Search results for: business failure

Authors: M. Abbasi

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A spillway structure is used to pass excess water and floods from upstream or upstream to downstream or tributary. The spillway is considered one of the most key members of the dam, and the failure of many dams is attributed to the inefficiency of their spillway. Weirs should be selected as strong, reliable and high-performance structures, and weirs should be ready for use in all conditions and able to drain the flood so that we do not witness many casualties and financial losses when a flood occurs. The purpose of this study is to simulate the flow pattern passing over the peak spillway in order to optimize and adjust the height of the spillway walls. In this research, the effect of the shape of the side wings on the flow pattern over the peak spillways of the Gotvand reservoir dam was simulated and modelled using Flow3D software. In this research, side wings with rounded walls with six different approach angles were used. In addition, the different value of H/Hd was used to check the effect of the tank head. The results showed that with the constant H/Hd ratio and the increase of the approach angle of the side wing, the flow depth first decreases and then increases. These changes were the opposite regarding the depth average speed of the flow and the depth average concentration of the air entering the flow. At the same time, with the constant angle of approach of the side wing and with the increase of H/Hd ratio, the flow depth increases. In general, a correct understanding of the operation of overflows and a correct design can significantly reduce construction costs and solve flooding problems.

Keywords: effect of the shape, gotvand reservoir dam, narrowing coefficients, supports of the gates

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Authors: Ruiyang Bi

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Natural rock masses are cut into rock blocks of different shapes and sizes by intersecting joints. These rock blocks often determine the mechanical properties of the rock mass. In this study, fine sandstone cube specimens were produced, and three intersecting joint cracks were cut inside the specimen. Uniaxial compression tests were conducted using mechanical tests and numerical simulation methods to study the mechanical properties and crack propagation mechanism of triangular blocks within the rock. During the test, the mechanical strength, acoustic emission characteristics and strain field evolution of the specimen were analyzed. Discrete element software was used to study the expansion of microcracks during the specimen failure process, and the crack types were divided. The simulation results show that as the inclination angles of the three joints increase simultaneously, the mechanical strength of the specimen first decreases and then increases, and the crack type is mainly shear. As the inclination angle of a single joint increases, the strength of the specimen gradually decreases. When the inclination angles of the two joints increase at the same time, the strength of the specimen gradually decreases. The research results show that the stability of the rock mass is affected by the joint inclination angle and the size of the cut blocks. The greater the joint dip and block size, the more significant the development of micro-cracks in the rock mass, and the worse the stability.

Keywords: rock joints, uniaxial compression, crack extension, discrete element simulation

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Authors: Xiang Jia, Zhijun Cheng

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The residual lifetime of a product is the operation time between the current time and the time point when the failure happens. The residual lifetime estimation is rather important in reliability analysis. To predict the residual lifetime, it is necessary to assume or verify a particular distribution that the lifetime of the product follows. And the two-parameter Weibull distribution is frequently adopted to describe the lifetime in reliability engineering. Due to the time constraint and cost reduction, a life testing experiment is usually terminated before all the units have failed. Then the censored data is usually collected. In addition, other information could also be obtained for reliability analysis. The expert judgements are considered as it is common that the experts could present some useful information concerning the reliability. Therefore, the residual lifetime is estimated for Weibull distribution by fusing the censored data and expert judgements in this paper. First, the closed-forms concerning the point estimate and confidence interval for the residual lifetime under the Weibull distribution are both presented. Next, the expert judgements are regarded as the prior information and how to determine the prior distribution of Weibull parameters is developed. For completeness, the cases that there is only one, and there are more than two expert judgements are both focused on. Further, the posterior distribution of Weibull parameters is derived. Considering that it is difficult to derive the posterior distribution of residual lifetime, a sample-based method is proposed to generate the posterior samples of Weibull parameters based on the Monte Carlo Markov Chain (MCMC) method. And these samples are used to obtain the Bayes estimation and credible interval for the residual lifetime. Finally, an illustrative example is discussed to show the application. It demonstrates that the proposed method is rather simple, satisfactory, and robust.

Keywords: expert judgements, information fusion, residual lifetime, Weibull distribution

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Authors: Christopher Reichstein, Ralf-Christian Härting, Martina Häußler

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With a continuously increasing speed of information exchange on the World Wide Web, retailers in the E-Commerce sector are faced with immense possibilities regarding different online purchase processes like dynamic price settings. By use of Dynamic Pricing, retailers are able to set short time price changes in order to optimize producer surplus. The empirical research illustrates the basics of Dynamic Pricing and identifies six influencing factors of Dynamic Pricing. The results of a structural equation modeling approach show five main drivers increasing the potential of dynamic price settings in the E-Commerce. Influencing factors are the knowledge of customers’ individual willingness to pay, rising sales, the possibility of customization, the data volume and the information about competitors’ pricing strategy.

Keywords: e-commerce, empirical research, experts, dynamic pricing (DP), influencing factors, potentials

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Authors: Jayeola Olabisi, T. Olawale Oladunjoye, Ademola A. Adewumi

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The study empirically examines the relationship that exists between the economic environment and entrepreneurial development in Nigeria. A structured questionnaire is administered on the study and data collected are analysed using Analysis of Variance and Regression. The following variables are indices of determination; Interest Rate (IR); Income Tax (IT). The results of the study show that there is a significant relationship between IR and ED in Nigeria (p < 0.5) with a positive correlation (r=0.526, r2=0.276). Also, there is a significant relationship between IT and ED in Nigeria (p < 0.05), with a positive association (r=0.546; r2=0.299). The study concludes that the emergence of the higher level of the stable economic environment is critical to entrepreneurial development in Nigeria. Therefore, government involvement in public private partnership for infrastructural development, enlargement of productive, judicious and transparent use of funds collected from income tax and affordable interest rate will galvanise the inward sourcing of raw materials that boost entrepreneurial development in Nigeria.

Keywords: interest rate, income tax, business environment and entrepreneurial development

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Authors: Sharmili Routray, Kishor Chandra Biswal

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The use of corrosion resistant fiber reinforced polymer (FRP) reinforcement is beneficial in structures particularly those exposed to deicing salts, and/or located in highly corrosive environment. Generally Glass, Carbon and Aramid fibers are used for the strengthening purpose of the structures. Due to the necessities of low weight and high strength materials, it is required to find out the suitable substitute with low cost. Recent developments in fiber production technology allow the strengthening of structures using Basalt fiber which is made from basalt rock. Basalt fiber has good range of thermal performance, high tensile strength, resistance to acids, good electro‐magnetic properties, inert nature, resistance to corrosion, radiation and UV light, vibration and impact loading. This investigation focuses on the effect of fibre content and fiber orientation of basalt fibre on mechanical properties of the fabricated composites. Specimen prepared with unidirectional Basalt fabric as reinforcing materials and epoxy resin as a matrix in polymer composite. In this investigation different fiber orientation are taken and the fabrication is done by hand lay-up process. The variation of the properties with the increasing number of plies of fiber in the composites is also studied. Specimens are subjected to tensile strength test and the failure of the composite is examined with the help of INSTRON universal testing Machine (SATEC) of 600 kN capacities. The average tensile strength and modulus of elasticity of BFRP plates are determined from the test Program.

Keywords: BFRP, fabrication, Fiber Reinforced Polymer (FRP), strengthening

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Authors: Penelope Paliadelis, Asheley Jones, Glenn Campbell

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This paper discusses the development of co-designed capability frameworks for two large multinational organizations led by a university department. The aim was to create evidence-based, integrated capability frameworks that could define, identify, and measure human skill capabilities independent of specific work roles. The frameworks capture and cluster human skills required in the workplace and capture their application at various levels of mastery. Identified capability gaps inform targeted learning opportunities for workers to enhance their employability skills. The paper highlights the value of this evidence-based framework development process in capturing, defining, and assessing desired human-focused capabilities for organizational growth and success.

Keywords: capability framework, human skills, work-integrated learning, credentialing, digital badging

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Authors: Puttharapong Sakulwaropas, Uraiwan Jaroengeratikun

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Casualty insurance business, the optimal premium pricing and adequate cost for an insurance company are important in risk management. Normally, the insurance pure premium can be determined by multiplying the claim frequency with the claim cost. The aim of this research was to study in the application of generalized linear models to select the risk factor for model of claim frequency and claim cost for estimating a pure premium. In this study, the data set was the claim of comprehensive motor insurance, which was provided by one of the insurance company in Thailand. The results of this study found that the risk factors significantly related to pure premium at the 0.05 level consisted of no claim bonus (NCB) and used of the car (Car code).

Keywords: generalized linear models, risk factor, pure premium, regression model

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Authors: Khadijah Hasim, Achmad Fauzan Firdaus, Choirunnisa

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Waqf land which previously was idle assets can be built on top of a building that is a means for people to conduct business. Nadzir (waqf managers) lease of waqf lands it manages, the agreed rental fee, which is payable in the form of the building, not in cash. After standing building, the developer will lease to interested companies. Given the magnitude of the beginning funds needed, The company later issuing sukuk al-intifa on the trading floor. With this sukuk issuance, the company has sufficient capital to begin operations and pay obligations of the rental fee to the developer each year. Building that had stood trade area will be established (Micro, Small, Middle Entreprises) MSMEs. It is expected that through the sukuk al-intifa, can help to make waqf land previously unproductive due to lack of capital to be very beneficial and help awaken the people of Indonesian MSMEs

Keywords: Sukuk Al-Intifa, MSMEs, waqf land, underlying asset

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Authors: Swee Guat Yeoh, Yung Ling Tseng

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Malaysia is comprised of three major ethnic groups: The Malay, Chinese and Indian as well as a small number of indigenous peoples. With the influences of the multiple races, Malaysia is a multi-cultural country. In the era of globalization, culture has become an important soft power for a race or a country. At the same time, it provides endless inspirational source of ideas for creative business. Although jewelries are decorative objects, they function and exist as the emblems of power, wealth and contract in certain cultural systems. In the meantime, they also record the lifestyle and ideology of everyday life. Therefore, in a creative cultural industry, jewelry with cultural aspects and cultural contents are deemed to be highly important. With the three major ethnic groups in Malaysia as objects, this research aims to find out the relationships between the cultures and decorations of the three major ethnic groups in the aspects of customs, religions and lifestyles.

Keywords: ethnicity, multi-cultural, jewelry, craft technique

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Authors: Fajar Ajie Setiawan, Ratu Azima Mayangsari, Bunga Aprilia

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The emergence of creative hubs around the world, including in Bandung, was primarily driven by the needs of collaborative-innovative spaces for creative industry activities such as the Maker Movement and the Coworking Movement. These activities pose challenges for identification and formulation of sets of indicators for modeling creative hubs in Bandung to help stakeholders in formulating strategies. This study intends to identify their characteristics. This research was conducted using a qualitative approach comparing three concepts of creative hub categorization and integrating them into a single instrument to analyze 12 selected creative hubs. Our results showed three new functions of creative hubs in Bandung: (1) cultural, (2) retail business, and (3) community network. Results also suggest that creative hubs in Bandung are commonly established for networking and community activities. Another result shows that there was a shifting pattern of creative hubs before the 2000s and after the 2000s, which also creates a hybrid group of creative hubs.

Keywords: creative industry, creative hubs, Ngariung, Bandung

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Authors: Iram Zahra

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Friction and wear properties of multilayer graphene coatings (MLG) on nickel substrate were investigated at the macroscale, and different failure mechanisms working at the interface of nickel-graphene coatings were evaluated. Multilayer graphene coatings were produced on a nickel substrate using the atmospheric chemical vapour deposition (CVD) technique. Wear tests were performed on the pin-on-disk tribometer apparatus under dry air conditions, and using the saltwater solution, distilled water, and mineral oil lubricants and counterparts used in these wear tests were fabricated of stainless steel, chromium, and silicon nitride. The wear test parameters such as rotational speed, wear track diameter, temperature, relative humidity, and load were 60 rpm, 6 mm, 22˚C, 45%, and 2N, respectively. To analyse the friction and wear behaviour, coefficient of friction (COF) vs time curves were plotted, and the sliding surfaces of the samples and counterparts were examined using the optical microscope. Results indicated that graphene-coated nickel in mineral oil lubrication and dry conditions gave the minimum average value of COP (0.05) and wear track width ( ̴151 µm) against the three different types of counterparts. In contrast, uncoated nickel samples indicated a maximum wear track width ( ̴411 µm) and COF (0.5). Thorough investigation and analysis concluded that graphene-coated samples have two times lower COF and three times lower wear than the bare nickel samples. Furthermore, mechanical failures were significantly lower in the case of graphene-coated nickel. The overall findings suggested that multilayer graphene coatings have drastically decreased wear and friction on nickel substrate at the macroscale under various lubricating conditions and against different counterparts.

Keywords: friction, lubricity, multilayer graphene, sliding, wear

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Authors: Elsaed Elsaed

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With the constant progress in our daily lives through information and communication technology and the presence of abundant in research activities in the hardware and software associated with them, and develop and improve their performance, but still there is a need to provide all combined solutions in one business. A systematic mapping study was conducted to investigate the contributions that have been prepared, and the areas of knowledge that are explored further, and any aspects of the research used to divide the common understanding of the latest technology in software engineering education. Which, we have categorized into a well-defined engineering framework. An overview of current research topics and trends and their distribution by type of research and scope of application. In addition, the topics were grouped into groups and a list of proposed methods and frameworks and tools was used. The map shows that the current research impact is limited to a few areas of knowledge are needed to map a future path to fill the gaps in the instruction activities.

Keywords: methodological maps, engineering education program, literature survey, communication technology

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Authors: Li-Hua Luu, Alexis Doghmane, Abbas Farhat, Mohammad Sanayei, Pierre Philippe, Pablo Cuellar

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Suction buckets are promising innovative foundations for offshore wind turbines. They generally feature the shape of an inverted bucket and rely on a suction system as a driving agent for their installation into the seabed. Water is pumped out of the buckets that are initially placed to rest on the seabed, creating a net pressure difference across the lid that generates a seepage flow, lowers the soil resistance below the foundation skirt, and drives them effectively into the seabed. The stability of the suction mechanism as well as the possibility of a piping failure (i.e., localized fluidization within the internal soil plug) during their installation are some of the key questions that remain open. The present work deals with an experimental study of localized fluidization by suction within a fixed bucket partially embedded into a submerged artificial soil made of spherical beads. The transient process, from the onset of granular motion until reaching a stationary regime for the fluidization at the embedded bucket wall, is recorded using the combined optical techniques of planar laser-induced fluorescence and refractive index matching. To conduct a systematic study of the piping threshold for the seepage flow, we vary the beads size, the suction pressure, and the initial depth for the bucket. This experimental modelling, by dealing with erosion-related phenomena from a micromechanical perspective, shall provide qualitative scenarios for the local processes at work which are missing in the offshore practice so far.

Keywords: fluidization, micromechanical approach, offshore foundations, suction bucket

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Authors: Zaiton Osman, Phang Ing, Azaze Azizi Abd Adis, Izyanti Awg Razli, Mohd Rizwan Abd Majid, Rosle Mohidin

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This study is conducted to investigate the level of financial literacy among students taking Financial Management and Banking in Universiti Malaysia Sabah, Malaysia. Students are asked to answer basic financial literacy questions in their first class before study commence and the similar questions were given in their final week of study (after 14 weeks of study duration). The comparison on their level of financial literacy will be examined. This study is expected to yields the following findings; firstly, comparison of the level of financial literacy 'before and after' courses in finance being introduced can be revealed. Secondly, it will provide suggestion on improving the standard of teaching and learning in financial management and banking courses and lastly it will help in identifying financial courses that are important in improving the level of financial literacy among students in Malaysia.

Keywords: financial literacy, university students, personal financial planning, business and management engineering

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Authors: Bian ChengXiang, Wang Qian

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With the deepening of the research on the connotation of cultural heritage and human geography, the cultural landscape takes landscape as a cultural product, integrates and blends cultural and natural heritage to explore the cultural value behind its material landscape. Qikou ancient town is a typical traditional settlement with a homomorphism of mountain and water veins. Its cultural accumulation and natural landscape play an important role in its development. Therefore, this paper will combine the material and cultural elements of Qikou ancient town to analyze the composition of the cultural landscape of the ancient town and explore the protection and utilization of the cultural landscape of Qikou ancient town from the four aspects of ecology, form, cultural form, and business form, so as to provide effective strategies for the development of the ancient town.

Keywords: four state, cultural landscape, ancient town, protection, development

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Authors: Prateep Wajeetongratana

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The objectives of the research were to examine that how management accounting techniques were perceived and used by companies listed on the stock exchange and to investigate similarities or differences of management accounting practices between companies listed on the stock exchange and Thai SMEs. Descriptive and inferential statistics were employed. The finding found that almost all of the companies used traditional management accounting techniques more than advanced management accounting techniques. Four management accounting techniques having no significant association with business characteristic were standard costing, job order costing, process costing. The barriers that Thai SMEs encountered were a lack of proper accounting system and the insufficient knowledge in management accounting of the accountants. The comparison results revealed that both companies listed on the stock exchange and Thai SMEs used traditional management accounting techniques more than advanced techniques.

Keywords: companies listed on the stock exchange, financial budget, management accounting, operating budget

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Authors: Tomáš Ludík, Jiří Barta, Josef Navrátil

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Natural or human made disasters have a significant negative impact on the environment. At the same time there is an extensive effort to support management and decision making in emergency situations by information technologies. Therefore the purpose of the paper is to propose a design patterns applicable in emergency management, enabling better analysis and design of emergency management processes and therefore easier development and deployment of information systems in the field of emergency management. It will be achieved by detailed analysis of existing emergency management legislation, contingency plans, and information systems. The result is a set of design patterns focused at emergency management processes that enable easier design of emergency plans or development of new information system. These results will have a major impact on the development of new information systems as well as to more effective and faster solving of emergencies.

Keywords: analysis and design, Business Process Modelling Notation, contingency plans, design patterns, emergency management

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Authors: Stanislovas Buteliauskas, Aušrius Juozapavičius

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City road transport contributes significantly to climate change, and the ongoing world urbanization is only increasing the problem. The paper describes a city planning concept minimizing the number of vehicles on the roads while increasing overall mobility. This becomes possible by utilizing a recently invented two-level road junction with a unique property of serving both as an intersection of uninterrupted traffic and an easily accessible transport hub capable of accumulating private vehicles, and therefore becoming an especially effective park-and-ride solution, and a logistics or business center. Optimized layouts of city road infrastructure, living and work areas, and major roads are presented. The layouts are suitable both for the development of new cities as well as for the expansion of existing ones. Costs of the infrastructure and a positive impact on climate are evaluated in comparison to current city growth patterns.

Keywords: congestion, city infrastructure, park-and-ride, road junctions

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Authors: Harris Maduku, Irrshad Kaseeram

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The objective of this paper is to understand the factors behind the formalisation willingness of South African black owned SMMEs. Cross-sectional data were collected using a questionnaire from 390 informal businesses in Johannesburg and Pretoria using stratified random sampling and clustered sampling. This study employed a multinomial logistic regression to quantitatively understand what encourages informal SMMEs to be willing to mainstreaming their operations. We find government support, corruption, employment compensation, family labour, success perception, education status, age and financing as key drivers on willingness of SMMEs to formalize their operations. The findings of our study points to government departments to invest more on both financial and non-financial strategies like capacity building and business education on informal SMMEs to cultivate their willingness to mainstream.

Keywords: mainstreaming, transition, informal, willingness, multinomial logit

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Authors: Hong Yu, Ion Matei

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Carbon fiber reinforced composites (CFRP) used as aircraft structure are subject to lightning strike, putting structural integrity under risk. Indirect damage may occur after a lightning strike where the internal structure can be damaged due to excessive heat induced by lightning current, while the surface of the structures remains intact. Three damage modes may be observed after a lightning strike: fiber breakage, inter-ply delamination and intra-ply cracks. The assessment of internal damage states in composite is challenging due to complicated microstructure, inherent uncertainties, and existence of multiple damage modes. In this work, a model based approach is adopted to diagnose faults in carbon composites after lighting strikes. A resistor network model is implemented to relate the overall electrical and thermal conduction behavior under simulated lightning current waveform to the intrinsic temperature dependent material properties, microstructure and degradation of materials. A fault detection and identification (FDI) module utilizes the physics based model and a particle filtering algorithm to identify damage mode as well as calculate the probability of structural failure. Extensive simulation results are provided to substantiate the proposed fault diagnosis methodology with both single fault and multiple faults cases. The approach is also demonstrated on transient resistance data collected from a IM7/Epoxy laminate under simulated lightning strike.

Keywords: carbon composite, fault detection, fault identification, particle filter

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Authors: M. G. Mattos, J. E. Pécora Jr, T. A. Briso

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Today's challenging business environment, with unpredictable demand and volatility, requires a supply chain strategy that handles uncertainty and risks in the right way. Even though inventory models have been previously explored, this paper seeks to apply these concepts on a practical situation. This study involves the inventory replenishment problem, applying techniques that are mainly based on mathematical assumptions and modeling. The primary goal is to improve the retailer’s supply chain processes taking store differences when setting the various target stock levels. Through inventory review policy, picking piece implementation and minimum exposure definition, we were able not only to promote the inventory reduction as well as improve sales results. The inventory management theory from literature review was then tested on a single case study regarding a particular department in one of the largest Latam retail chains.

Keywords: inventory, distribution, retail, risk, safety stock, sales, uncertainty

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Authors: Livhuwani Muthelo, R. N. Malema, T. M. Mothiba

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Long term exposure to excessive noise in the mining industry increases the risk of noise induced hearing loss, with consequences for employee’s health, productivity and the overall quality of life. Objective: The objective of this study was to investigate the factors that contribute to Noise Induced Hearing Loss amongst employees at the Platinum mine in the Limpopo Province, South Africa. Study method: A qualitative, phenomenological, exploratory, descriptive, contextual design was applied in order to explore and describe the contributory factors. Purposive non-probability sampling was used to select 10 male employees who were diagnosed with NIHL in the year 2014 in four mine shafts, and 10 managers who were involved in a Hearing Conservation Programme. The data were collected using semi-structured one-on-one interviews. A qualitative data analysis of Tesch’s approach was followed. Results: The following themes emerged: Experiences and challenges faced by employees in the work environment, hearing protective device factors and management and leadership factors. Hearing loss was caused by partial application of guidelines, policies, and procedures from the Department of Minerals and Energy. Conclusion: The study results indicate that although there are guidelines, policies, and procedures available, failure in the implementation of one element will affect the development and maintenance of employees hearing mechanism. It is recommended that the mine management should apply the guidelines, policies, and procedures and promptly repair the broken hearing protective devices.

Keywords: employees, factors, noise induced hearing loss, noise exposure

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Authors: Raghav Srivastava, Namrata Ramachandran

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Strong sustainability has been, by consensus, imagined as comprising economic and extra-economic variables and cannot be viewed merely in terms of a trade-off between the economic needs of today and the potential left for tomorrow. Specifically, the cultural as well the ecological impacts of development projects on the affected communities should be evaluated, in addition to the economic. In developing and densely populated economies such as India, energy intensive development is seen as a sine qua non – a necessary trade off with ecological conservation. Although social impact assessment has been included as an inalienable part of the Environmental Impact Assessment required to be conducted under Indian law, it seems that the same is unable to meet the ends it seeks to achieve. The dissociation between those bearing the costs of development, and those reaping its benefits, lies at the heart of this failure. This paper attempts to study the various cost–benefit relationships for these minority stakeholders using the proposed Nyamjang Chhu hydroelectric power plant in Tawang District of Arunachal Pradesh (in North-east India) as the chief object of study, and discusses whether the current model of sustainable development is truly sustainable, given the level of social dissociation and disintegration that occurs between affected communities and their environment. The economic allure of hydroelectric projects in the hilly regions of India very rarely results in a proper assessment of their ecological and social externalities. Examining the various issues that have been agitated in the course of litigation over the Nyamjang Chhu hydroelectric project, the authors argue that there is a pressing need to re-evaluate the current Indian model of sustainable development going forward.

Keywords: hydroelectric power, socio-cultural dissociation, sustainable development, trade offs

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Authors: Aritra Majumdar

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While organizations strive to expand their new customer base, retaining existing relationships is a key aspect of improving overall profitability and also showcasing how successful an organization is in holding on to its customers. It is an experimentally proven fact that the lion’s share of profit always comes from existing customers. Hence seamless management of renewal journeys across different channels goes a long way in improving trust in the brand. From a quality assurance standpoint, time travel testing provides an approach to both business and technology teams to enhance the customer experience when they look to extend their partnership with the organization for a defined phase of time. This whitepaper will focus on key pillars of time travel testing: time travel planning, time travel data preparation, and enterprise automation. Along with that, it will call out some of the best practices and common accelerator implementation ideas which are generic across verticals like healthcare, insurance, etc. In this abstract document, a high-level snapshot of these pillars will be provided. Time Travel Planning: The first step of setting up a time travel testing roadmap is appropriate planning. Planning will include identifying the impacted systems that need to be time traveled backward or forward depending on the business requirement, aligning time travel with other releases, frequency of time travel testing, preparedness for handling renewal issues in production after time travel testing is done and most importantly planning for test automation testing during time travel testing. Time Travel Data Preparation: One of the most complex areas in time travel testing is test data coverage. Aligning test data to cover required customer segments and narrowing it down to multiple offer sequencing based on defined parameters are keys for successful time travel testing. Another aspect is the availability of sufficient data for similar combinations to support activities like defect retesting, regression testing, post-production testing (if required), etc. This section will talk about the necessary steps for suitable data coverage and sufficient data availability from a time travel testing perspective. Enterprise Automation: Time travel testing is never restricted to a single application. The workflow needs to be validated in the downstream applications to ensure consistency across the board. Along with that, the correctness of offers across different digital channels needs to be checked in order to ensure a smooth customer experience. This section will talk about the focus areas of enterprise automation and how automation testing can be leveraged to improve the overall quality without compromising on the project schedule. Along with the above-mentioned items, the white paper will elaborate on the best practices that need to be followed during time travel testing and some ideas pertaining to accelerator implementation. To sum it up, this paper will be written based on the real-time experience author had on time travel testing. While actual customer names and program-related details will not be disclosed, the paper will highlight the key learnings which will help other teams to implement time travel testing successfully.

Keywords: time travel planning, time travel data preparation, enterprise automation, best practices, accelerator implementation ideas

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Authors: Kocakaya Eda, Argun Doğan

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This study analyzed the present state of information technology in the field of accounting by bibliometric analysis of scientific studies on the impact on the transformation of e-billing and tax managementin Turkey. With comparative bibliometric analysis, the innovation and positive effects of the process that changed with e-transformation in the field of accounting with e-transformation in businesses and the information technologies used in accounting and tax management were analyzed comparatively. By evaluating the data obtained as a result of these analyzes, suggestions on the use of information technologies in accounting and tax management and the positive and negative effects of e-transformation on the analyzed activities of the enterprises were emphasized. With the e-transformation, which will be realized with the most efficient use of information technologies in Turkey. The synergy and efficiency of IT technology developments in avcoounting and finance should be revealed in the light of scientific data, from the smallest business to the largest economic enterprises.

Keywords: information technologies, E-invoice, E-Tax management, E-transformation, accounting programs

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Authors: Hammad Riaz, Abubakr Saeed

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Environmental Management System (EMS), i.e., ISO 14001 helps to build corporate reputation, legitimacy and can also be considered as firms’ strategic response to institutional pressure to reduce the impact of business activity on natural environment. The financial outcomes of certifying with ISO 14001 are still unclear and equivocal. Drawing on institutional and market learning theories, the impact of ISO 14001 on firms’ market performance is examined for Chinese firms. By employing rigorous event study approach, this paper compared ISO 14001 certified firms with non-certified counterpart firms based on different matching criteria that include size, return on assets and industry. The results indicate that the ISO 14001 has been negatively signed by the investors both in the short and long-run. This paper suggested implications for policy makers, managers, and other nonprofit organizations.

Keywords: ISO 14001, legitimacy, institutional forces, event study approach, emerging markets

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Authors: C. V. Chen, Y. H. Jeng, S. J. Wang

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Leadership is essential to enhancing followers’ psychological empowerment and has an effect on their willingness to take on extra-role behavior and aim for greater performance. Authentic leadership is confirmed to promote employees’ positive affect, psychological empowerment, well-being, and performance. Employees’ spontaneous undertaking of organizationally desired behaviors allows organizations’ gaining the edge in the fiercely competitive business environment. Apart from the contextual factor of leadership, individuals’ goal orientation is found to be highly related to his/her performance. To better understand the psychological process and potential moderation of personal goal orientation, this study investigates the effect of authentic leadership on employees’ task performance and organizational citizenship behavior by including psychological empowerment as the mediating factor and goal orientation as the moderating factor.

Keywords: authentic leadership, task performance, organizational citizenship behavior, goal orientation

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Authors: Hongmin Chun

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This paper examines corporate cash holdings and their effect on the cost of equity capital. In addition, this study examines the potentially different effects when the firm belongs to chaebol and non-chaebol groups. Chaebol is a South Korean form of business conglomerate. Chaebol is typically global multinationals and owns numerous international enterprises, controlled by a chairman with power over all the operations. The overall empirical result suggests that higher cash holdings are a risk increasing factor which holds for the chaebol group of firms. This result is valid in a battery of robustness tests and 2SLS regressions. In Korea, higher cash holdings represent a risk premium factor that is closely related to the overinvestment and agency problems between managers and shareholders.

Keywords: cash holdings, implied cost of equity capital, chaebol, agency problem

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Authors: Rana Eijaz Ahmad

Abstract:

This paper is going to explain about the Fifth Political Theory that challenges all existing three plus one (Capitalism, Marxism and Fascism + Fourth Political Theory) theories. It says, ‘it is human ambiance evolve any political system to survive instead of borrowing other imported thoughts to live in a specific environment, in which Legitimacy leads to authority and promotes humanism.’ According to this theory, no other state is allowed to dictate or install any political system upon other states. It is the born right of individuals to choose a political system or a set of values that are going to make their structures and functions efficient enough to support the system harmony and counter the negative forces successfully. In the post 9/11 era, it is observed that all existing theories like Capitalism, Marxism, Fascism and Fourth Political Theory remained unsuccessful in resolving the global crisis. The so-called war against terrorism is proved as a war for terrorism and creates a vacuum on the global stage, worsening the crisis. The fifth political theory is an answer to counter terrorism in the twenty-first century. It calls for accountability of the United Nations for its failure in sustaining peace at global level. Therefore, the UN charter is supposed to be implemented in its true letter and spirit. All independent sovereign states have right to evolve their own system to carry out a political system that suits them best for sustaining harmony at home. This is the only way to counter terrorism. This paper is comprised of mixed method. Qualitative, quantitative and comparative methods will be used along with secondary sources. The objective of this paper is to create knowledge for the benefit of human beings with a logical and rational argument. It will help political scientists and scholars in conflict management and countering terrorism on pragmatic grounds.

Keywords: capitalism, fourth political theory, fifth political theory, Marxism, fascism

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