A Quantitative Model for Decomposing & Assessing the Value for the Customer

The research presented in this paper proposes a novel quantitative model for decomposing and assessing the Value for the Customer. The proposed approach builds on the different dimensions of the Value Network analysis proposed by Verna Allee having as background the concept of Value for the Customer proposed by Woodall. In this context, the Value for the Customer is modelled as a relationship established between the exchanged deliverables and a combination of tangible and intangible assets projected into their endogenous or exogenous dimensions. The Value Network Analysis of the deliverables exchange enables an in-depth understanding of this frontier and the implicit modelling of co-creation scenarios. The proposed Conceptual Model for Decomposing Value for the Customer combines several concepts: from the marketing area we have the concept of Value for the Customer; from the area of intellectual capital the concept of Value Network Analysis; from the collaborative networks area we have the perspective of the enterprise life cycle and the endogenous and exogenous perspectives; at last, the proposed model is supported by a mathematical formal description that stems from the area of Multi-Criteria Decision Making. The whole concept is illustrated in the context of a case study of an enterprise in the footwear industry (Pontechem). The merits of this approach seem evident from the contact with Pontechem as it provides a structured approach for the enterprises to assess the adequacy of their value proposition to the client/customer needs and how these relate to their endogenous and/or exogenous tangible or intangible assets. The proposed model, as a tool, may therefore be a useful instrument in supporting the commercialisation of new products and/or services.

Universal banks and corporate control: Evidence from the global syndicated loan market

We investigate the effects of bank control over borrower firms whether by representation on boards of directors or by the holding of shares through bank asset management divisions. Using a large sample of syndicated loans, we find that banks are more likely to act as lead arrangers in loans when they exert some control over the borrower firm. Bank-firm governance links are associated with higher loan spreads during the 2003-2006 credit boom, but lower spreads during the 2007-2008 financial crisis. Additionally, these links mitigate credit rationing effects during the crisis. The results are robust to several methods to correct for the endogeneity of the bank- firm governance link. Our evidence, consistent with intertemporal smoothing of loan rates, suggests there are costs and benefits from banks’ involvement in firm governance.

An investigation of customer order flow in the foreign exchange market

This paper examines the effect that heterogeneous customer orders flows have on exchange rates by using a new, and the largest, proprietary dataset of weekly net order flow segmented by customer type across nine of the most liquid currency pairs. We make several contributions. Firstly, we investigate the extent to which customer order flow can help to explain exchange rate movements over and above the influence of macroeconomic variables. Secondly, we address the issue of whether order flows contain (private) information which explain exchange rates changes. Thirdly, we look at the usefulness of order flow in forecasting exchange rate movements at longer horizons than those generally considered in the microstructure literature. Finally we address the question of whether the out-of-sample exchange rate forecasts generated by order flows can be employed profitably in the foreign exchange markets

Web-based Implementation of Winter Maintenance Decision Support System Using GIS and Remote Sensing, May 2005

Winter maintenance, particularly snow removal and the stress of snow removal materials on public structures, is an enormous budgetary burden on municipalities and nongovernmental maintenance organizations in cold climates. Lately, geospatial technologies such as remote sensing, geographic information systems (GIS), and decision support tools are roviding a valuable tool for planning snow removal operations. A few researchers recently used geospatial technologies to develop winter maintenance tools. However, most of these winter maintenance tools, while having the potential to address some of these information needs, are not typically placed in the hands of planners and other interested stakeholders. Most tools are not constructed with a nontechnical user in mind and lack an easyto-use, easily understood interface. A major goal of this project was to implement a web-based Winter Maintenance Decision Support System (WMDSS) that enhances the capacity of stakeholders (city/county planners, resource managers, transportation personnel, citizens, and policy makers) to evaluate different procedures for managing snow removal assets optimally. This was accomplished by integrating geospatial analytical techniques (GIS and remote sensing), the existing snow removal asset management system, and webbased spatial decision support systems. The web-based system was implemented using the ESRI ArcIMS ActiveX Connector and related web technologies, such as Active Server Pages, JavaScript, HTML, and XML. The expert knowledge on snow removal procedures is gathered and integrated into the system in the form of encoded business rules using Visual Rule Studio. The system developed not only manages the resources but also provides expert advice to assist complex decision making, such as routing, optimal resource allocation, and monitoring live weather information. This system was developed in collaboration with Black Hawk County, IA, the city of Columbia, MO, and the Iowa Department of transportation. This product was also demonstrated for these agencies to improve the usability and applicability of the system.

Iowa Department of Transportation Performance Results Achieved for Fiscal Year 2009

The DOT monitors performance of five core functions, under which are eight services, products and activities (SPAs). In all, 56 measures are used to monitor the core functions and SPAs in the DOT’s performance plan. (See Iowa DOT Performance Report – FY2009, pages 1A-9A.) Overall, DOT’s performance was good in fiscal year 2009. Of the 56 measures in the DOT’s performance plan, 43 measures (77%) met or exceeded their targets. Of the 13 measures falling short, ten were within four percent of their target. This means 95 percent of DOT measures met or exceeded 96 percent of their preset target. Performance measures monitoring the core functions of Physical Asset Management and Resource Management showed the DOT did a good job managing resources. A total of 11 of the 14 (79%) core function and SPA measures met or exceeded their predetermined targets. Two of the three measures falling short were within four percent of its target. Core function and SPA measures within the Transportation Systems core function indicated good performance. A total of 22 of the 30 (73%) core function and SPA measures met or exceeded their predetermined targets. Overall, six of the eight measures falling short were within four percent of their target. Performance measures monitoring the core functions of Enforcement and Investigation and Regulation and Compliance showed the DOT performed well. A total of 10 of the 12 (83%) core function and SPA measures met or exceeded their predetermined targets. Both of the measures falling short were within four percent of their target.

Midwest Transportation Consortium Annual Report, 2004-2005

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Midwest Transportation Consortium Annual Report, 2005-2006

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Midwest Transportation Consortium Annual Report, 2006-2007

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Midwest Transportation Consortium Annual Report, 2007-2008

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Midwest Transportation Consortium Annual Report, 2009

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Midwest Transportation Consortium Annual Report, 2010

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Midwest Transportation Consortium Annual Report, 2011

The Midwest Transportation Consortium (MTC) recently completed its sixth year of operation. The MTC has become an established portion of the research and educational programs at ISU and its partner universities. The MTC continues to emphasize its primary focus of developing human capital. For example, this semester, Fall, 2005, ISU has graduate scholars in its educational program. However, we also recognize that the federal grant is an opportunity to build programs at our respective universities that continue after the U.S. DOT UTCP may end. An example of building a long lasting program is the University of Missouri – St. Louis’ (UMSL) and its development of a transportation Ph.D. program in their business college. Admittedly, this program could have been started regardless, but Dr. Ray Mundy, Director of UMSL’s Transportation Scholars Program, believes that the MTC support of the transportation educational program at UMSL was the essential component in establishing a Ph.D. program. At ISU, the MTC has been instrumental in establishing two research and outreach programs, and both have themes that are related to the MTC’s theme of “Transportation System Management and Operation.” The Center for Weather Impacts on Mobility and Safety (C-WIMS) was recently established, and the Center for Road Infrastructure Management and Operations (RIMO) is in the process of being established. The MTC has a critical role in establishing each of these two programs. As part of the on-going MTC program, we have established an effective network that promotes the education of future transportation professionals and the development of new knowledge on how to manage transportation infrastructure and services in a more sustainable manner. The MTC has a track record of developing outstanding students; these students are now becoming leaders in the private sector, government, and academia. The MTC has also supported the development of an extensive research portfolio related to sustainable transportation asset management. More research projects are in the pipeline. Finally, the MTC has dedicated itself to the dissemination of asset management research results through an ongoing technology transfer program. This document provides a progress for the latest fiscal year of operation of the MTC, which ran from October 2004 through September 2005.

Roadway Alignments as Assets: Evaluating Alternatives for Valuing Major Highway Corridor Rights of Way Final Report December 2010 Sponsored

In most highway asset management exercises, real estate used in alignments is considered to be an asset class that does not depreciate. Although the treatment of right of way assets as non-depreciable real property may be appropriate as an accounting exercise, the fact is that the real estate contained in transportation corridors can in fact lose value from a traffic service point of view. Such facilities become functionally obsolete in that they no longer serve the purpose that was intended when they were planned, designed, and built. This report is intended to begin a discussion of the topic of how highway alignments ought be valued as assets as opposed to how they generally are valued, at either book value or replacement value, given it can be shown that some highway alignments do in fact depreciate in value.

Improving the Accuracy and Usability of Iowa Falling Weight Deflectometer Data, May 2013

This study aims to improve the accuracy and usability of Iowa Falling Weight Deflectometer (FWD) data by incorporating significant enhancements into the fully-automated software system for rapid processing of the FWD data. These enhancements include: (1) refined prediction of backcalculated pavement layer modulus through deflection basin matching/optimization, (2) temperature correction of backcalculated Hot-Mix Asphalt (HMA) layer modulus, (3) computation of 1993 AASHTO design guide related effective SN (SNeff) and effective k-value (keff ), (4) computation of Iowa DOT asphalt concrete (AC) overlay design related Structural Rating (SR) and kvalue (k), and (5) enhancement of user-friendliness of input and output from the software tool. A high-quality, easy-to-use backcalculation software package, referred to as, I-BACK: the Iowa Pavement Backcalculation Software, was developed to achieve the project goals and requirements. This report presents theoretical background behind the incorporated enhancements as well as guidance on the use of I-BACK developed in this study. The developed tool, I-BACK, provides more fine-tuned ANN pavement backcalculation results by implementation of deflection basin matching optimizer for conventional flexible, full-depth, rigid, and composite pavements. Implementation of this tool within Iowa DOT will facilitate accurate pavement structural evaluation and rehabilitation designs for pavement/asset management purposes. This research has also set the framework for the development of a simplified FWD deflection based HMA overlay design procedure which is one of the recommended areas for future research.

Improving the Accuracy and Usability of Iowa Falling Weight Deflectometer Data: Tech Transfer Summary, May 2013

This study aims to improve the accuracy and usability of Iowa Falling Weight Deflectometer (FWD) data by incorporating significant enhancements into the fully-automated software system for rapid processing of the FWD data. These enhancements include: (1) refined prediction of backcalculated pavement layer modulus through deflection basin matching/optimization, (2) temperature correction of backcalculated Hot-Mix Asphalt (HMA) layer modulus, (3) computation of 1993 AASHTO design guide related effective SN (SNeff) and effective k-value (keff ), (4) computation of Iowa DOT asphalt concrete (AC) overlay design related Structural Rating (SR) and kvalue (k), and (5) enhancement of user-friendliness of input and output from the software tool. A high-quality, easy-to-use backcalculation software package, referred to as, I-BACK: the Iowa Pavement Backcalculation Software, was developed to achieve the project goals and requirements. This report presents theoretical background behind the incorporated enhancements as well as guidance on the use of I-BACK developed in this study. The developed tool, I-BACK, provides more fine-tuned ANN pavement backcalculation results by implementation of deflection basin matching optimizer for conventional flexible, full-depth, rigid, and composite pavements. Implementation of this tool within Iowa DOT will facilitate accurate pavement structural evaluation and rehabilitation designs for pavement/asset management purposes. This research has also set the framework for the development of a simplified FWD deflection based HMA overlay design procedure which is one of the recommended areas for future research.