Search results for: contracting portfolio management

Authors: M. Erol Genevois, D. Celik, H. Z. Ulukan

Abstract:

Automated teller machines (ATMs) can be considered among one of the most important service facilities in the banking industry. The investment in ATMs and the impact on the banking industry is growing steadily in every part of the world. The banks take into consideration many factors like safety, convenience, visibility, cost in order to determine the optimum locations of ATMs. Today, ATMs are not only available in bank branches but also at retail locations. Another important factor is the cash management in ATMs. A cash demand model for every ATM is needed in order to have an efficient cash management system. This forecasting model is based on historical cash demand data which is highly related to the ATMs location. So, the location and the cash management problem should be considered together. Although the literature survey on facility location models is quite large, it is surprising that there are only few studies which handle together ATMs location and cash management problem. In order to fulfill the gap, this paper provides a general review on studies, efforts and development in ATMs location and cash management problem.

Keywords: ATM location problem, cash management problem, ATM cash replenishment problem, literature review in ATMs

Procedia PDF Downloads 464

Authors: Dilina Janadith Nawarathne

Abstract:

This article presents the initial development of a communication model (Model_isi) as the means of gathering, preserving and transferring indigenous knowledge in the field of knowledge management. The article first discusses the need for an appropriate complimentary model for indigenous knowledge management which differs from the existing methods and models. Then the paper suggests the newly developed model for indigenous knowledge management which generate as result of blending key aspects of different disciplines, which can be implemented as a complementary approach for the existing scientific method. The paper further presents the effectiveness of the developed method in reflecting upon a pilot demonstration carried out on selected indigenous communities of Sri Lanka.

Keywords: indigenous knowledge management, knowledge transferring, tacit knowledge, research model, asian centric philosophy

Procedia PDF Downloads 463

Authors: Mallikarjuna Rao Yamarthy, Subramanyam Makam Venkata, Satya Prasad Kodati

Abstract:

The main objective of the proposed work is to reduce the overall network traffic incurred by mobility management, packet delivery cost and to increase the resource utilization. The proposed algorithm, An Efficient Resource Management Algorithm (ERMA) for mobility management in wireless mesh networks, relies on pointer based mobility management scheme. Whenever a mesh client moves from one mesh router to another, the pointer is set up dynamically between the previous mesh router and current mesh router based on the distance constraints. The algorithm evaluated for signaling cost, data delivery cost and total communication cost performance metrics. The proposed algorithm is demonstrated for both internet sessions and intranet sessions. The proposed algorithm yields significantly better performance in terms of signaling cost, data delivery cost, and total communication cost.

Keywords: data delivery cost, mobility management, pointer forwarding, resource management, wireless mesh networks

Procedia PDF Downloads 343

Authors: Kevin Smith

Abstract:

Publicly traded company in the US are legally obligated to host earnings calls that discuss their most recent financial reports. During these calls, investors are able to ask these companies questions about these financial reports and on the future direction of the company. This paper examines whether common institutional owners use these calls as a way to indirectly signal to companies in their portfolio to not take actions that could hurt the common owner's interests. This paper uses transcripts taken from the earnings calls of the six largest health insurance companies in the US from 2014 to 2019. This data is analyzed using text analysis and sentiment analysis to look for patterns in the statements made by common owners. The analysis found that common owners where more likely to recommend against direct price competition and instead redirect the insurance companies towards more passive actions, like investing in new technologies. This result indicates a mechanism that common owners use to reduce competition in the health insurance market.

Keywords: common ownership, text analysis, sentiment analysis, machine learning

Procedia PDF Downloads 57

Authors: Sehrish Jalal, Choon-Mee Kim, Dong-Min Kim

Abstract:

Background: Many pathogens causing hemorrhagic fevers of medical and veterinary importance have been identified and isolated from rodents in the Republic of Korea (ROK). Objective: We investigated the prevalence of emerging viruses causing hemorrhagic fevers, such as hemorrhagic fever with renal syndrome (HFRS), severe fever with thrombocytopenia syndrome (SFTS) and flaviviruses, from wild rodents. Methods: Striped field mice, Apodemus agrarius, (n=39) were captured during 2014-2015 in the south-west of ROK. Using molecular methods, lung samples were evaluated for SFTS virus, HFRS virus and flavivirus, and seropositivity was evaluated in the blood. Results: A high positive rate of Hantavirus (46.2%) was detected in A.agrarius lungs by reverse transcription-nested polymerase chain reaction (RT-N-PCR). The monthly prevalence of HFRS virus was 16.7% in October, 86.7% in November and 25% in August of the following year (p < 0.001). Moreover, 17.9% of blood samples were serologically positive for Hantavirus antibodies. The most prevalent strain in A. agrarius was Hantaan virus. All samples were positive for neither SFTS nor flavivirus. Conclusion: Hantan virus was detected in 86.7% of A. agrarius in November (autumn), and thus, virus shedding from A. agrarius can increase the risk of humans contracting HFRS. These findings may help to predict and prevent disease outbreaks in ROK.

Keywords: hemorrhagic fever virus, molecular diagnostic technique, rodents, Korea

Procedia PDF Downloads 138

Authors: B. Alajmi, L. Marouf, A. S. Chaudhry

Abstract:

In recent years, increasing emphasis has been placed upon issues concerning the evaluation of health care. In this regard, knowledge management has also been considered an important component of the evaluation process. KM facilitates the transfer of existing knowledge or the development of new knowledge among healthcare staff and patients. This research aimed to examine how hospitals in Kuwait employ knowledge management practices, including capturing, sharing, and generating, and the perceived impact of KM practices on performance of hospitals in Kuwait. Through adopting a quantitative survey method with 277 sample of doctors, the study found that in terms of the three major knowledge management practices – knowledge capturing, sharing, and generating – the adoption of KM practices were rated very low in the sampled hospitals in Kuwait. Hospitals paid little attention to the main activities that support the transfer of expertise among doctors in hospitals. However, as predicted by previous studies, knowledge management practices were perceived to have an impact on hospitals’ performance. Through knowledge capturing, sharing, and generating, hospitals could improve the services they provide through documenting best practices, transforming their hospitals into learning organizations in which lessons learned are captured, stored, and made available for others to learn from.

Keywords: knowledge management, hospitals, knowledge management practices, knowledge management tools, performance

Procedia PDF Downloads 485

Authors: Suxiang Yu

Abstract:

As an early childhood teacher in a socially and economically highly disadvantaged suburb in regional QLD, the author endeavors to find out effective positive approaches to behavior management for a classroom that is overwhelmed with challenging behaviors. After evaluating the first-hand data collected from the action research, the author summarizes a few innovative, positive behavior management strategies. The research also implies that behavior management opportunities are actually great social and emotional teachable moments, and by tapping into those teachable moments effectively, the teacher and children will have a closer relationship.

Keywords: action research, behavior management, classroom strategies, social and emotional teaching

Procedia PDF Downloads 149

Authors: Temidayo. O. Osunsanmi, Clinton Aigbavboa, Ayodeji Oke

Abstract:

The construction industry is a renowned latecomer to the efficiency offered by the adoption of information technology. Whereas, the banking, manufacturing, retailing industries have keyed into the future by using digitization and information technology as a new approach for ensuring competitive gain and efficiency. The construction industry has yet to fully realize similar benefits because the adoption of ICT is still at the infancy stage with a major concentration on the use of software. Thus, this study evaluates the awareness and readiness of construction professionals towards embracing a full digitalization of the construction industry using construction 4.0. The term ‘construction 4.0’ was coined from the industry 4.0 concept which is regarded as the fourth industrial revolution that originated from Germany. A questionnaire was utilized for sourcing data distributed to practicing construction professionals through a convenience sampling method. Using SPSS v24, the hypotheses posed were tested with the Mann Whitney test. The result revealed that there are no differences between the consulting and contracting organizations on the readiness for adopting construction 4.0 concepts in the construction industry. Using factor analysis, the study discovers that adopting construction 4.0 will improve the performance of the construction industry regarding cost and time savings and also create sustainable buildings. In conclusion, the study determined that construction professionals have a low awareness towards construction 4.0 concepts. The study recommends an increase in awareness of construction 4.0 concepts through seminars, workshops and training, while construction professionals should take hold of the benefits of adopting construction 4.0 concepts. The study contributes to the roadmap for the implementation of construction industry 4.0 concepts in the South African construction industry.

Keywords: building information technology, Construction 4.0, Industry 4.0, smart site

Procedia PDF Downloads 379

Authors: Shreya Bokare, Sanjay Pawar, Shika Nema

Abstract:

Growth in cloud applications is generating the tremendous amount of data, building load on traditional storage management systems. Software Defined Storage (SDS) is a new storage management concept becoming popular to handle this large amount of data. CoprHD is one of the open source SDS controller, available for experimentation and development in the storage industry. In this paper, the storage management techniques provided by CoprHD to manage heterogeneous storage platforms are experimented and analyzed. Various storage management parameters such as time to provision, storage capacity measurement, and heterogeneity are experimentally evaluated along with the theoretical expression to prove the completeness of CoprHD controller for storage management.

Keywords: software defined storage, SDS, CoprHD, open source, SMI-S simulator, clarion, Symmetrix

Procedia PDF Downloads 289

Authors: Dana Weimann-Saks, Inbal Peleg-Koriat

Abstract:

The perception of relative power within a couple relies on the resources (emotional-social, materialistic) each partner perceives to have. The present study examines a model in which the perceived power of the couple predicts the spouses’ conflict management. In addition, we examined whether this relationship is mediated by the perceived quality of the relationship. It was found that the perception of social-emotional power predicts cooperative conflict management styles of the couple. It was also found that this correlation is mediated by the perceived quality of the relationship. Contrary to the hypothesis, perception of social-emotional power did not predict the use of non-cooperative conflict management styles.

Keywords: spouses’ conflict management, conflict management, perceived quality of the relationship, social-emotional power

Procedia PDF Downloads 316

Authors: Beatriz Cortés, Andrés Boza, David Pérez, Llanos Cuenca

Abstract:

The Internet of Things (IoT) field is been applied in industries with different purposes. Sensing Enterprise (SE) is an attribute of an enterprise or a network that allows it to react to business stimuli originating on the internet. These fields have come into focus recently on the enterprises and there is some evidence of the use and implications in supply chain management while finding it as an interesting aspect to work on. This paper presents a revision and proposals of IoT applications in supply chain management.

Keywords: industrial, internet of things, production systems, sensing enterprises, sensor, supply chain management

Procedia PDF Downloads 394

Authors: Muhammad Sheraz, Vasile Preda, Silvia Dedu

Abstract:

Concepts of econophysics are usually used to solve problems related to uncertainty and nonlinear dynamics. In the theory of option pricing the risk neutral probabilities play very important role. The application of entropy in finance can be regarded as the extension of both information entropy and the probability entropy. It can be an important tool in various financial methods such as measure of risk, portfolio selection, option pricing and asset pricing. Gulko applied Entropy Pricing Theory (EPT) for pricing stock options and introduced an alternative framework of Black-Scholes model for pricing European stock option. In this article, we present solutions to maximum entropy problems based on Tsallis, Weighted-Tsallis, Kaniadakis, Weighted-Kaniadakies entropies, to obtain risk-neutral densities. We have also obtained the value of European call and put in this framework.

Keywords: option pricing, Black-Scholes model, Tsallis entropy, Kaniadakis entropy, weighted entropy, risk-neutral density

Procedia PDF Downloads 279

Authors: Oualid Kherbach, Marian Liviu Mocan, Amine Ghoumrassi, Cristian Dumitrache

Abstract:

The Globalization system and the development of economy, e-business, and introduction of new technologies formation create new challenges to all organizations particularly for small and medium enterprises (SMEs). Many studies on supply chain management (SCM) focus on large companies with universal operations employing high-stage information technology. These make a gap in the knowing of how SMEs use and practice supply chain management. In this screenplay, successful practices of supply chain management (SCM) can give SMEs an edge over their competitors. However, SMEs in Romania and Balkan countries face problems in SCM implementation and practices due to lack of resources and direction. The objectives of this research highlight the supply chain management practices of the small and medium enterprise strip in Romania and understand how SMEs manage and use SCM. This study Checks the potential existence of systematic differences between small businesses and medium-sized businesses with regard to supply chain management practices and the application of supply management has contributed to the improvement performance and increase the profitability of companies such as increasing the market share and improving the level of clients.

Keywords: globalization, small and medium enterprises, supply chain management, practices

Procedia PDF Downloads 348

Authors: Sawsan J. Al-husseini, Talib A. Dosa

Abstract:

Educational institutions are today facing increasing pressures due to economic, political and social upheaval. This is only exacerbated by the nature of education as an intangible good which relies upon the intellectual assets of the organisation, its staff. Top management support has been acknowledged as having a positive general influence on knowledge management and creativity. However, there is a lack of models linking top management support, knowledge sharing, and innovation within higher education institutions, in general within developing countries, and particularly in Iraq. This research sought to investigate the impact of top management support on innovation through the mediating role of knowledge sharing in Iraqi private HEIs. A quantitative approach was taken and 262 valid responses were collected to test the causal relationships between top management support, knowledge sharing, and innovation. Employing structural equation modelling with AMOS v.25, the research demonstrated that knowledge sharing plays a pivotal role in the relationship between top management support and innovation. The research has produced some guidelines for researchers as well as leaders, and provided evidence to support the use of knowledge sharing to increase innovation within the higher education environment in developing countries, particularly Iraq.

Keywords: top management support, knowledge sharing, innovation, structural equation modelling

Procedia PDF Downloads 315

Authors: M. Takhtravanchi, C. Pathirage

Abstract:

In the construction industry, project members are conveyor of project knowledge which is, often, not managed properly to be used in future projects. As construction projects are temporary and unique, project members are willing to be recruited once a project is completed. Therefore, poor management of knowledge across construction projects will lead to a considerable amount of knowledge loss; the ignoring of which would be detrimental to project performance. This issue is more prominent in projects undertaken through the traditional procurement system, as this system does not incentives project members for integration. Thus, disputes exist between the design and construction phases based on the poor management of knowledge between those two phases. This paper aims to highlight the challenges of the knowledge management that exists within the traditional procurement system. Expert interviews were conducted and challenges were identified and analysed by the Interpretive Structural Modelling (ISM) approach in order to summarise the relationships among them. Two identified key challenges are the Culture of an Organisation and Knowledge Management Policies. A knowledge of the challenges and their relationships will help project manager and stakeholders to have a better understanding of the importance of knowledge management.

Keywords: challenges, construction industry, knowledge management, traditional procurement system

Procedia PDF Downloads 412

Authors: Roberta Gentry

Abstract:

A mixed methods study that examined candidate’s perceptions of the use of computerized simulation as an effective tool to learn classroom management will be presented. The development, implementation, and assessment of the simulation and candidate data on the feasibility of the approach in comparison to other methods will be presented.

Keywords: behavior management, simulations, teacher preparation, teacher education

Procedia PDF Downloads 385

Authors: Chuencheewin Yimfuang

Abstract:

The WIPO copyright treaty (WCT) was established by the World Intellectual Property Organisation (WIPO). This agreement required the contracting nations to provide adequate protection to technological measures to prevent massive copyright infringement in the internet system. Thailand had to implement the anti-circumvention rules into domestic legislation to comply with this international obligation. The purpose of this paper is to critically discuss the legislative standard under the WCT. It also aims to examine the legal development of technological protection measures in Thailand and demonstrate that the scope of prohibitions under the copyright Act 2022 (NO.5) is similar to the Digital Millennium Copyright Act 1998 (DMCA) of the United States (US). It could be found that the anti-circumvention laws of Thailand prohibit the circumvention of access-control technologies, and the regulation on trafficking circumvention devices has been added to the latest version of the Thai Copyright Act. These legislative evolutions have revealed the attempt to reinforce the legal protection of technological measures and copyright holders in order to be in line with global practices. However, the amendment has problems concerning the legal definitions of effective technological measure and the prohibited act of circumvention. The vagueness might affect the scope of protection and the boundary of prohibition. With this aspect, the DMCA will be evaluated and compared to gain guidelines for interpretation and enforcement in Thailand. The lessons and experiences learned from this study might be useful to correct the flaws or at least clarify the ambiguities embodied in Thai copyright legislation.

Keywords: legal development, technological protection measure, circumvention, Thailand

Procedia PDF Downloads 70

Authors: Mohamed Asaad Abdelrazek, Amir Taher El-Sheikh, M. Zayan, A.M. Elhady

Abstract:

The successful realization of complex systems is dependent not only on the technology issues and the process for implementing them, but on the management issues as well. Managing the systems development lifecycle requires technical management. Systems engineering management is the technical management. Systems engineering management is accomplished by incorporating many activities. The three major activities are development phasing, systems engineering process and lifecycle integration. Systems engineering management activities are performed across the system development lifecycle. Due to the ever-increasing complexity of systems as well the difficulty of managing and tracking the development activities, new ways to achieve systems engineering management activities are required. This paper presents a systematic approach used as a design management tool applied across systems engineering management roles. In this approach, Transdisciplinary System Development Lifecycle (TSDL) Model has been modified and integrated with Quality Function Deployment. Hereinafter, the name of the systematic approach is the Transdisciplinary Quality System Development Lifecycle (TQSDL) Model. The QFD translates the voice of customers (VOC) into measurable technical characteristics. The modified TSDL model is based on Axiomatic Design developed by Suh which is applicable to all designs: products, processes, systems and organizations. The TQSDL model aims to provide a robust structure and systematic thinking to support the implementation of systems engineering management roles. This approach ensures that the customer requirements are fulfilled as well as satisfies all the systems engineering manager roles and activities.

Keywords: axiomatic design, quality function deployment, systems engineering management, system development lifecycle

Procedia PDF Downloads 340

Authors: A. Karasek

Abstract:

Rapid growth of Information Technologies (IT) has had huge influence on enterprises, and it has contributed to its promotion and increasingly extensive use in enterprises. Information Technologies have to a large extent determined the processes taking place in a enterprise; what is more, IT development has brought the need to adopt a brand new approach to human resources management in an enterprise. The use of IT in Human Resource Management (HRM) is of high importance due to the growing role of information and information technologies. The aim of this paper is to evaluate the use of information technologies in human resources management in enterprises. These practices will be presented in the following areas: Recruitment and selection, development and training, employee assessment, motivation, talent management, personnel service. Results of conducted survey show diversity of solutions applied in particular areas of human resource management. In the future, further development in this area should be expected, as well as integration of individual HRM areas, growing mobile-enabled HR processes and their transfer into the cloud. Presented IT solutions applied in HRM are highly innovative, which is of great significance due to their possible implementation in other enterprises.

Keywords: e-HR, human resources management, HRM practices, HRMS, information technologies

Procedia PDF Downloads 329

Authors: Adela Mariana Vadastreanu, Adrian Bot, Andreea Maier, Dorin Maier

Abstract:

This paper approaches the need for innovation management in the context of an existing integrated management system implemented in an organization. The road to success for companies in today’s economic environment is more demanding than ever and the capacity of adapting to the rapid changes is compensatory in order to resist on the market. The managers struggle, daily, with increasingly complex problems, caused by fierce competition in the market but also from the rising demands of customers. Innovation seems to be the solution for these problems. During the last decade almost all companies have been certificated according to various management systems, like quality management system, environmental management system, health and safety management system and others; furthermore many companies have implemented an integrated management system, by integrating two or more management systems. The problem rising today is how to integrate innovation in this integrated management systems. The challenge of the problem is that the development of an innovation management system is in the early phase. In this paper we have studied the possibility of integrating some of the innovation request in an existing management system, we have identify the innovation performance request and we proposed some recommendations regarding innovation management and its implementation as a part of an integrated management system. This paper lies down the bases for developing an model of integration management systems that include innovation as a main part of it. Organizations are becoming more aware of the importance of Integrated Management Systems (IMS). Integrating two or more management systems into an integrated management system can have much advantages.This paper examines various models of management systems integration in accordance with professional references ISO 9001, ISO 18001 and OHSAS 18001, highlighting strengths and weaknesses, creating a basis for future development of integrated management systems, and their involvement in various other processes within the organization, such as innovation management. The more and more demanding economic context emphasizes the awareness of the importance of innovation for organizations. This paper highlights the importance of the innovation for an organization and also gives some practical solution in order to improve the overall success of the business through a better approach of innovation. Various standards have been developed in order to certificate organizations that they respect the requirements. Applying an integrated standards model is shown to be a more effective way then applying the standards independently. The problem that arises is that in order to adopt the integrated version of standards there have to be made some changes at the organizational level. Every change that needs to be done has an effect on its activity, and in this sense the paper tries to deal with the changes needed for adopting an integrated management system and if those changes have an influence over the performance. After the analysis of the results, we can conclude that in order to improve the performance a necessary step is the implementation of innovation in the existing integrated management system.

Keywords: innovation, integrated management systems, innovation management, quality

Procedia PDF Downloads 298

Authors: Adam Marks, Munir Majdalawieh, Maytha Al Ali

Abstract:

While research is rich with what criteria could be included in the academic program review processes, there is rarely any mention of how this significant and complex process should be managed. This paper proposes using project management methodology in alignment with the program review criteria of the Dickeson’s Prioritizing Academic Programs model. Project management and academic program review share two distinct characteristics; one is their life cycle, and the second is the core knowledge areas they use. This aligned and structured approach offers academic administrators a step-by-step guide that can help them manage this process and effectively assess academic programs.

Keywords: project management, academic program, program review, education, higher education institution, strategic management

Procedia PDF Downloads 348

Authors: Tarik Bazgour, Cedric Heuchenne, Danielle Sougne

Abstract:

We examine time variation in the market beta of portfolios sorted on quality, liquidity level and liquidity beta characteristics across stock market phases. Using US stock market data for the period 1970-2010, we find, first, the US stock market was driven by four regimes. Second, during the crisis regime, low (high) quality, high (low) liquidity beta and illiquid (liquid) stocks exhibit an increase (a decrease) in their market betas. This finding is consistent with the flight-to-quality and liquidity phenomena. Third, we document the same pattern across stocks when the market volatility is low. We argue that, during low volatility times, investors shift their portfolios towards low quality and illiquid stocks to seek portfolio gains. The pattern observed in the tranquil regime can be, therefore, explained by a flight-to-low-quality and to illiquidity. Finally, our results reveal that liquidity level is more important than liquidity beta during the crisis regime.

Keywords: financial crises, quality, liquidity, liquidity risk, regime-switching models

Procedia PDF Downloads 385

Authors: Chinedu Bevis Dibia, Hom Nath Dhakal

Abstract:

Effective waste management in sub-Saharan Africa has been identified as a means of resolving the wicked problems posed by climate change. Municipal solid waste management in Nigeria could be argued to be ineffective and unsustainable, despite the tag of sustainable ascribed to most municipalities’ waste management. Relatively, few studies have enquired on the evolution of Sustainable Municipal Waste Management (SMWM) in Nigeria. The main objective of this research is to examine the evolution of SMWM in Nigeria using Lagos state as a case study. A qualitative method was used as methodology, soft systems analysis is the main tool of evaluation. Results indicated that effective policy implementation and management is the main challenge to the proper evolution of SMWM. These findings highlight the relevance of effective stakeholder’s engagement and management, policy consistency as major determinants in SMWM.

Keywords: high income localities, low middle income localities, SMWM, upper middle income localities, waste collection, waste disposal

Procedia PDF Downloads 137

Authors: Chi-Hao Yeh

Abstract:

The aim of this paper is to show how to apply TRIZ to resolve conflicts in management area, which can be readily applied in new product development (NPD) process and Knowledge Management (KM) system in desinging and manfacturing stages. TRIZ has been well-known as a creative and innovative thinking theory in solving engineering and technology contradictions in the last two decades. However, few studies and practical usage were proposed in management area. Conflicts occurring including schedule, budget, and risk plannings at smart phone R&D process are discussed to demonstrate the ideas guided by 39 TRIZ management parameters, 40 TRIZ innovative principles, and contradiction matrix. The results show that TRIZ is able to provide direct, quick and effective alternatives to resolve the management conflicts. In this manner, huge effort and cost can be actually saved and practical experince can be stored in KM system. In this paper, an innovative 3C consuming product such as smart-phone is utilized as a case study to describe the proposed TRIZ-based conflicts-solving approaches in NPD process and Knowledge Management (KM) system.

Keywords: TRIZ, conflicts-solving in managment area, new product development (NPD), knowledge management (KM), smart-phone

Procedia PDF Downloads 496

Authors: Anna M. Pretorius

Abstract:

The emerging markets category for portfolio investment was introduced in 1986 in an attempt to promote capital market development in less developed countries. Investors traditionally diversified their portfolios by investing in different developed markets. However, high growth opportunities forced investors to consider emerging markets as well. Examples include the rapid growth of the “Asian Tigers” during the 1980s, growth in Latin America during the 1990s and the increased interest in emerging markets during the global financial crisis. As such, portfolio flows to emerging markets have increased substantially. In 2002 7% of all equity allocations from advanced economies went to emerging markets; this increased to 20% in 2012. The stronger links between advanced and emerging markets led to increased synchronization of asset price movements. This increased level of stock market integration for emerging markets is confirmed by various empirical studies. Against the background of increased interest in emerging market assets and the increasing level of integration of emerging markets, this paper focuses on the determinants of stock market integration of emerging market countries. Various studies have linked the level of financial market integration with specific economic variables. These variables include: economic growth, local inflation, trade openness, local investment, budget surplus/ deficit, market capitalization, domestic bank credit, domestic institutional and legal environment and world interest rates. The aim of this study is to empirically investigate to what extent trade-related determinants have an impact on stock market integration. The panel data sample include data of 16 emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Malaysia, Pakistan, Peru, Philippines, Poland, Russian Federation, South Africa, Thailand and Turkey for the period 1998-2011. The integration variable for each emerging stock market is calculated as the explanatory power of a multi-factor model. These factors are extracted from a large panel of global stock market returns. Trade related explanatory variables include: exports as percentage of GDP, imports as percentage of GDP and total trade as percentage of GDP. Other macroeconomic indicators – such as market capitalisation, the size of the budget deficit and the effectiveness of the regulation of the securities exchange – are included in the regressions as control variables. An initial analysis on a sample of developed stock markets could not identify any significant determinants of stock market integration. Thus the macroeconomic variables identified in the literature are much more significant in explaining stock market integration of emerging markets than stock market integration of developed markets. The three trade variables are all statistically significant at a 5% level. The market capitalisation variable is also significant while the regulation variable is only marginally significant. The global financial crisis has highlighted the urgency to better understand the link between the financial and real sectors of the economy. This paper comes to the important finding that, apart from the level of market capitalisation (as financial indicator), trade (representative of the real economy) is a significant determinant of stock market integration of countries not yet classified as developed economies.

Keywords: emerging markets, financial market integration, panel data, trade

Procedia PDF Downloads 291

Authors: Mehtab Alam, Mudiarasan Kuppusamy

Abstract:

Image branding is the prominent and well-guided phenomena of managing tourism destinations. It examines the image of cities forming as brand identity. Transformation of cities into tourist destinations is obligatory for the current management practices to be used for foreign policy. The research considers the features of perception, destination accommodation, destination quality, traveler revisit, destination information system, and behavioral image for tourism destination management. Using the quantitative and qualitative research methodology, the objective is to examine and investigate the opportunities for destination branding. It investigates the features and management of tourism destinations in Abbottabad city of Pakistan through SPSS and NVivo 12 software. The prospective outlook of the results and coding reflects the significant contribution of integrated destination management for image branding, where Abbottabad has the potential to become a destination city. The positive impact of branding integrates tourism management as it is fulfilling travelers’ requirements to influence the choice of destination for innovative foreign policy.

Keywords: image branding, destination management, tourism, foreign policy, innovative

Procedia PDF Downloads 75

Authors: R. A. C. K. Gunathilaka, P. T. D. Peiris, O. S. M. Jayawardane, S. M. A. I. Kulathunga

Abstract:

Waste management is one of the predominant aspects of resource utilization and sustainability. The absence of a proper waste management system may lead to adverse troubles and catastrophic tragedies ultimately. Sri Lanka has faced different predicaments for a long time due to the unavailability of a systematic manner in the waste management process. The main objective of this research is to design an efficient waste management system for an urban area in Sri Lanka. The research was dispersed into three categories as biodegradable, non-biodegradable, and hazardous waste. Different waste materials were researched for each category by probing the entire process from the beginning to final disposal for perceiving the prevailing problems in the waste management system. The distinctive segment of this research is comparing efficient foreign waste management strategies with efficacious approaches on increasing public commitment to uncovering cognizable ways of implementing such a system in the Sri Lankan context. Waste management systems in Singapore, Japan, Malaysia, USA, Maldives, and China incorporated their exemplary plan of action on tackling the waste problem in diverse sectors were studied. Ultimately, three coherent models were proposed for each category pertaining to the concepts of circular economy and lean manufacturing from the inception to the final disposal of the waste. This research also includes concealed financial opportunities regarding waste management.

Keywords: circular economy, efficient waste management system, lean manufacturing, sustainability, urban area

Procedia PDF Downloads 152

Authors: Ruijie Fan, Hao Xu

Abstract:

Due to the increasing demand for resources, solid waste disposal is becoming an increasingly important issue to be addressed. Solid waste is not only hazardous to human health but also has a negative impact on the environment. The main sources of solid waste are metals, glass, food, plastics, paper, and electrical waste. Different types of waste may require different treatments. The UK currently lags behind other countries, such as Japan and Germany, in terms of waste management. Although the UK is catching up through various incentives, waste management education in the UK still faces challenges. Education requires a lot of work before the UK can achieve a circular economy. This paper first presents the latest information on the five main types of solid waste in the UK today. It delves into the current state of waste paper management in the UK, in addition to gathering information from the literature on the current state of waste management education in the UK as a whole. Potential barriers to the disposal of each waste type in the UK are identified, along with potential barriers to education in the UK. This study was based on a pragmatic philosophy to find possible solutions for these barriers, including questionnaires to conduct an in-depth investigation. In addition, the questionnaire analysis reveals a correlation between educational attainment and individual waste management behaviour and attitudes. This research guides inspiration on the current problems of waste management in the UK.

Keywords: circular economy, education, solid waste, waste management

Procedia PDF Downloads 165

Authors: Felipe Henao, Yeny Rodriguez, Juan P. Viteri, Isaac Dyner

Abstract:

Colombia is rich in natural resources and greatly focuses on the exploitation of water for hydroelectricity purposes. Alternative cleaner energy sources, such as solar and wind power, have been largely neglected despite: a) its abundance, b) the complementarities between hydro, solar and wind power, and c) the cost competitiveness of renewable technologies. The current limited mix of energy sources creates considerable weaknesses for the system, particularly when facing extreme dry weather conditions, such as El Niño event. In the past, El Niño have exposed the truly consequences of a system heavily dependent on hydropower, i.e. loss of power supply, high energy production costs, and loss of overall competitiveness for the country. Nonetheless, it is expected that the participation of hydroelectricity will increase in the near future. In this context, this paper proposes a stochastic lineal programming model to optimize the insertion of renewable energy systems (RES) into the Colombian electricity sector. The model considers cost-based generation competition between traditional energy technologies and alternative RES. This work evaluates the financial, environmental, and technical implications of different combinations of technologies. Various scenarios regarding the future evolution of costs of the technologies are considered to conduct sensitivity analysis of the solutions – to assess the extent of the participation of the RES in the Colombian power sector. Optimization results indicate that, even in the worst case scenario, where costs remain constant, the Colombian power sector should diversify its portfolio of technologies and invest strongly in solar and wind power technologies. The diversification through RES will contribute to make the system less vulnerable to extreme weather conditions, reduce the overall system costs, cut CO2 emissions, and decrease the chances of having national blackout events in the future. In contrast, the business as usual scenario indicates that the system will turn more costly and less reliable.

Keywords: energy policy and planning, stochastic programming, sustainable development, water management

Procedia PDF Downloads 269

Authors: Nima Amani, Ali Salehi Dastjerdi, Fatemeh Ahmadi, Ardalan Sabamehr

Abstract:

The cost overrun of the construction projects has always been one of the main problems of the construction companies caused by the risky nature of the construction projects. Therefore, today, the application of risk management is inevitable. Although in theory, the issue of risk management is divided into the opportunities and threats management, in practice, most of the projects have been focused on the threats management. However, considering the opportunities management and applying the opportunities-response strategies can lead to the improved profitability of the construction projects of the companies. In this paper, a new technique is developed to identify the opportunities in the construction projects using an improved protocol and propose the appropriate opportunities-response strategies to the construction companies to provide them with higher profitability. To evaluate the effectiveness of the protocol for selecting the most appropriate strategies in ‎response to the opportunities and threats, two projects from a construction company in Iran were ‎studied. Both projects selected were in mid-range in terms of size and similar in terms of time, ‎run time and costs. Finally, the output indicates that using the proposed opportunities-response strategies show that the company's profitability in the future can be increased approximately for similar projects.

Keywords: opportunities management, risk-response strategy, opportunity-response strategy, productivity, risk management

Procedia PDF Downloads 211