嘉　宾：Vinod Singhal  Charles W. Brady Family Chaired Professor

               the Scheller College of Business at Georgia Institute of Technology

主持人：李  垣  讲席教授  上海交通大学安泰经济与管理学院

时　间：2025年01月15日（周三）10:00-11:30

地　点：上海交通大学 徐汇校区安泰经济与管理学院A305

内容简介: 

The bullwhip effect (BWE) is an important phenomenon in the operations and supply chain management field. Although it is commonly accepted that the BWE is widespread and can have a significant adverse impact on financial performance, there is surprisingly limited objective evidence on the financial consequences of the BWE. This paper examines the impact of the BWE on financial performance by examining the relationship between the BWE and stock price performance. The empirical analysis is based on data from 1985 to 2018 from about 7,200 publicly traded firms and about 64,000 firm-years. We find that most results on the impact of the BWE on stock returns are statistically indistinguishable from zero. The few marginally significant results that we find suggest a positive relationship between the BWE and stock returns rather than the expected negative relationship. However, these marginally significant results do not hold when alternate methods are used to test the relationships. These conclusions are robust when we segment the sample by size, industry, and time periods. We also do not find a significant relationship between the BWE and stock returns for samples based on the propagation of the BWE from customers to suppliers. We do find some evidence to suggest that the BWE has a negative impact on inventory turnover. However, we do not find similar evidence for capacity utilization. The relationships between the BWE and return on assets measures are statistically insignificant. For margin measures, the relationships are positive and statistically significant but not economically significant.

演讲人简介：

Vinod Singhal is the Charles W. Brady Family Chaired Professor of Operations Management at the Scheller College of Business at Georgia Institute of Technology, Atlanta, USA.  He has a Bachelors in Mechanical Engineering from BITS, Pilani, India; MBA from IIM Ahmedabad, India; and Ph.D. from University of Rochester; Rochester, USA.  Prior to joining Georgia Tech., he worked for three years as a Senior Research Scientist at General Motors Research Labs.

Vinod‘s research has focused on the impact of operating decisions on accounting and stock market based performance measures. His research has been supported through grants from the US Department of Labor, National Science Foundation, the American Society of Quality, and the Sloan Foundation. He has published extensively in academic journals and has made more than 120 presentations at different universities.  His research has been recognized in the practitioner community through his many articles in industry-practitioner journals and frequent invited presentations as keynote speaker at practitioner conferences. His work has been cited well over 200 times in practitioner publications such as Business Week, The Economist, Fortune, Smart Money, CFO Europe, Financial Times, Investor‘s Business Daily, and Daily Telegraph.  

Vinod is a Departmental Editor of Production and Operations Management, and Associate Editor of Journal of Operations Management, Management Science, and Manufacturing and Service Operations Management.  He is on the Academic Advisory Board of the European School of Management and Technology, Germany.  He has served on the Board of Examiners of the Georgia Oglethorpe Award, Bell South‘s President Quality Award, and the Baldrige Award.  

Vinod has contributed to the Georgia Tech. community in terms of teaching and service.  Vinod‘s teaching interests include operations strategy and supply chain management.  At the Scheller College of Business, Vinod has taught at the undergraduate, MBA, executive, and PhD programs and has won teaching awards at the MBA level.  His contributions to curriculum development are diverse and deep including those made while serving as Associate Dean of MBA Programs and area coordinator of Operations Management. He has contributed to teaching at an international level, as well, by offering workshops and advising faculty and PhD students on how to enhance the quality and impact of their research in countries including Australia, China, France, New Zealand, and Singapore, and United Kingdom.

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