Search results for: private bond market

Authors: Yan-Shen Yang, Bai-Chen Xie

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Background and significance of the study: Both green power trading schemes and interregional power transmission are effective ways to increase green power absorption and achieve renewable power development goals. China accelerates the construction of interregional power transmission lines and the green power market. A critical issue focusing on the close interaction between these two approaches arises, which can heavily affect the green power quota allocation and renewable power development. Existing studies have not discussed this issue adequately, so it is urgent to figure out their relationship to achieve a suitable power market design and a more reasonable power grid construction.Basic methodologies: We develop an equilibrium model of the power market in China to analyze the coupling effect of these two approaches as well as their influence on power generation and interregional transmission in China. Our model considers both the Tradable green certificate (TGC) and green power market, which consists of producers, consumers in the market, and an independent system operator (ISO) minimizing the total system cost. Our equilibrium model includes the decision optimization process of each participant. To reformulate the models presented as a single-level one, we replace the producer, consumer, ISO, and market equilibrium problems with their Karush-Kuhn-Tucker (KKT) conditions, which is further reformulated as a mixed-integer linear programming (MILP) and solved in Gurobi solver. Major findings: The result shows that: (1) the green power market can significantly promote renewable power absorption while the TGC market provides a more flexible way for green power trading. (2) The phenomena of inefficient occupation and no available transmission lines appear simultaneously. The existing interregional transmission lines cannot fully meet the demand for wind and solar PV power trading in some areas while the situation is vice versa in other areas. (3) Synchronous implementation of green power and TGC trading mechanism can benefit the development of green power as well as interregional power transmission. (4) The green power transaction exacerbates the unfair distribution of carbon emissions. The Carbon Gini Coefficient is up to 0.323 under the green power market which shows a high Carbon inequality. The eastern coastal region will benefit the most due to its huge demand for external power.

Keywords: green power market, tradable green certificate, interregional power transmission, power market equilibrium model

Procedia PDF Downloads 133

Authors: Guanqun Shi, Xueqing Zhang

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The frequent occurrence of failures in PPP projects which caused great loss has raised attention from the government as well as the concessionaire. PPPs are complex arrangements for its long operation period and multiple players. Many types of risks in PPP projects may cause the project fail. The insurance is an important tool to transfer the risks. Through a comparison and analysis of international government PPP guidelines and contracts as well as the case studies worldwide, we have identified eight main insurance principles, discussed thirteen insurance types in different stages. An overall procedure would be established to improve the practices in PPP projects.

Keywords: public private partnerships, insurance, contract, risk

Procedia PDF Downloads 278

Authors: Cristian Păuna

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In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: algorithmic trading, automated trading systems, high-frequency trading, DAX Deutscher Aktienindex

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

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The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50-60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub-segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: population aging in the Czech Republic, segment 50-60 years, financial services marketing, marketing research, marketing approach

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Authors: Nirali Shukla, Neel Shah

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The World Bank Institute (WBI) is undertaking a review of government interventions aimed at facilitating sustainable investment in public private partnerships (PPPs) in various under developed countries. The study presents best practice for applying financial model to make PPPs financially viable. The lessons presented here, if properly implemented, can help countries use limited funds to attract more private investment, get more infrastructure built and, as a result, achieve greater economic growth. The four countries Brazil, Colombia, Mexico, and India in total develop an average of nearly US$50 billion in PPPs per year. There are a range of policies and institutional arrangements governments use to provide subsidies to PPPs. For example, some countries have created dedicated agencies, or ‘funds’, capitalized with money from the national budget to manage and allocate subsidies. Other countries have established well-defined policies for appropriating subsidies on an ad hoc basis through an annual budget process. In this context, subsidies are direct fiscal contributions or grants paid by the government to a project when revenues from user fees are insufficient to cover all capital and operating costs while still providing private investors with a reasonable rate of return. Without subsidies, some infrastructure projects that would provide economic or social gains, but are not financially viable, would go undeveloped. But the Financial model of BOLT (PPP) model described in this study suggests that it is most feasible option rather than going for subsidy schemes for making infrastructure projects financially viable. The major advantage for implementing this model is the government money is saved and can be used for other projects as well as the private investors are getting better rate of return than subsidized schemes.

Keywords: PPP, BOLT, subsidy schemes, financial model

Procedia PDF Downloads 746

Authors: Tingting Zhou

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The partial privatization of state-owned enterprises (SOEs) is a dynamic process. The main features of this process lie in not only gradual and sequential privatizations, but also privatized shares transfer. For partially privatized SOEs, the introduction of private sector ownership is not the end of the story because the previously introduced private owners may choose to leave the SOEs by transferring the privatized shares after privatization, a process that is called “privatized shares transfer”. This paper investigates the determinants of privatized shares transfer from the perspective of large shareholders’ control rights. The results captures the fact that the higher control rights of large shareholders lead to more privatized shares transfer. After exploring the impacts of excessive control rights, the results provide evidence supporting the idea that firms with excessive numbers of directors, senior managers or supervisors who also have positions in the largest controlling shareholder’s entity are more likely to transfer privatized shares owned by private owners. In addition, the largest shareholders’ ownership also plays a role in privatized shares transfer. This evidence suggests that the large shareholders’ control rights should be limited to an appropriate range during the process of privatization, thereby giving private shareholders more opportunity to participate in the operation of firms, strengthen the state and enhance the competitiveness of state capital.

Keywords: control rights of large shareholders, partial privatization, privatized shares transfer, state-owned listed companies

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Authors: Martin Pellon Consunji

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Due to the rise in popularity of Bitcoin and other crypto assets as a store of wealth and speculative investment, there is an ever-growing demand for automated trading tools, such as bots, in order to gain an advantage over the market. Traditionally, trading in the stock market was done by professionals with years of training who understood patterns and exploited market opportunities in order to gain a profit. However, nowadays a larger portion of market participants are at minimum aided by market-data processing bots, which can generally generate more stable signals than the average human trader. The rise in trading bot usage can be accredited to the inherent advantages that bots have over humans in terms of processing large amounts of data, lack of emotions of fear or greed, and predicting market prices using past data and artificial intelligence, hence a growing number of approaches have been brought forward to tackle this task. However, the general limitation of these approaches can still be broken down to the fact that limited historical data doesn’t always determine the future, and that a lot of market participants are still human emotion-driven traders. Moreover, developing markets such as those of the cryptocurrency space have even less historical data to interpret than most other well-established markets. Due to this, some human traders have gone back to the tried-and-tested traditional technical analysis tools for exploiting market patterns and simplifying the broader spectrum of data that is involved in making market predictions. This paper proposes a method which uses neuro evolution techniques on both sentimental data and, the more traditionally human-consumed, technical analysis data in order to gain a more accurate forecast of future market behavior and account for the way both automated bots and human traders affect the market prices of Bitcoin and other cryptocurrencies. This study’s approach uses evolutionary algorithms to automatically develop increasingly improved populations of bots which, by using the latest inflows of market analysis and sentimental data, evolve to efficiently predict future market price movements. The effectiveness of the approach is validated by testing the system in a simulated historical trading scenario, a real Bitcoin market live trading scenario, and testing its robustness in other cryptocurrency and stock market scenarios. Experimental results during a 30-day period show that this method outperformed the buy and hold strategy by over 260% in terms of net profits, even when taking into consideration standard trading fees.

Keywords: neuro-evolution, Bitcoin, trading bots, artificial neural networks, technical analysis, evolutionary algorithms

Procedia PDF Downloads 115

Authors: Haider Al-Zubaidy, Xiao-Ling Zhao, Riadh Al-Mahaidi

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In recent years, the technique adhesively-bonded fibre reinforced polymer (FRP) composites has found its way into civil engineering applications and it has attracted a widespread attention as a viable alternative strategy for the retrofitting of civil infrastructure such as bridges and buildings. When adopting this method, adhesive has a significant role and controls the general performance and degree of enhancement of the strengthened and/or upgraded structures. This is because the ultimate member strength is highly affected by the failure mode which is considerably dependent on the utilised adhesive. This paper concerns with experimental investigations on the effect of the adhesive used on the bond between CFRP patch and steel plate under medium impact tensile loading. Experiment were conducted using double strap joints and these samples were prepared using two different types of adhesives, Araldite 420 and MBrace saturant. Drop mass rig was used to carry out dynamic tests at impact speeds of 3.35, 4.43 and m/s while quasi-static tests were implemented at 2mm/min using Instrone machine. In this test program, ultimate load-carrying capacity and failure modes were examined for all loading speeds. For both static and dynamic tests, the adhesive type has a significant effect on ultimate joint strength. It was found that the double strap joints prepared using Araldite 420 showed higher strength than those prepared utilising MBrace saturant adhesive. Failure mechanism for joints prepared using Araldite 420 is completely different from those samples prepared utilising MBrace saturant. CFRP failure is the most common failure pattern for joints with Araldite 420, whereas the dominant failure for joints with MBrace saturant adhesive is adhesive failure.

Keywords: CFRP/steel double strap joints, adhesives of different ductility, dynamic tensile loading, bond between CFRP and steel

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Authors: Ahmed Kiani

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The United Arab Emirates is clearly facing a multitude of challenges in curbing its greenhouse gas emissions to meet its pre-allotted framework of Kyoto protocol and COP21 targets due to its hunger for modernization, industrialization, infrastructure growth, soaring population and oil and gas activity. In this work, we focus on the bonafide zero emission electric vehicles market penetration in the country’s transport industry for emission reduction. We study the global electric vehicle market trends, the complementary battery technologies and the trends by manufacturers, emission standards across borders and prioritized advancements which will ultimately dictate the terms of future conditions for the United Arab Emirate transport industry. Based on our findings and analysis at every stage of current viability and state-of-transport-affairs, we postulate policy recommendations to local governmental entities from a supply and demand perspective covering aspects of technology, infrastructure requirements, change in power dynamics, end user incentives program, market regulators behavior and communications amongst key stakeholders. 

Keywords: electric vehicles, greenhouse gas emission reductions, market analysis, policy recommendations

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Authors: Ruixin Zhang, Joel Carboni, Songchenchen Gong

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Since the Sustainable Development Goals (SDGs) officially became the 17 development goals set by the United Nations in 2015, it has become an inevitable trend in project management development globally. Since Sustainability and glob-alization are the main focus and trends in the 21st century, project management contains system-based optimization, and or-ganizational humanities, environmental protection, and economic development. As a populous country globally, with the advanced development of economy and technology, China becomes one of the biggest markets in the wine industry. However, the develop-ment of society also brings specific environmental issues. Climate changes have already brought severe impacts on the Chinese wine market, including consumer behavior, wine production activities, and organizational humanities. Therefore, the implementation of sustainable project management in Chinese wine market is essential. Surveys based analysis is the primary method to interpret how the climate variation effect the Chinese wine market and the importance of sustainable project management implementation for green market growth in China. This paper proposes the CWW Conceptual model that can be used in the wine industry, the new 7 Drivers Model, and SPM Framework to interpret the main drivers that impact project management implementation in the wine industry and to offer the directions to wine companies in China which would help them to achieve the green growth.

Keywords: project management, sustainability, green growth, climate changes, Chinese wine market

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Authors: Fatemeh Torabi, Jamal El-Den, Narumon Sriratanviriyakul

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Perpetual changes in the workplace and daily business activities bring a need for imbedding organizational knowledge sharing within the organizations’ culture, routines and processes. Organizations should adapt to the changing in the environment in order to survive. Accordingly, the management should promote a knowledge sharing culture which might result in knowledge accumulation, hence better response to these changing environmental conditions. Researchers in the field of strategy and marketing stressed that employees’, as well as the overall performance of the organization, would improve as a result of implementing a knowledge-oriented culture. The research investigated the significant impact of knowledge sharing on market response and the competitiveness of organizations. A knowledge sharing framework was developed based on current literary frameworks with additional constructs such as employees’ learning commitments, experiences and prior knowledge. Linear regression was used to analyze the relationships among dependent and independent variables. The research’s results indicated strong positive correlation between the dependent and independent variables, especially in organizational market sharing. We anticipate that this correlation would improve organizational knowledge sharing related practices and the associated knowledge entities. The research posits the introduced framework could be a solid ground for further investigations on how some organizational factors would influence the organization’s response to the market as well as on competitiveness. Final results support all hypotheses. Finding of this research show that knowledge sharing intention had the significant and positive effect on market response and competitiveness of organizations.

Keywords: knowledge management, knowledge sharing, market response, organizational competitiveness

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Authors: Prashant Motwani, Arghadeep Laskar

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The transfer of prestress force from prestressing strands to the surrounding concrete is dependent on the bond between the two materials. It is essential to understand the actual bond stress distribution along the transfer length to determine the transfer zone in pre-tensioned concrete. A 3-D nonlinear finite element model has been developed to simulate the transfer of prestress force from steel to concrete in pre-tensioned bridge girders through thermal strain technique using commercially available package ABAQUS. Full-scale bridge girder has been analyzed with thermal strain approach where the damage plasticity constitutive model has been used to model concrete. Parameters such as concrete strain, effective prestress, upward camber and longitudinal stress have been compared with analytical results. The discrepancy between numerical and analytical values was within 20%. The paper also presents a convergence study on mesh density and aspect ratio of the elements to perform the finite element study.

Keywords: aspect ratio, bridge girder, centre of gravity of strand, mesh density, finite element model, pretensioned bridge girder

Procedia PDF Downloads 229

Authors: Udaykumar R., M. S. Ganachari

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In order to engage community pharmacies in Tuberculosis care, a survey has been conducted in Belgaum city, Karnataka state, India. After the survey divided into two groups one is control group and another one is intervention group. One is dispensing of anti-tuberculosis drugs, and another one is non-availability of anti-tuberculosis drugs. Those community pharmacists who are voluntarily interesting for becoming DOTS (Directly observed treatment short course) provider and RNTCP (Revised national tuberculosis control programme) objectives. Structured training is conducted for community pharmacist who are dispensing anti-tuberculosis drugs. The training module includes record maintaining, reporting to the RNTCP, Medication adherence etc. In case of non-availability of anti-tuberculosis drugs, the district RNTCP has been given training for community pharmacist by providing free of drugs to the community pharmacies. So, community pharmacies can dispense anti-tuberculosis drugs to the patients. The target of this study is Private community pharmacies. A simple random sampling method is used and 550 private community pharmacy shops has been involved in Belgaum city of Karnataka state, India. Significance of the Study: This study mainly focused on training of DOTS (Directly observed treatment short course) to the private community pharmacist. Indian Govt. Considers Private Providers as Assets for TB Control and Care to Achieve National Strategic Plan for TB Elimination 2017-2025. The Govt. has not fully tapped the Potential of Private Pharmacies to Fight TB. Providing DOTS as per patient’s convenience through community DOT Providers with periodic monitoring may reduce the treatment Default. We explore RNTCP objectives interventions that can have directly managed by private community pharmacy shop. Objectives: Survey of anti-tuberculosis drugs in Community pharmacy shop in Belgaum city. Interested community pharmacist who are willing to become DOTS (Directly observed treatment short course) Provider. Major Findings:Most of the community pharmacist are dispensing anti-tuberculosis drugs without having knowledge of DOTS therapy and RNTCP objectives. No community pharmacist is aware of RNTCP and Tuberculosis burden in India. Most of the Pharmacist agreed to come for RNTCP Training module for the community pharmacist. Some of the community pharmacist not dispensing anti-tuberculosis drugs and they agreed to become official DOTS provider. Concluding Statement: Awareness of role of community pharmacist on tuberculosis control and care has been neglected. More than 50% of tuberculosis patients seeking treatments from privatesector. In this study finds the major gap between government and private sector on tuberculosis treatment.

Keywords: community pharmacist, directly observed treatment short course(DOTS), revised national tuberculosis control programme (RNTCP), private pharmacies, anti-tuberculosis drugs

Procedia PDF Downloads 120

Authors: Rizka Ardhiyana, Liesbetini Haditjaroko, Sri Mulijani, Reki Ashadi Wicaksono, Raafqi Ranasasmita

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Designing a sensitive, specific and easy to use method to detect pork contamination in the food industry remains a major challenge. In the current study, we developed a sensitive thiol-bond AuNP-Probe biosensor that will change color when detecting pork DNA in the Cytochrome B region. The interaction between the biosensors and DNA sample is measured by spectrophotometer at 540 nm. The biosensor is made by reducing gold with trisodium citrate to produce gold nanoparticle with 39.05 nm diameter. The AuNP-Probe biosensor (gold nanoprobe) achieved 16.04 ng DNA/µl limit of detection and 53.48 ng DNA/µl limit of quantification. The linearity (R2) between color absorbance changes and DNA concentration is 0.9916. The biosensor has a good specificty as it does not cross-react with DNA of chicken and beef. To verify specificity towards the target sequence, PCR was tested to the target sequence and reacted to the PCR product with the biosensor. The PCR DNA isolate resulted in a 2.7 fold higher absorbance compared to pork-DNA isolate alone (without PCR). The sensitivity and specificity of the method show the promising application of the thiol-bond AuNP biosensor in pork-detection.

Keywords: biosensor, DNA probe, gold nanoparticle (AuNP), pork meat, qPCR

Procedia PDF Downloads 355

Authors: Gou-Moon Choi, Woo-Young Jung, Chan-Young Yune

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Recently, the natural disaster has increased worldwide. In Korea, the damage to life and property caused by a typhoon, heavy rain, heavy snow, and an extreme wind also increases every year. Among natural disasters, the frequency and the strength of wind have increased because sea surface temperature has risen due to the increase of the average temperature of the Earth. In the case of extreme wind disaster, it is impossible to control or reduce the occurrence, and the recovery cost always exceeds the damage cost. Therefore, quantitative estimation of the damage cost for extreme wind needs to be established beforehand to install proactive countermeasures. In this study, the damage cost for private properties was analyzed based on the data for the past 10 years in Korea. The damage cost curve was also suggested for the metropolitan cities and provinces. The result shows the possibility for the regional application of the damage cost curve because the damage cost of the regional area is estimated based on the cost of cities and provinces.

Keywords: damage cost, extreme wind, natural disaster, private property

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Authors: Cheryl Marie Cordeiro

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Although fisheries and aquaculture studies might seem marginal to international business (IB) studies in general, fisheries and aquaculture IB (FAIB) management is currently facing increasing pressure to meet global demand and consumption for fish in the next coming decades. In part address to this challenge, the purpose of this systematic review of literature (SLR) study is to investigate the use of the term ‘market access’ in its context of use in the generic literature and business sector discourse, in comparison to the more specific literature and discourse in fisheries, aquaculture and seafood. This SLR aims to uncover the knowledge/interest gaps between the academic subject discourses and business sector practices. Corpus driven in methodology and using a triangulation method of three different text analysis software including AntConc, VOSviewer and Web of Science (WoS) analytics, the SLR results indicate a gap in conceptual knowledge and business practices in how ‘market access’ is conceived and used in the context of the pharmaceutical healthcare industry and FAIB research and practice. While it is acknowledged that the product orientation of different business sectors might differ, this SLR study works with the assumption that both business sectors are global in orientation. These business sectors are complex in their operations from product to market. This SLR suggests a conceptual model in understanding the challenges, the potential barriers as well as avenues for solutions to developing market access for FAIB.

Keywords: market access, fisheries and aquaculture, international business, systematic literature review

Procedia PDF Downloads 139

Authors: Folorunso Omoniyi, Peter Olubambi, Rotimi Sadiku

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Thermal barrier coating (TBC) system is used in both aero engines and other gas turbines to offer oxidation protection to superalloy substrate component. In the present work, it shows the ability of a new fabrication technique to develop rapidly new coating composition and microstructure. The compact powders were prepared by Powder Metallurgy method involving powder mixing and the bond coat was synthesized through the application of Spark Plasma Sintering (SPS) at 10500C to produce a fully dense (97%) NiCrAl bulk samples. The influence of sintering temperature on the hardness of NiCrAl, done by Micro Vickers hardness tester, was investigated. And Oxidation test was carried out at 1100oC for 20h, 40h, and 100h. The resulting coat was characterized with optical microscopy, scanning electron microscopy (SEM), energy dispersive x-ray analysis (EDAX) and x-ray diffraction (XRD). Micro XRD analysis after the oxidation test revealed the formation of protective oxides and non-protective oxides.

Keywords: high-temperature oxidation, powder metallurgy, spark plasma sintering, thermal barrier coating

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Authors: Charles-Olivier Amédée-Manesme, Benoit Faye, Eric Le Fur

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In this paper, the heterogeneity of the Bordeaux Legends 50 wine market price segment is addressed. For this purpose, quantile regression is applied – with market segmentation based on wine bottle price quantile – and the hedonic price of wine attributes is computed for various price segments of the market. The approach is applied to a major privately held data set which consists of approximately 30,000 transactions over the 2003–2014 period. The findings suggest that the relative hedonic prices of several wine attributes differ significantly among deciles. In particular, the elasticity coefficient of the expert ratings shows strong variation among prices. If - as suggested in the literature - expert ratings have a positive influence on wine price on average, they have a clearly decreasing impact over the quantiles. Finally, the lower the wine price, the higher the potential for price appreciation over time. Other variables such as chateaux or vintage are also shown to vary across the distribution of wine prices. While enhancing our understanding of the complex market dynamics that underlie Bordeaux wines’ price, this research provides empirical evidence that the QR approach adequately captures heterogeneity among wine price ranges, which simultaneously applies to wine stock, vintage and auctions’ house.

Keywords: hedonics, market segmentation, quantile regression, heterogeneity, wine economics

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Authors: Aneela Sheikh

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Private higher education institutes are challenged for their resilience and competitive edge in the globalized knowledge-based economy in the 21st century. Faculty retention plays an important role as a catalyst for addressing the current mega-developmental phenomenon in higher education institutes faced by developing countries. This study intends to explore the influence of servant leadership practice on faculty retention through the intervening role of job satisfaction towards minimizing the high faculty turnover in private higher education institutes, with the mediating role of job satisfaction. A sample of 341 faculty members from ten private higher education institutes in Lahore city of Pakistan, was selected through a stratified proportionate random sampling technique. A descriptive survey research approach was employed to collect data from 341 faculty members by administering a close-ended questionnaire based on a seven-point Likert scale as a self-administered research instrument. The study was conducted under the domain of the Leader-Member Exchange (LMX) theory. The mediating role of job satisfaction was measured by bootstrapping technique. The results revealed that servant leadership has a statistically significant influence on faculty retention, with a statistically significant mediating role of job satisfaction, in private higher education institutes in Pakistan. Further, up to the best of the authors’ knowledge, this is the first systematic and empirical study on faculty retention conducted against the backdrop of servant leadership in an Eastern context, particularly in Pakistan.

Keywords: servant leadership, faculty retention, job satisfaction, higher education institutes

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Authors: Ethan Petersen

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In this paper, we analyze the volatility of Apple’s stock beginning January 3, 2005 up to October 9, 2014, then focus on a range from 30 days prior to each product announcement until 30 days after. Product announcements are filtered; announcements whose 60 day range is devoid of other events are separated. This filtration is chosen to isolate, and study, a potential cross-effect. Concerning Apple keynotes, there are two significant dates: the day the invitations to the event are received and the day of the event itself. As such, the statistical analysis is conducted for both invite-centered and event-centered time frames. A comparison to the VIX is made to determine if the trend is simply following the market or deviating. Regardless of the filtration, we find that there is a clear deviation from the market. Comparing these data sets, there are significantly different trends: isolated events have a constantly decreasing, erratic trend in volatility but an increasing, linear trend is observed for clustered events. According to the Efficient Market Hypothesis, we would expect a change when new information is publicly known and the results of this study support this claim.

Keywords: efficient market hypothesis, event study, volatility, VIX

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Authors: Min Wei

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The traditional prediction methods of the forecast for tourism market are paid more attention to the accuracy of the forecasts, ignoring the results of the feasibility of forecasting and predicting operability, which had made it difficult to predict the results of scientific testing. With the application of Linear Regression Model, this paper attempts to construct a scientific evaluation system for predictive value, both to ensure the accuracy, stability of the predicted value, and to ensure the feasibility of forecasting and predicting the results of operation. The findings show is that a scientific evaluation system can implement the scientific concept of development, the harmonious development of man and nature co-ordinate.

Keywords: linear regression model, tourism market, forecast, tourism economics

Procedia PDF Downloads 328

Authors: Sahar Al-Qahtani, Rabeeh Ayaz Abbasi, Naif Radi Aljohani

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Many universities use social media platforms as new communication channels to disseminate information and promptly communicate with their audience. As Twitter is one of the widely used social media platforms, this research aims to explore the adaption and utilization of Twitter by universities. We propose a framework called 'Social Network Analysis for Universities on Twitter' (SNAUT) to analyze the usage of Twitter by universities and to measure their interaction with public. The study includes a sample of around 110,000 tweets from 36 Saudi universities, including both public and private universities. Using SNAUT, we can (1) investigate the purpose of using Twitter by universities, (2) determine the broad topics discussed by them, and (3) identify the groups closely associated with the universities. The results show that most of the Saudi universities (whether public or private) actively use Twitter. Results also reveal that public universities respond to public queries more frequently, but private universities stand out more in terms of information dissemination using retweets and diverse hashtags. Finally, we develop a ranking mechanism in SNAUT for ranking universities based on their social interaction with the public on Twitter.

Keywords: social media, twitter, social network analysis, universities, higher education, Saudi Arabia

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Authors: Tanvir Ahmed, Nahian Fyrose Fahim, Subrata Majumder, Sarker Kibria

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English is unanimously recognized as the standard second language in the world, and no one can deny this fact. Many people believe that possessing English proficiency skills is the key to communicating effectively globally, especially for developing countries, which can bring further success to itself on many fronts, as well as to other countries, by ensuring its people worldwide access to education, business, and technology. Bangladesh is a developing country of about 160 million people. A notable number of students in Bangladesh are currently pursuing higher education, especially at the tertiary or collegiate level, in more than 150 public and private universities. English is the dominant linguistic medium through which college instruction and lectures are given to students in Bangladesh. However, many of our students who have only completed their primary and secondary levels of education in the Bangla medium or language are generally in an awkward position to suddenly take and complete many unfamiliar requirements by the time they enter the university as freshmen. As students, they struggle to complete at least 18 courses to acquire proficiency in English. After obtaining a tertiary education certificate, the students could then have the opportunity to acquire a sustainable position in the job market industry; however, many of them do fail, unfortunately, because of poor English proficiency skills. Our study focuses on students in both public and private universities (N=150) as well as education experts (N=30) in Bangladesh. We had prepared two sets of questionnaires that were based upon a literature review on this subject, as we had also collected data and identified the reasons, and arrived at probable solutions to overcoming these problems. After statistical analysis, the study suggested certain remedial measures that could be taken in order to increase student's proficiency in English as well as to ensure their employability potential.

Keywords: tertiary education, English language proficiency, employability, unemployment problems

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Authors: R. Litt, A. Kana, K. House

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The primary aim of this patient-related experience questionnaire was to gain a better understanding of our patients' experience as inpatients when they undergo orthognathic surgery. The secondary aim of this study was to identify ways in which we can improve the orthognathic inpatient experience and to share this with other units. All patients who received orthognathic surgery at an NHS hospital - Bristol Royal Infirmary, England, over the course of 6 months were asked to complete a questionnaire regarding their care. This data was then analysed and compared to the same questionnaire given to patients treated in a private hospital where orthognathic surgery was completed. All treatment was completed by the same surgeon. The design of the questions took into account NICE (National Institute for Health and Care Excellence) guidance on improving the experience of patient care. Particularly taking into account patients' essential requirements of care, for example, assessing and managing pain, ensuring adequate and appropriate nutrition, and ensuring the patients' personal needs are regularly reviewed and addressed. Overall the patient-related experience after orthognathic surgery was comparable in both the NHS and private hospitals. However, the questionnaire highlighted aspects of inpatient care after orthognathic surgery that can easily be improved in order to provide our patients with the best possible care.

Keywords: orthognathic surgery, patient feedback, jaw surgery, inpatient experience

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Authors: Shaun Lim

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This paper presents a 9-month ethnographic case study of the value creating strategies employed by an Oxford market-trader of 20th-century maps. Maps are usually valued and sold as either antique objets d’art or useful navigational tools, with 20th-century maps precariously lying between the boundary of the aesthetic and utilitarian value-regimes. Here, the brokerage practices involved in the framing of outdated, lowly valued maps into vintage commodities will be examined. Ethnographic material of the unstudied market of old maps is introduced and situated in the second-hand, antique and collectible spheres of exchange. The map-trader as a broker is the ethnographic and methodological starting point of this paper. Brokerage is understood through the activity of framing that defines and brackets the value-regimes of commodities with the aid of market and framing devices. The trader’s activities will be examined in three parts. (1) The post-sourcing industry: the altering, mounting and tagging of maps before putting them into market circulation. Mounts, frames and tags are seen as market devices that authenticates and frames maps with aesthetic and symbolic values along with the disentanglement of its use value. (2) The market-display: the constitution of space that encourages the relations of looking at maps as aesthetic objects, while the categorical arrangement of the display contributes to legitimising of the collectability of maps. (3) The salesmanship strategies of the trader: the match-making of customers with maps of meaningful value, and the mediating of knowledge through the verbal articulation of the map’s symbolic values. Ultimately, value is not created in an accumulative sense, but is layered and superimposed to cater to a wide spectrum of patrons. The trader creates demand for his goods by mediating and articulating value-regimes already coherent to potential patrons.

Keywords: art and material culture, brokerage, commodification, framing, markets, value

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Authors: Maha Mourad, Fady Todros

Abstract:

The objective of this research is to find an explanatory model to define the most important variables and factors that affect the acceptance of Mobile Internet in the Egyptian market. A qualitative exploratory research was conducted to support the conceptual framework followed with a quantitative research in the form of a survey distributed among 411 respondents. It was clear that relative advantage, complexity, compatibility, perceived price level and perceived playfulness have a dominant role in influencing consumers to adopt mobile internet, while observability is correlated to the adoption but when measured with the other factors it lost its value. The perceived price level has a negative relationship with the adoption as well the compatibility.

Keywords: innovation, Egypt, communication technologies, diffusion, innovation adoption, emerging market

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Authors: Norazharuddin Shah Abdullah, Harshita Aini Haroon, Norazian Mohmad Azman, Erlane K. Ghani, Ismie Roha Mohamed Jais, Kamaruzzaman Muhammad, Azleen Ilias

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This study examines the factors that influence academics' decisions to accept or decline leadership roles in Malaysian universities. A questionnaire survey was distributed to a total of 1771 academics from public and private institutions in Malaysia. This study shows that the majority of academics in universities, regardless of whether they are public or private, have a reluctance to take on administrative roles. In particular, this study shows that female academics in public universities have no ambition for administrative roles, while female academics in private universities show a strong enthusiasm for taking up administrative positions. In terms of age, academics of all age groups made comparable choices, but academics who are under 30 years old have a greater propensity to aspire to an administrative position. Associate professors at private universities also opt for an administrative position. The factors that influence academics' decisions to accept or decline an administrative position are categorised into five categories: career development, skills and experience, preferences, perceptions, and organization. The findings of this study suggest that the increasing number of academics not seeking institutional leadership positions is a concern, as universities need a sufficient pool of potential successors to effectively fulfil the purpose and vision of the university. This study suggests the implementation of awareness and training initiatives to inspire academics, especially young academics, to take up leadership roles within the institutions.

Keywords: academics, institutional leadership, leadership, universities, Malaysia

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Authors: Farid Habibi Tanha, Mojtaba Jahanbazi, Morteza Foroutan, Rasidah Mohd Rashid

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This paper depicts the effects of asymmetric information in determining capital inflows to be captured through stock market microstructure. The model can explain several stylized facts regarding the capital immobility. The first phase of the research involves in collecting and refining 150,000,000 daily data of 11 stock markets over a period of one decade in an effort to minimize the impact of survivorship bias. Three micro techniques were used to measure information asymmetries. The final phase analyzes the model through panel data approach. As a unique contribution, this research will provide valuable information regarding negative effects of information asymmetries in stock markets on attracting foreign investments. The results of this study can be directly considered by policy makers to monitor and control changes of capital flow in order to keep market conditions in a healthy manner, by preventing and managing possible shocks to avoid sudden reversals and market failures.

Keywords: asymmetric information, capital inflow, market microstructure, investment

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Authors: Vanessa de Cillos Silva, Fabrício José Piacente, Sônia Maria De Stefano Piedade, Valter Arthur

Abstract:

The increasing concern in relation to safety and hygiene of food consumption makes it so that food conservation is studied. Food radiation is a technique used for conservation, but many consumers associate this technique with dangers such as environmental contamination and development of diseases. This research had the objective of evaluating the acceptance of radiated products by the consumer market in the city of Piracicaba/SP-Brasil. The methodology adopted was the application of a questionnaire in the city’s supermarkets. After the application, the data was tabulated and analyzed. It was observed that the majority of interviewees would not eat irradiated food. The unfamiliarity and questions about the safety of irradiated food were the main causes of your rejection.

Keywords: irradiation, questionnaire, storage, market acceptance

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Authors: David Abad, M. Encarnación Lucas-Pérez, Antonio Minguez-Vera, José Yagüe

Abstract:

We examine explicitly the relation between the gender diversity on corporate boards and the levels of information asymmetry in the stock market. Based on prior evidence that suggests that the presence of women on director boards increases the quantity and quality of public disclosure by firms, we expect firms with higher gender diversity on their boards to show lower levels of information asymmetry in the market. Using a Spanish sample for the period 2004-2009, proxies for information asymmetry estimated from high-frequency data, and a system GMM methodology, we find that the gender diversity on boards is negative associated with the level of information asymmetry in the stock market. Our findings support legislative changes implemented to increase the presence of women on boards in several European countries by providing evidence that gender diverse boards have beneficial effects on stock markets.

Keywords: corporate board, female directors, gender diversity, information asymmetry, market microstructure

Procedia PDF Downloads 462