternativy financování podnikových investic." Master's thesis, Vysoká škola ekonomická v Praze, 2011. http://www.nusl.cz/ntk/nusl-85226.
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The main goal of this thesis is to provide a general knowledge of the leasing as a form of asset financing compared to the loan, describe leasing and define its history, types and functions, define the legal and tax aspects of leasing. Another goal is to capture the forms of lease accounting and evaluate the leasing compared to the loan by way of examples using different methods.
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Burch, Gerald. "INTERACTIVE EMPATHY AND LEADER EFFECTIVENESS: AN EVALUATION OF HOW SENSING EMOTION AND RESPONDING WITH EMPATHY INFLUENCE CORPORATE LEADER EFFECTIVENESS." VCU Scholars Compass, 2013. http://scholarscompass.vcu.edu/etd/540.
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Empathy has been shown to be a very powerful social and work ability. This study surveyed 754 employees of a privately held eastern United States company, and incorporated annual performance evaluations to empirically link interactive empathy to leader performance of 102 leaders. Data was collected from the leader’s followers, peers, and supervisors and from self-report personality evaluations. The results of this study show that leaders that are willing to engage their followers with empathic displays are seen as better leaders from their supervisors and have more engaged employees. Other contributions of this study include validation of the interactive empathy scale in a corporate environment and empirical support to show how interactive empathy adds incremental explanatory power of leader’s performance above and beyond that explained by personality. Directions for future research and practical implications of these results are also offered.
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Frolov, Igor. "Porovnání leasingového a úvěrového financování dlouhodobého majetku." Master's thesis, Vysoká škola ekonomická v Praze, 2009. http://www.nusl.cz/ntk/nusl-9919.
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The main purpose of this diploma thesis is to provide a general overview of the three types of fixed assets financing -- long-term bank loan, capital lease and operating lease; their general description, definition and typology, mainly from the accounting standpoint of view in appliance with the International Financial Reporting Standards. Close attention is also paid to their comparison and outlining their main qualitative and quantitative benefits and disadvantages. The last part of the thesis includes a case study that implements quantitative comparison of the three types of assets financing and their accounting according to the theoretical material contained in the preceding chapters.
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Ogundele, Tope (Temitope). "Alternative fulfillment operations and vendor analysis." Thesis, Massachusetts Institute of Technology, 2013. http://hdl.handle.net/1721.1/81009.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Engineering Systems Division; in conjunction with the Leaders for Global Operations Program at MIT, 2013.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references.<br>This thesis describes the development of quantitative methods to strategically plan the SKU make-up and operational aspects of Amazon's Alternative Fulfillment Sites (AFS). AFSs are smaller Fulfillment Centers (FCs) that have a more focused set of SKUs. By focusing on a smaller subset, complexity and costs are reduced at these sites at the expense of the larger assortment of products seen at traditional FCs. Because of these tradeoffs, choosing what items to provide at each site is very important in the expansion of this program. To determine the appropriate SKUs for AFSs, it was necessary to identify the relevant costs of fulfilling items through three fulfillment methods: Drop Shipping, Traditional Amazon Fulfillment Centers and Alternative Fulfillments sites. Understanding the relationship between the quantity fulfilled and the total costs for each fulfillment option provided guidance on which new products should be introduced to AFSs. As for the operation of sites, analysis of the process takt time at current AFS sites was performed. By separating products into Size Categories, rates could be determined and used to estimate process rates for new products. With a given forecast, this information was used to determine the number of associates required to fulfill the demand at these sites. In addition, product dimensions and forecasts were used to determine the total square footage to hold inventory and provide enough work space for these sites.<br>by Tope Ogundele.<br>S.M.<br>M.B.A.
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Ding, Shile. "Optimizing Verizon distribution center and logistics operations." Thesis, Massachusetts Institute of Technology, 2018. http://hdl.handle.net/1721.1/118019.
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Thesis: M.B.A., Massachusetts Institute of Technology, Sloan School of Management, in conjunction with the Leaders for Global Operations Program at MIT, 2018.<br>Thesis: S.M., Massachusetts Institute of Technology, Department of Mechanical Engineering, in conjunction with the Leaders for Global Operations Program at MIT, 2018.<br>Cataloged from PDF version of thesis.<br>Includes bibliographical references (pages 77-79).<br>The recent surge of direct-to-customer (DTC) orders in the retail industry has increasingly put pressure on omni-channel retailers' supply chain networks to offer faster and cheaper delivery while maintaining their supply chain cost position and committed service level agreements. As warehousing and logistics operations are not part of the core business for most omni-channel retailers, both operations are often outsourced to third-party logistics (3PL) companies. This makes it challenging for omni-retailers to actually improve these operations to handle the surging DTC orders through the relationships with their 3PL partners. This thesis presents cost analysis frameworks for improving the effectiveness of warehousing and logistics cost structures in outsourced omni-channel retail distribution networks. The thesis also conveys short-term and long-term strategy recommendations for reducing supply chain costs of these networks through a case study based on Verizon's retail supply chain network. First, a short-term strategy is proposed through leveraging the key cost drivers identified in a should-cost model developed to simulate receiving, pick-pack, and verification operations in distribution centers (DCs) based on a set of parameter inputs, such as volume, labor rate, labor standard time, facility location, staffing strategy, etc. This zero-based should-cost modeling technique can help the hiring company enhance their bargaining power in contract negotiation with 3PL companies in order to realize cost savings and collaborate on implementing new technologies. Second, a long-term strategy is formed to provide frameworks for omni-channel retailers to reconsider the pros and cons of outsourcing and to think of building sustainable and collaborative relationships with 3PL companies for the coming challenges in the omni-channel retail industry. The recommended execution plan is to stay with a centralized DC model and transition to partnering with capable 3PL service providers to pool ground shipments in order to achieve zone-skipping before the last mile delivery for the future.<br>by Shile Ding.<br>M.B.A.<br>S.M.
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Lennox, Kevin Michael. "Implementing pull production within an aerospace assembly operation." Thesis, Massachusetts Institute of Technology, 2006. http://hdl.handle.net/1721.1/37241.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Dept. of Mechanical Engineering; in conjunction with the Leaders for Manufacturing Program at MIT, 2006.<br>Includes bibliographical references (leaf 42).<br>This thesis presents a detailed analysis of lean implementation at Hamilton Sundstrand, a global supplier of technologically advanced aerospace and industrial products. The main objective of the internship was to convert from a push system, where orders are expedited and scheduled at multiple points in the process, to a pull system driven by a bin size or finished goods supermarket. Some of the key issues addressed include system design for highly variable processes, experimentation with various forms of Kanban, and the use of value stream mapping as a change management tool. This thesis is divided into two separate projects, both directly related to pull production. The first assignment was to redesign a subassembly process to improve fulfillment at the downstream assembly operation. Broader in scope, the second task involved implementation of a constant work-in-process scheduling system or CONWIP. Each project was designed and executed through value stream mapping and continuous improvement. The following discussion focuses on both strategic and tactical challenges of lean transformation because analysis and implementation were equally important throughout the internship.<br>by Kevin Michael Lennox.<br>S.M.<br>M.B.A.
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Villa, Adam Daniel. "Lean transformation methodology and implementation in biopharmaceutical operations." Thesis, Massachusetts Institute of Technology, 2008. http://hdl.handle.net/1721.1/44322.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Dept. of Chemical Engineering; in conjunction with the Leaders for Manufacturing Program at MIT, 2008.<br>Includes bibliographical references (p. 77-78).<br>Amgen's Operations division is responsible for the production, release and distribution of commercial and clinical products. Due to industry consolidation, impending competition and revenue impacts, Amgen is facing the need to rapidly improve the Operations division and align different manufacturing sites. In order to achieve these goals, the Operations Improvement group is leading an initiative to bring about a lean transformation of Amgen's operations.This thesis analyzes the initial operational excellence efforts underway within Amgen Operations. The analysis includes an overview of the process by which the continuous improvement methodology and strategy were constructed, the creation of a training curriculum and the initial implementation of the continuous improvement methodology at specific manufacturing sites. In addition, the thesis explores the environment in which this program operates and the cultural and business drivers that support and detract from the efforts.The following conclusions were developed as a result of the analysis of the lean transformation efforts at Amgen. First, company and industry specific nomenclature is essential to make lean principles contextually relevant for the biopharmaceutical industry. Additionally, relevant metrics are needed to facilitate multi-site alignment and drive the desired behavior. Finally, continuous improvement efforts can effectively leverage a science-based culture by applying it to a new business context.<br>by Adam Daniel Villa.<br>S.M.<br>M.B.A.
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Heiney, John P. (John Patrick). "Optimization of preclinical profiling operations in drug discovery." Thesis, Massachusetts Institute of Technology, 2007. http://hdl.handle.net/1721.1/39595.
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Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management; and, (S.M.)--Massachusetts Institute of Technology, Dept. of Chemical Engineering; in conjunction with the Leaders for Manufacturing Program at MIT, 2007.<br>Includes bibliographical references (p. 55-56).<br>In early-stage drug discovery, thousands of compounds must be tested using in vitro assays to determine their exposure and safety characteristics. This data is used to guide the selection of potential drug candidates and to help chemists in optimize the properties of those compounds. At Novartis, an internal service organization called Preclinical Compound Profiling (PCP) provides these services to the company as a whole. The purpose of this internship was to help PCP make significant improvements in cycle time and cost effectiveness without reducing the quality of information provided to their customers. The project utilized a series of deterministic and stochastic models to predict the impact of multiple operational changes on cost and cycle time. The data from each model was synthesized to create a unified view allowing combinations of changes to be analyzed together. This data was evaluated in the context of the customer needs and organizational strategy to present recommendations. Changes were implemented that will reduce materials spending by $500,000 per year while simultaneously increasing capacity, reducing cycle time, and improving customer value. Additional recommendations were developed that will enable further improvements.<br>by John P. Heiney.<br>S.M.<br>M.B.A.