Search results for: agency costs

Authors: Olajumoke Elizabeth Olawale-Olakunle

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This research examined effective event development on the sustainability of tourism in Lagos State. The objectives were to ascertain the implication of effective event development on cost, environmental innovations, opportunity for participants, job creation and working conditions. Also, there was a focus on employee participation and the sustainability of the tourism industry. However, the primary data were obtained via the use of structured questionnaire administered to the selected respondents. Simple random sampling was used to select the respondents, using the Yaro Yame formula. The formulated hypothesis was tested using Analysis of Variance (ANOVA) and Non-parametric chi-square. From the tests conducted, the results showed that effective event development has helped to reduce costs, bring about environmental innovations, offer unique opportunity among event participants, create jobs and promote better working conditions, and the influence it has on employee participation affects the sustainability of the tourism industry. Based on these results, it was concluded that effective event development helps to achieve sustainability in the tourism industry by reducing costs, ensuring efficient use of tourism resources and offers a unique opportunity among event participants. It was, therefore, recommended that events should be developed in such a way that it can help to reduce cost and help leverage the financial burdens of participants and stakeholders, thereby, achieving sustainability in the tourism industry.

Keywords: tourism, hospitality, industry, development

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Authors: S. Wesebaum, S. Willeke

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Production companies are faced with an increasingly turbulent business environment, which demands very high production volumes- and delivery date flexibility. If a decoupling by storage stages is not possible (e.g. at a contract manufacturing company) or undesirable from a logistical point of view, load scattering effects the production processes. ‘Load’ characterizes timing and quantity incidence of production orders (e.g. in work content hours) to workstations in the production, which results in specific capacity requirements. Insufficient coordination between load (demand capacity) and capacity supply results in heavy load scattering, which can be described by deviations and uncertainties in the input behavior of a capacity unit. In order to respond to fluctuating loads, companies try to implement consistent and realizable input behavior using the capacity supply available. For example, a uniform and high level of equipment capacity utilization keeps production costs down. In contrast, strong load scattering at workstations leads to performance loss or disproportionately fluctuating WIP, whereby the logistics objectives are affected negatively. Options for reducing load scattering are e.g. shifting the start and end dates of orders, batch splitting and outsourcing of operations or shifting to other workstations. This leads to an adjustment of load to capacity supply, and thus to a reduction of load scattering. If the adaptation of load to capacity cannot be satisfied completely, possibly flexible capacity must be used to ensure that the performance of a workstation does not decrease for a given load. Where the use of flexible capacities normally raises costs, an adjustment of load to capacity supply reduces load scattering and, in consequence, costs. In the literature you mostly find qualitative statements for describing load scattering. Quantitative evaluation methods that describe load mathematically are rare. In this article the authors discuss existing approaches for calculating load scattering and their various disadvantages such as lack of opportunity for normalization. These approaches are the basis for the development of our mathematical quantification approach for describing load scattering that compensates the disadvantages of the current quantification approaches. After presenting our mathematical quantification approach, the method of batch splitting will be described. Batch splitting allows the adaptation of load to capacity to reduce load scattering. After describing the method, it will be explicitly analyzed in the context of the logistic curve theory by Nyhuis using the stretch factor α1 in order to evaluate the impact of the method of batch splitting on load scattering and on logistic curves. The conclusion of this article will be to show how the methods and approaches presented can help companies in a turbulent environment to quantify the occurring work load scattering accurately and apply an efficient method for adjusting work load to capacity supply. In this way, the achievements of the logistical objectives are increased without causing additional costs.

Keywords: batch splitting, production logistics, production planning and control, quantification, load scattering

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Authors: Duc V. Nguyen

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Induction motors are widely used in different industry areas and can experience various kinds of faults in stators and rotors. In general, fault detection and diagnosis techniques for induction motors can be supervised by measuring quantities such as noise, vibration, and temperature. The installation of mechanical sensors in order to assess the health conditions of a machine is typically only done for expensive or load-critical machines, where the high cost of a continuous monitoring system can be Justified. Nevertheless, induced current monitoring can be implemented inexpensively on machines with arbitrary sizes by using current transformers. In this regard, effective and low-cost fault detection techniques can be implemented, hence reducing the maintenance and downtime costs of motors. This work proposes a method for fault detection and diagnosis of induction motors, which combines classical fast Fourier transform and modern/advanced machine learning techniques. The proposed method is validated on real-world data and achieves a precision of 99.7% for fault detection and 100% for fault classification with minimal expert knowledge requirement. In addition, this approach allows users to be able to optimize/balance risks and maintenance costs to achieve the highest benet based on their requirements. These are the key requirements of a robust prognostics and health management system.

Keywords: fault detection, FFT, induction motor, predictive maintenance

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Authors: Kemal Çomakli, Uğur Çakir, Ayşegül Çokgez Kuş, Erol Şahin

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Kind of energy that buildings need changes in various types, like heating energy, cooling energy, electrical energy and thermal energy for hot top water. Usually the processes or systems produce thermal energy causes emitting pollutant emissions while they produce heat because of fossil fuels they use. A lower consumption of thermal energy will contribute not only to a reduction in the running costs, but also in the reduction of pollutant emissions that contribute to the greenhouse effect and a lesser dependence of the hospital on the external power supply. Cogeneration or CHP (Combined heat and Power) is the system that produces power and usable heat simultaneously. Combined production of mechanical or electrical and thermal energy using a simple energy source, such as oil, coal, natural or liquefied gas, biomass or the sun; affords remarkable energy savings and frequently makes it possible to operate with greater efficiency when compared to a system producing heat and power separately. Because of the life standard of humanity in new age, energy sources must be continually and best qualified. For this reason the installation of a system for the simultaneous generation of electrical, heating and cooling energy would be one of the best solutions if we want to have qualified energy and reduce investment and operating costs and meet ecological requirements. This study aims to bring out the contributions of cogeneration systems to the environment and sustainability by saving the energy and reducing the emissions.

Keywords: sustainability, cogeneration systems, energy economy, energy saving

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Authors: T. Elrazaz

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This paper examines accrual and real earnings management by publicly listed targets around mergers and acquisitions. Prior literature shows that earnings management around mergers and acquisitions can have a significant economic impact because of the associated wealth transfers among stakeholders. More importantly, acting on behalf of their shareholders or pursuing their self-interests, managers of both targets and acquirers may be equally motivated to manipulate earnings prior to an acquisition to generate higher gains for their shareholders or themselves. Building on the grounds of information asymmetry, agency conflicts, stewardship theory, and the revelation principle, this study addresses the question of whether takeover targets employ accrual and real earnings management in the periods prior to the announcement of Mergers and Acquisitions (M&A). Additionally, this study examines whether acquirers are able to detect targets’ earnings management, and in response, adjust the acquisition premium paid in order not to face the risk of overpayment. This study uses an aggregate accruals approach in estimating accrual earnings management as proxied by estimated abnormal accruals. Additionally, real earnings management is proxied for by employing widely used models in accounting and finance literature. The results of this study indicate that takeover targets manipulate their earnings using accruals in the second year with an earnings release prior to the announcement of the M&A. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals. These results are consistent with the argument that targets of cash-only or mixed-payment deals do not have the same strong motivations to manage their earnings as their stock-financed deals counterparts do additionally supporting the findings of prior studies that the method of payment in takeovers is value relevant. The findings of this study also indicate that takeover targets manipulate earnings upwards through cutting discretionary expenses the year prior to the acquisition while they do not do so by manipulating sales or production costs. Moreover, in partitioning the sample of targets according to the method of payment used in the deal, the results are restricted only to targets of stock-financed deals, providing further robustness to the results derived under the accrual-based models. Finally, this study finds evidence suggesting that acquirers are fully aware of the accrual-based techniques employed by takeover targets and can unveil such manipulation practices. These results are robust to alternative accrual and real earnings management proxies, as well as controlling for the method of payment in the deal.

Keywords: accrual earnings management, acquisition premium, real earnings management, takeover targets

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Authors: Amaal Ali Al-Gamde

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The Syrian revolution is a major issue in the Middle East, which draws in world powers and receives a great focus in international mass media since 2011. The heavy global reliance on cyber news and digital sources plays a key role in conveying a sense of bias to a wide range of online readers. Thus, based on the assumption that media discourse possesses ideological implications, this study investigates the representation of Syrian revolution in online media. The paper explores the discursive constructions of anti and pro-government powers in Syrian revolution in 1000,000-word corpus of Fars online reports (an Iranian news agency), issued between 2013 and 2015. Taking a corpus assisted discourse analysis approach, the analysis investigates three types of lexicosemantic relations, the semantic macrostructures within which the two social actors are framed, the lexical collocations characterizing the news discourse and the discourse prosodies they tell about the two sides of the conflict. The study utilizes computer-based approaches, sketch engine and AntConc software to minimize the bias of the subjective analysis. The analysis moves from the insights of lexical frequencies and keyness scores to examine themes and the collocational patterns. The findings reveal the Fars agency’s ideological mode of representations in reporting events of Syrian revolution in two ways. The first is by stereotyping the opposition groups under the umbrella of terrorism, using words such as (law breakers, foreign-backed groups, militant groups, terrorists) to legitimize the atrocities of security forces against protesters and enhance horror among civilians. The second is through emphasizing the power of the government and depicting it as the defender of the Arab land by foregrounding the discourse of international conspiracy against Syria. The paper concludes discussing the potential importance of triangulating corpus linguistic tools with critical discourse analysis to elucidate more about discourses and reality.

Keywords: discourse prosody, ideology, keyness, semantic macrostructure

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Authors: Benga Ebouele, Thomas Tengen

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Implementing either periodic or continuous inventory review model within most manufacturing-companies-supply chains as a management tool may incur higher costs. These high costs affect the system flexibility which in turn affects the level of service required to satisfy customers. However, these effects are not clearly understood because the parameters of both inventory review policies (protection demand interval, order quantity, etc.) are not designed to be fully utilized under different and uncertain conditions such as poor manufacturing, supplies and delivery performance. Coming up with a hybrid model which may combine in some sense the feature of both continuous and a periodic inventory review models should be useful. Therefore, there is a need to build and evaluate such hybrid model on the annual total cost, stock out probability and system’s flexibility in order to search for the most cost effective inventory review model. This work also seeks to find the optimal sets of parameters of inventory management under stochastic condition so as to optimise each policy independently. The results reveal that a continuous inventory system always incurs lesser cost than a periodic (R, S) inventory system, but this difference tends to decrease as time goes by. Although the hybrid inventory is the only one that can yield lesser cost over time, it is not always desirable but also natural to use it in order to help the system to meet high performance specification.

Keywords: demand and lead time randomness, hybrid Inventory model, optimization, supply chain

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Authors: Palak V. Patel, Jessica Pixley, Steven R. Feldman

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Introduction: Basal cell carcinoma (BCC) is the most common skin cancer worldwide and requires substantial resources to treat. When choosing between indicated therapies, providers consider their associated adverse effects, efficacy, cosmesis, and function preservation. The patient’s tumor burden, infiltrative risk, and risk of tumor recurrence are also considered. Treatment cost is often left out of these discussions. This can lead to financial toxicity, which describes the harm and quality of life reductions inflicted by high care costs. Methods: We studied the guidelines set forth by the American Academy of Dermatology for the treatment of BCC. A PubMed literature search was conducted to identify the costs of each recommended therapy. We discuss costs alongside treatment efficacy and side-effect profile. Results: Surgical treatment for BCC can be cost-effective if the appropriate treatment is selected for the presenting tumor. Curettage and electrodesiccation can be used in low-grade, low-recurrence tumors in aesthetically unimportant areas. The benefits of cost-conscious care are not likely to be outweighed by the risks of poor cosmesis or tumor return ($471 BCC of the cheek). When tumor burden is limited, MMS offers better cure rates and lower recurrence rates than surgical excision, and with comparable costs (MMS $1263; SE $949). Surgical excision with permanent sections may be indicated when tumor burden is more extensive or if molecular testing is necessary. The utility of surgical excision with frozen sections, which costs substantially more than MMS without comparable outcomes, is less clear (SE with frozen sections $2334-$3085). Less data exists on non-surgical treatments for BCC. These techniques cost less, but recurrence-risk is high. Side-effects of nonsurgical treatment are limited to local skin reactions, and cosmesis is good. Cryotherapy, 5-FU, and MAL-PDT are all more affordable than surgery, but high recurrence rates increase risk of secondary financial and psychosocial burden (recurrence rates 21-39%; cost $100-270). Radiation therapy offers better clearance rates than other nonsurgical treatments but is associated with similar recurrence rates and a significantly larger financial burden ($2591-$3460 BCC of the cheek). Treatments for advanced or metastatic BCC are extremely costly, but few patients require their use, and the societal cost burden remains low. Vismodegib and sonidegib have good response rates but substantial side effects, and therapy should be combined with multidisciplinary care and palliative measures. Expert-review has found sonidegib to be the less expensive and more efficacious option (vismodegib $128,358; sonidegib $122,579). Platinum therapy, while not FDA-approved, is also effective but expensive (~91,435). Immunotherapy offers a new line of treatment in patients intolerant of hedgehog inhibitors ($683,061). Conclusion: Dermatologists working within resource-compressed practices and with resource-limited patients must prudently manage the healthcare dollar. Surgical therapies for BCC offer the lowest risk of recurrence at the most reasonable cost. Non-surgical therapies are more affordable, but high recurrence rates increase the risk of secondary financial and psychosocial burdens. Treatments for advanced BCC are incredibly costly, but the low incidence means the overall cost to the system is low.

Keywords: nonmelanoma skin cancer, basal cell skin cancer, squamous cell skin cancer, cost of care

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Authors: Daniel Y. Fiaveh, Michael P.K. Okyerefo, Clara K. Fayorsey

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Although sexual pleasure is an important aspect of human sexuality, there is little knowledge on how women and men negotiate pleasure in Ghana. The paper explores women and men’s agency in negotiating sexual pleasure in an urban community in Ghana based on the narratives of 20 women and 16 men. Specifically, we explore meanings of sexual pleasure, the erotic factors that stimulate sexual pleasure, and how women and men negotiate for these factors. Women are active negotiators of stimulants of sexual pleasure based on symbolic meanings.

Keywords: eroticism, sexual pleasure, sexual negotiation, Ghana

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Authors: Grace Rachid, Mutasem El Fadel, Mahmoud Al Hindi, Ibrahim Jamali, Daniel Abdel Nour

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This study examines the feasibility of indirect solar desalination in oil producing countries in the Middle East and North Africa (MENA) region. It relies on value engineering (VE) and cost-benefit with sensitivity analyses to identify optimal coupling configurations of desalination and solar energy technologies. A comparative return on investment was assessed as a function of water costs for varied plant capacities (25,000 to 75,000 m3/day), project lifetimes (15 to 25 years), and discount rates (5 to 15%) taking into consideration water and energy subsidies, land cost as well as environmental externalities in the form of carbon credit related to greenhouse gas (GHG) emissions reduction. The results showed reverse osmosis (RO) coupled with photovoltaic technologies (PVs) as the most promising configuration, robust across different prices for Brent oil, discount rates, as well as different project lifetimes. Environmental externalities and subsidies analysis revealed that a 16% reduction in existing subsidy on water tariffs would ensure economic viability. Additionally, while land costs affect investment attractiveness, the viability of RO coupled with PV remains possible for a land purchase cost < $ 80/m2 or a lease rate < $1/m2/yr. Beyond those rates, further subsidy lifting is required.

Keywords: solar energy, desalination, value engineering, CBA, carbon credit, subsidies

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Authors: Meltem Karatepe Kaya

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The concept of corporate governance is not new but, due to the recent international financial crisis, it has become prominent in contemporary business, accounting and legal debates. There is a wealth of anecdotal evidence which shows that protection of minority shareholders is an important issue in the corporate governance literature. Minority shareholders typically hold low amounts of stocks, so the benefits gained from their participation in shareholder meetings are very asymmetric to the cost. Therefore, the presence of a good corporate governance structure is the proper protection of and respect for the rights and interests of shareholders, particularly those of minority shareholders. The research will attempt to find answers to the following questions: Why minority shareholders’ rights should be protected? How minority shareholders’ rights could be improved? Does the legal framework in the United Kingdom provide adequate protection for minority shareholders? This study will assess regulations about the legal protections of minority shareholders and try to find answer this question: ’Why is it inevitable for company law to treat in a successful way the problems arising from minority shareholders' conflict with other shareholders of a company?’The protection of minority shareholders is not only a corporate governance objective in its own right but also has added importance particularly in developing countries. In the United Kingdom(UK) and the United States of America(USA), there are diffused ownership structures so that any shareholders do not influence the management of the company. This is in stark contrast to companies in developing countries such as Turkey where controlling shareholders and related insiders are a well-known feature of ownership structures, and where companies are often governed and managed by controlling shareholders such as family firms and associated companies through cross-shareholdings and pyramiding ownership structures. In Turkey, the agency problem is not between shareholders and management. Rather it gives rise to another dimension of the agency problem – a conflict of interest between majority shareholders (controlling) and minority shareholders. This research will make a particularly useful contribution to knowledge-based information and understanding of company law in the UK, particularly minority shareholders' remedies. It will not only give information about law and regulations of minority shareholders' remedies but also it will provide some knowledge about doctrinal discussions and relevant cases. The major contribution to study will be in the knowledge of law and regulation in the legal protections of minority shareholders in the United Kingdom and Turkey. In this study, the recommendations will be given for the development of the legal framework and practices of protections for minority shareholders and small investors.

Keywords: controlling shareholders, corporate governance, derivative actions, minority shareholders

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Authors: Cristiana Ortigão, Antonio Couto, Thiago Gabriel

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In the wake of Samarco Fundão’s failure in 2015 followed by Vale’s Brumadinho disaster in 2019, the Brazilian National Mining Agency started a comprehensive dam safety programmed to rank dam safety risks and establish monitoring and analysis procedures. This paper focuses on the use of accelerometers for static and dynamic applications. Static applications may employ tiltmeters, as an example shown later in this paper. Dynamic monitoring of a structure with accelerometers yields its dynamic signature and this technique has also been successfully used in Brazil and this paper gives an example of tailings dam.

Keywords: instrumentation, dynamic, monitoring, tailings, dams, tiltmeters, automation

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Authors: Nima Mahmoudi, Hamzeh Khazaei

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Serving machine learning inference workloads on the cloud is still a challenging task at the production level. The optimal configuration of the inference workload to meet SLA requirements while optimizing the infrastructure costs is highly complicated due to the complex interaction between batch configuration, resource configurations, and variable arrival process. Serverless computing has emerged in recent years to automate most infrastructure management tasks. Workload batching has revealed the potential to improve the response time and cost-effectiveness of machine learning serving workloads. However, it has not yet been supported out of the box by serverless computing platforms. Our experiments have shown that for various machine learning workloads, batching can hugely improve the system’s efficiency by reducing the processing overhead per request. In this work, we present MLProxy, an adaptive reverse proxy to support efficient machine learning serving workloads on serverless computing systems. MLProxy supports adaptive batching to ensure SLA compliance while optimizing serverless costs. We performed rigorous experiments on Knative to demonstrate the effectiveness of MLProxy. We showed that MLProxy could reduce the cost of serverless deployment by up to 92% while reducing SLA violations by up to 99% that can be generalized across state-of-the-art model serving frameworks.

Keywords: serverless computing, machine learning, inference serving, Knative, google cloud run, optimization

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Authors: Zair Firdaous, Fourka Mohamed, Elfelsoufi Zoubir

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The arrival of e-commerce has changed the supply chain management on the operational level as well as on the organization and strategic and even tactical decisions of the companies. The optimization of resources is an issue that is needed on the tactical and operational strategic plan. This work considers the allocation of resources in the case of pure players that have launched online sales. The aim is to improve the level of customer satisfaction and maintaining the benefits of e-retailer and of its cooperators and reducing costs and risks. We first modeled the B2C chain with all operations that integrates and possible scenarios since online retailers offer a wide selection of personalized service. The personalized services that online shopping companies offer to the clients can be embodied in many aspects, such as the customizations of payment, the distribution methods, and after-sales service choices. Every aspect of customized service has several modes. At that time, we analyzed the optimization problems of supply chain resource in customized online shopping service mode. Then, we realized an optimization model and algorithm for the development based on the analysis of the of the B2C supply chain resources. It is a multi-objective optimization that considers the collaboration of resources in operations, time and costs but also the risks and the quality of services as well as dynamic and uncertain characters related to the request.

Keywords: supply chain resource, e-commerce, pure-players, optimization

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Authors: Giovanna Borges Bottino, Luis Felipe Freitas do Nascimento Alves Teixeira

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This article aims to present a case study of the National Civil Aviation Agency (ANAC) in Brazil, ANAC-id. ANAC-id is the artificial intelligence algorithm developed for image analysis that recognizes standard images of unobstructed and uprighted face without sunglasses, allowing to identify potential inconsistencies. It combines YOLO architecture and 3 libraries in python - face recognition, face comparison, and deep face, providing robust analysis with high level of accuracy.

Keywords: artificial intelligence, deepface, face compare, face recognition, YOLO, computer vision

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Authors: Hongshan Guo

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Ground-source heat pumps provide stable and reliable heating and cooling when designed properly. The confounding effect of the borehole depth for a GSHP system, however, is rarely taken into account for any optimization: the determination of the borehole depth usually comes prior to the selection of corresponding system components and thereafter any optimization of the GSHP system. The depth of the borehole is important to any GSHP system because the shallower the borehole, the larger the fluctuation of temperature of the near-borehole soil temperature. This could lead to fluctuations of the coefficient of performance (COP) for the GSHP system in the long term when the heating/cooling demand is large. Yet the deeper the boreholes are drilled, the more the drilling cost and the operational expenses for the circulation. A controller that reads different building load profiles, optimizing for the smallest costs and temperature fluctuation at the borehole wall, eventually providing borehole depth as the output is developed. Due to the nature of the nonlinear dynamic nature of the GSHP system, it was found that between conventional optimal controller problem and model predictive control problem, the latter was found to be more feasible due to a possible history of both the trajectory during the iteration as well as the final output could be computed and compared against. Aside from a few scenarios of different weighting factors, the resulting system costs were verified with literature and reports and were found to be relatively accurate, while the temperature fluctuation at the borehole wall was also found to be within acceptable range. It was therefore determined that the MPC is adequate to optimize for the investment as well as the system performance for various outputs.

Keywords: geothermal borehole, MPC, dynamic modeling, simulation

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Authors: Nicolae Bold, Daniel Nijloveanu

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The idea of cropping-system is a method used by farmers. It is an environmentally-friendly method, protecting the natural resources (soil, water, air, nutritive substances) and increase the production at the same time, taking into account some crop particularities. The combination of this powerful method with the concepts of genetic algorithms results into a possibility of generating sequences of crops in order to form a rotation. The usage of this type of algorithms has been efficient in solving problems related to optimization and their polynomial complexity allows them to be used at solving more difficult and various problems. In our case, the optimization consists in finding the most profitable rotation of cultures. One of the expected results is to optimize the usage of the resources, in order to minimize the costs and maximize the profit. In order to achieve these goals, a genetic algorithm was designed. This algorithm ensures the finding of several optimized solutions of cropping-systems possibilities which have the highest profit and, thus, which minimize the costs. The algorithm uses genetic-based methods (mutation, crossover) and structures (genes, chromosomes). A cropping-system possibility will be considered a chromosome and a crop within the rotation is a gene within a chromosome. Results about the efficiency of this method will be presented in a special section. The implementation of this method would bring benefits into the activity of the farmers by giving them hints and helping them to use the resources efficiently.

Keywords: chromosomes, cropping, genetic algorithm, genes

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Authors: Moh Rizaldi, Ali Abdurachman, Indra Perwira

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The biggest demonstration after the 1998 reforms that took place in Indonesia for several days at the end of 2019 did not eliminate the intention of the People’s Representative Council (Dewan Perwakilan Rakyat or DPR) and the President to enact the law 19 of 2019 (KPK law). There is a central issue to be highlighted, namely whether the change is intended to strengthen or even weaken the KPK. To achieve this goal, the Analysis focuses on two agency principles namely the independent principle and the control principle as seen from three things namely the legal substance, legal structure, and legal culture. The research method is normative with conceptual, historical and statute approaches. The argument from this writing is that KPK Law has cut most of the KPK's authority as a result the KPK has become symbolic or toothless in combating corruption.

Keywords: control, independent, KPK, law no. 19 of 2019

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Authors: Firdaous Zair, Zoubir Elfelsoufi, Mohammed Fourka

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The allocation of resources is an issue that is needed on the tactical and operational strategic plan. This work considers the allocation of resources in the case of pure players, manufacturers and Click & Mortars that have launched online sales. The aim is to improve the level of customer satisfaction and maintaining the benefits of e-retailer and of its cooperators and reducing costs and risks. Our contribution is a decision support system and tool for improving the allocation of resources in logistics chains e-commerce B2C context. We first modeled the B2C chain with all operations that integrates and possible scenarios since online retailers offer a wide selection of personalized service. The personalized services that online shopping companies offer to the clients can be embodied in many aspects, such as the customizations of payment, the distribution methods, and after-sales service choices. In addition, every aspect of customized service has several modes. At that time, we analyzed the optimization problems of supply chain resource allocation in customized online shopping service mode, which is different from the supply chain resource allocation under traditional manufacturing or service circumstances. Then we realized an optimization model and algorithm for the development based on the analysis of the allocation of the B2C supply chain resources. It is a multi-objective optimization that considers the collaboration of resources in operations, time and costs but also the risks and the quality of services as well as dynamic and uncertain characters related to the request.

Keywords: e-commerce, supply chain, B2C, optimisation, resource allocation

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Authors: Cam-Duc Au, Philippe Krahnhof, Lars Klingenberger

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German banks are experiencing harsh times due to rising costs and declining profits. On the one hand, acquisition costs for new customers are increasing because of the rise of innovative FinTechs, which entered the market with one specific goal: disrupting the whole financial services industry by occupying parts of the value chain. On the other hand, the COVID-19 pandemic, as well as an overall low level of interest rates, cause the traditional source of bank income to still drain. Consequently, traditional banks must rethink their strategies or their identity, so to speak, because they go beyond their traditional offering of products and services. Having said that, banks may create new sources of income to stabilize their economic situation and replenish profits. The given paper aims to research the opportunities of establishing an ecosystem model. In doing so, the paper contributes to the current literature debate and provide reference points for traditional banks to start. Firstly, a systematic literature review introduces a selection of research works the author regards as significant. In the following step, quantitative data from an online survey with bank clients are analysed by means of descriptive statistics to show the perspective of Germans with regards to an ecosystem offering. The final research findings indicate that the surveyed retail banking clients express interest in the new offer, whereas non-financial products and services are of lower interest than their financial pendants.

Keywords: banking, ecosystem, disruptive innovation, digital offering, open-banking-strategy, financial services industry

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Authors: Yee-May Chan

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In recent decades, it is observed that social work agencies have participated actively, and thus, have gradually been more influential in social work education in Hong Kong. The neo-liberal welfare ideologies and changing funding mode have transformed the landscape in social work practice and have also had a major influence on the fieldwork environment in Hong Kong. The aim of this research is to explore the educational role of social work agencies and examine in particular whether they are able to enhance or hinder critical reflective learning in fieldwork. In-depth interviews with 15 frontline social workers and managers in different social work agencies were conducted to collect their views and experience in helping social work students in fieldwork. The overall findings revealed that under the current social welfare context most social workers consider that the most important role of social work agencies in fieldwork is to help students prepare to fit-in the practice requirements and work within agencies’ boundary. The fit-for-purpose and down-to-earth view of fieldwork practice is seen as prevalent among most social workers. This narrow perception of agency’s role seems to be more favourable to competence-based approaches. In contrast, though critical reflection has been seen as important in addressing the changing needs of service users, the role of enhancing critical reflective learning has not been clearly expected or understood by most agency workers. The notion of critical reflection, if considered, has been narrowly perceived in fieldwork learning. The findings suggest that the importance of critical reflection is found to be subordinate to that of practice competence. The lack of critical reflection in the field is somehow embedded in the competence-based social work practice. In general, social work students’ critical reflection has not been adequately supported or enhanced in fieldwork agencies, nor critical reflective practice has been encouraged in fieldwork process. To address this situation, the role of social work agencies in fieldwork should be re-examined. To maximise critical reflective learning in the field, critical reflection as an avowed objective in fieldwork learning should be clearly stated. Concrete suggestions are made to help fieldwork agencies become more prepared to critical reflective learning. It is expected that the research can help social work communities to reflect upon the current realities of fieldwork context and to identify ways to strengthen agencies’ capacities to enhance critical reflective learning and practice of social work students.

Keywords: competence-based social work, critical reflective learning, fieldwork agencies, neo-liberal welfare

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Authors: Kenneth O. Otasowie, Matthew Ikuabe, Clinton Aigbavboa, Ayodeji Oke

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Construction project cost are not only made up of production costs. This cost comprises of many other elements such as the preparation of a bidding document, cost estimations, drafting contractual agreements and monitoring that contractual obligations are met. Several studies have stressed the need for transaction costs (TC) to be defined in a way that covers all phases of a project and not only the pre-contract phase. Hence, this study aims to appraise transaction cost in South African (SA) construction projects by assessing what constitutes transaction cost, influencing factors and possible optimisation measures. A survey design was adopted. A total number of eighty (80) questionnaires were administered to quantity surveyors, procurement managers and project managers in Guateng Province, SA and seventy-two (72) were returned and found suitable for analysis. Collected data was analysed using percentage, mean item score, standard deviation, one-sample t-test. The findings show that external technical interaction, uncertainty, human factors are the most significant constituents of TC in SA, while technical competency, experience in similar project type and project characteristics are the leading influencing factors. Furthermore, understanding project characteristics, clear communication and technically competent project teams are most of the significant measures for optimising TC in SA construction projects. Therefore, this study recommends that a competent project team and a clear communication are fundamental to proper management of TC in SA construction projects.

Keywords: construction projects, project cost, South Africa, transaction cost

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Authors: Yu-Min Chang, Kuo-Sheng Tsai, Hung-Te Tsai, Chia-Hsin Li

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This paper presents the early-warning lights classification management system for industrial parks promoted by the Taiwan Environmental Protection Administration (EPA) since 2011, including the definition of each early-warning light, objectives, action program and accomplishments. All of the 151 industrial parks in Taiwan were classified into four early-warning lights, including red, orange, yellow and green, for carrying out respective pollution management according to the monitoring data of soil and groundwater quality, regulatory compliance, and regulatory listing of control site or remediation site. The Taiwan EPA set up a priority list for high potential polluted industrial parks and investigated their soil and groundwater qualities based on the results of the light classification and pollution potential assessment. In 2011-2013, there were 44 industrial parks selected and carried out different investigation, such as the early warning groundwater well networks establishment and pollution investigation/verification for the red and orange-light industrial parks and the environmental background survey for the yellow-light industrial parks. Among them, 22 industrial parks were newly or continuously confirmed that the concentrations of pollutants exceeded those in soil or groundwater pollution control standards. Thus, the further investigation, groundwater use restriction, listing of pollution control site or remediation site, and pollutant isolation measures were implemented by the local environmental protection and industry competent authorities; the early warning lights of those industrial parks were proposed to adjust up to orange or red-light. Up to the present, the preliminary positive effect of the soil and groundwater quality management system for industrial parks has been noticed in several aspects, such as environmental background information collection, early warning of pollution risk, pollution investigation and control, information integration and application, and inter-agency collaboration. Finally, the work and goal of self-initiated quality management of industrial parks will be carried out on the basis of the inter-agency collaboration by the classified lights system of early warning and management as well as the regular announcement of the status of each industrial park.

Keywords: industrial park, soil and groundwater quality management, early-warning lights classification, SOP for reporting and treatment of monitored abnormal events

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Authors: Sofia F. Franco, Jacob Macdonald

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This paper estimates the value of urban public street trees and their complementary and substitution value with other broader urban amenities and dis-amenities via the residential housing market. We estimate a lower bound value on a city’s tree amenities under instrumental variable and geographic regression discontinuity approaches with an application to Lisbon, Portugal. For completeness, we also explore how urban trees and in particular public street trees impact house prices across the city. Finally, we jointly analyze the planting and maintenance costs and benefits of urban street trees. The estimated value of all public trees in Lisbon is €8.84M. When considering specifically trees planted alongside roads and in public squares, the value is €6.06M or €126.64 per tree. This value is conditional on the distribution of trees in terms of their broader density, with higher effects coming from the overall greening of larger areas of the city compared to the greening of the direct neighborhood. Detrimental impacts are found when the number of trees is higher near street canyons, where they may exacerbate the stagnation of air pollution from traffic. Urban street trees also have important spillover benefits due to pollution mitigation around €6.21 million, or an additional €129.93 per tree. There are added benefits of €26.32 and €28.58 per tree in terms of flooding and heat mitigation, respectively. With significant resources and policies aimed at urban greening, the value obtained is shown to be important for discussions on the benefits of urban trees as compared to mitigation and abatement costs undertaken by a municipality.

Keywords: urban public goods, urban street trees, spatial boundary discontinuities, geospatial and remote sensing methods

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Authors: Tan Swee Liang

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This paper studies the two-way relationship between fintech credit and banking efficiency using the Generalized panel Method of Moment (GMM) estimation in structural equation modeling (SEM). Banking system efficiency, defined as its ability to produce the existing level of outputs with minimal inputs, is measured using input-oriented data envelopment analysis (DEA), where the whole banking system of an economy is treated as a single DMU. Banks are considered an intermediary between depositors and borrowers, utilizing inputs (deposits and overhead costs) to provide outputs (increase credits to the private sector and its earnings). Analysis of the interrelationship between fintech credit and bank efficiency is conducted to determine the impact in different country groupings (ASEAN, Asia and OECD), in particular the banking system response to fintech credit platforms. Our preliminary results show that banks do respond to the greater pressure caused by fintech platforms to enhance their efficiency, but differently across the different groups. The author’s earlier research on ASEAN-5 high bank overhead costs (as a share of total assets) as the determinant of economic growth suggests that expenses may not have been channeled efficiently to income-generating activities. One practical implication of the findings is that policymakers should enable alternative financing, such as fintech credit, as a warning or encouragement for banks to improve their efficiency.

Keywords: fintech lending, banking efficiency, data envelopment analysis, structural equation modeling

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Authors: Zety Shakila Binti Mohd Yusof, Muhammad Adib Bin Ishak, Hajah Fatimah Binti Hussein

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The international shipping business is related to numerous controls or regulations of export and import shipments. It is costly and time consuming, and when something goes wrong or when the buyer or seller fails to comply with the regulations, it can result in penalties, delays, and unexpected costs etc. For the focus of this study, the researchers have selected a local forwarder that provides forwarding and clearance services, Nexus Zone Logistics. It was identified that this company currently has many extra costs to be paid including local and detention charges, which negatively impacts the flow of income and reduces overall stability. Two variables have been identified as factors of extra charges; loaded containers entering the port by exceeded closing time and late delivery of empty containers to the container yard. This study is a qualitative in nature and the secondary data collected was analyzed using self-administered observation. The findings of this study were covered by one selected case for each export and import shipment between July and December 2014. The data were analyzed using frequency analysis based on tables and graphs. The researcher recommends Nexus Zone Logistics impose a 1% deposit payment per container for each shipment (export and import) to its customers.

Keywords: international shipping, export and import, detention charges, container shipment

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Authors: Diane H. Dotson, Shari L. Rodriguez

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Habitat for predators is on the decline worldwide, which often brings humans and predators into conflict over remaining shared space and common resources. While the direct impacts of human predator conflict on humans (i.e., attacks on livestock or humans resulting in injury or death) are well documented, the indirect impacts of conflict on humans (i.e., downstream effects such as fear, stress, opportunity costs, PTSD) have not been addressed. We interviewed 437 people living in 54 villages on the periphery of Kanha National Park, India, to assess the amount and severity of direct and indirect impacts of predator conflict. ​While 58% of livestock owners believed that predator attacks on livestock guards occurred frequently and 62% of those who collect forest products believed that predator attacks on those collecting occurred frequently, less than 20% of all participants knew of someone who had experienced an attack. Data related to indirect impacts suggest that such impacts are common; 76% of participants indicated they were afraid a predator will physically injure them. Livestock owners reported that livestock guarding took time away from their primary job (61%) and getting enough sleep (73%), and believed that it increased their vulnerability to illnesses (80%). These results suggest that the perceptions of risk of predator attack are likely inflated, yet the costs of human predator impacts may be substantially higher than previously estimated, particularly related to human well-being, making the implementation of appropriate and effective conservation and conflict mitigation strategies and policies increasingly urgent.

Keywords: direct impacts, indirect impacts, human-predator conflict, India

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Authors: Hugo Manoel Olivera Da Silva, Ricardo Silva Thé Pontes

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In this work, is presented an analysis of the Brazilian regulation on human exposure to electromagnetic fields, which provides limits to electric fields, magnetic and electromagnetic fields. The regulations for the electricity sector was in charge of the Agência Nacional de Energia Elétrica-ANEEL, the Brazilian Electricity Regulatory Agency, that made it through the Normative Resolution Nº 398/2010, resulting in a series of obligations for the agents of the electricity sector, especially in the areas of generation, transmission, and distribution.

Keywords: adverse effects, electric energy, electric and magnetic fields, human health, regulation

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Authors: Mihaela Munteanu (Pila), Silvius Stanciu

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This paper presents the aspects of the official control of fishery in the Republic of Moldova. Currently, the regulations and the activity of national institutions with responsibilities in the field of food quality are in a process of harmonization with the European rules, aiming at European integration, quality improvement and providing a higher level of food safety. The National Agency for Food Safety is the main national body with responsibilities in the field of food safety. In the field of fishery products, the Agency carries out an intensive activity of informing the citizen and controlling the products marketed. The paper presents the dangers related to the consumption of fish and fishery products traded on the national market, the sanitary-veterinary inspections conducted by the profile institution and the improper situations identified. The national market of fishery products depends largely on imports, mainly focused on ocean fish. The research carried out has shown that during the period 2011-2018, following the inspections carried out on fishery products traded on the national market, a number of inconsistencies have been identified. Thus, indigenous products were frequently detected with sensory characteristics unfit for consumption, and being commercialized in inappropriate locations or contaminated with chemical pollutants. On import products controlled, the most frequent inconsistent situations have been represented by inconsistent sensory aspects and by parasite contamination. Taking into account the specific aspects of aquatic products, including the high level of alterability, special conditions of growth, marketing, culinary preparation and consumption are necessary in order to decrease the risk of disease over the population. Certificates, attestations and other documents certifying the quality of batches, completed by additional laboratory examinations, are necessary in order to increase the level of confidence on the quality of products marketed in the Republic. The implementation of various control procedures and mechanisms at national level, correlated with the focused activity of the specialized institutions, can decrease the risk of contamination and avoid cases of disease on the population due to the consumption of fishery products.

Keywords: fishery products, food safety, quality control, Republic of Moldova

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Authors: Pietro D'Ambrosio, Roberta D'Ambrosio

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The upgrading of the architectural and urban heritage of the urban historic centers almost always involves the planning for the reuse and refunctionalization of the structures. Such interventions have complexities linked to the need to take into account the urban and social context in which the structure and its intrinsic characteristics such as historical and artistic value are inserted. To these, of course, we have to add the need to make a preliminary estimate of recovery costs and more generally to assess the economic and financial sustainability of the whole project of re-socialization. Particular difficulties are encountered during the pre-assessment of costs since it is often impossible to perform analytical surveys and structural tests for both structural conditions and obvious cost and time constraints. The methodology proposed in this work, based on a multidisciplinary and data-driven approach, is aimed at obtaining, at very low cost, reasonably priced economic evaluations of the interventions to be carried out. In addition, the specific features of the approach used, derived from the predictive analysis techniques typically applied in complex IT domains (big data analytics), allow to obtain as a result indirectly the evaluation process of a shared database that can be used on a generalized basis to estimate such other projects. This makes the methodology particularly indicated in those cases where it is expected to intervene massively across entire areas of historical city centers. The methodology has been partially tested during a study aimed at assessing the feasibility of a project for the reuse of the monumental complex of San Massimo, located in the historic center of Salerno, and is being further investigated.

Keywords: evaluation, methodology, restoration, reuse

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