Search results for: free market foundation perspective

Authors: Benghezel Hichem

Abstract:

Thyroid dysfunction in hemodialysis subjects is represented mainly by hypothyroidism. The objective of our work is to determine the thyroid profile of our hemodialysis patients and to highlight the prevalence of different thyroid disorders. Methods: This is a retrospective study performed on a mono centric 2 months (February and March 2013) on 42 hemodialysis patients (11 male and 31 female). We made the dosage of thyroid hormones Thyrotropin (TSH) ((free thyroxin ) FT4 and free Triodothyronin ) FT3) by chemiluminescence immunoassay method on cobas 6000 Roche Diagnostics. The results: The prevalence of biological hypothyroidism was 18% (7% with a high TSH isolated and a mean +/- SD 9.44 +/- 6.29, 5% with high TSH, and with low FT4 a mean +/- SD is 8.18 +/- 0.53 for TSH and 9.69 +/- 0.22 for FT4, One patient with a high TSH, and low FT4, FT3. 4% of patients with a low T3 syndrome with a mean +/- SD of 3.93 +/- 0,3 for FT3), we notice that 5% of patients with hyperthyroidism TSH collapsed and mean +/- SD of TSH is 0.017 +/- 0,001. Conclusion: The biological Hypothyroidism is a common endocrine disorder in chronic hemodialysis.

Keywords: hypothyroidism, hemodialysis, thyréostimulin, free thyroxin, triodothyronin

Procedia PDF Downloads 424

Authors: Nyoman Wijana, Chandra Arha

Abstract:

Disclosures of Intellectual Capital (IC) is a presentation of corporate information assets that are not recorded in the financial statements. This disclosures is very helpful because it provides inform corporate assets are intangible. In the new economic era, the company's intangible assets will determine company's competitive advantage. This study aimed to examine the effect of IC disclosures on market capitalization growth. Observational studies conducted over ten years in 2002-2011. The purpose of this study was to determine the effect for last ten years. One hundred samples of the company's largest market capitalization in 2011 traced back to last ten years. Data that used, are in 2011, 2008, 2005, and 2002 Method that’s used for acquiring the data is content analysis. The analytical method used is Ordinanary Least Square (OLS) and analysis tools are e views 7 This software using Pooled Least Square estimation parameters are specifically designed for panel data. The results of testing analysis showed inconsistent expression levels affect the growth of the market capitalization in each year of observation. The results of this study are expected to motivate the public company in Indonesia to do more voluntary IC disclosures and encourage regulators to make regulations in a comprehensive manner so that all categories of the IC must be disclosed by the company.

Keywords: IC disclosures, market capitalization growth, analytical method, OLS

Procedia PDF Downloads 342

Authors: Mohammad R. Jalali

Abstract:

Movement of liquid with a free surface in a container is known as slosh. For instance, slosh occurs when water in a closed tank is set in motion by a free surface displacement, or when liquid natural gas in a container is vibrated by an external driving force, such as an earthquake or movement induced by transport. Slosh is also derived from resonant switching of a natural basin. During sloshing, different types of motion are produced by energy exchange between the liquid and its container. In present study, a numerical model is developed to simulate the nonlinear even harmonic oscillations of free surface sloshing of an initial disturbance to the free surface of a liquid in a closed square basin. The response of the liquid free surface is affected by amplitude and motion frequencies of its container; therefore, sloshing involves complex fluid-structure interactions. In the present study, nonlinear interaction of free surface sloshing of an initial Gaussian hump with its uneven container is predicted numerically. For this purpose, Green-Naghdi (GN) equations are applied as governing equation of fluid field to produce nonlinear second-order and higher-order wave interactions. These equations reduce the dimensions from three to two, yielding equations that can be solved efficiently. The GN approach assumes a particular flow kinematic structure in the vertical direction for shallow and deep-water problems. The fluid velocity profile is finite sum of coefficients depending on space and time multiplied by a weighting function. It should be noted that in GN theory, the flow is rotational. In this study, GN numerical simulations of initial Gaussian hump are compared with Fourier series semi-analytical solutions of the linearized shallow water equations. The comparison reveals that satisfactory agreement exists between the numerical simulation and the analytical solution of the overall free surface sloshing patterns. The resonant free surface motions driven by an initial Gaussian disturbance are obtained by Fast Fourier Transform (FFT) of the free surface elevation time history components. Numerically predicted velocity vectors and magnitude contours for the free surface patterns indicate that interaction of Gaussian hump with its container has localized effect. The result of this sloshing is applicable to the design of stable liquefied oil containers in tankers and offshore platforms.

Keywords: fluid-structure interactions, free surface sloshing, Gaussian hump, Green-Naghdi equations, numerical predictions

Procedia PDF Downloads 401

Authors: Xinlan Zhang, Dandong Ge, Bingying Liu, Haoyang Liang

Abstract:

With the rapid development of technology and urbanization, innovation has become an important driving force for urban development. Since the late 20th Century, a number of cities and regions have emerged in the world with innovation as the main driving force, and many of them are still the most important innovation centers in the world. Based on the perspective of innovation ecosystem theory, this paper compares Silicon Valley in the United States, Cambridge in the United Kingdom, Tsukuba in Japan and Zhongguancun in China to explore the reasons for the success of innovative regions and their respective characteristics, hoping to provide a reference for the development of other innovative cities. The main conclusions of this study are the following; firstly, different countries have different social backgrounds. The development model of innovative regions is closely related to the regional backgrounds. Secondly, the market force and the government power have important significance for the development of the innovation regions. The influence of the government power in the early stage of development is great, and in the latter stage, development is dominated by the market force. In addition, the self-organizing ability of the region has a great impact on the innovation ability of the region. Strong self-organizing ability is conducive to the development of innovation economy.

Keywords: contrastive study, development model, innovation ecosystem, innovative regions

Procedia PDF Downloads 162

Authors: Mella Ismelina Farma Rahayu

Abstract:

Environmental problems could not be separated from unethical human perspectives and behaviors toward the environment. There is a fundamental error in the philosophy of people’s perspective about human and nature and their relationship with the environment, which in turn will create an inappropriate behavior in relation to the environment. The aim of this study is to investigate and to understand the ethics of the environment in the context of humans interacting with the environment by using the hermeneutic approach. The related theories and concepts collected from literature review are used as data, which were analyzed by using interpretation, critical evaluation, internal coherence, comparisons, and heuristic techniques. As a result of this study, there will be a picture related to the interaction of human and environment in the perspective of environmental ethics, as well as the problems of the value of ecological justice in the interaction of humans and environment. We suggest that the interaction between humans and environment need to be based on environmental ethics, in a spirit of mutual respect between humans and the natural world.

Keywords: environment, environmental ethics, interaction, value

Procedia PDF Downloads 426

Authors: Rusne Kregzdaite

Abstract:

The value of the cultural sector stems from the symbolic exploration that differentiates cultural organisations from other product or service organisations. As a result, the cultural sector has a dual impact on the socio-economic system: the economic value (expressed in terms of market relations) created influences the dynamics of the country's financial indicators, while the cultural (non-market) value indirectly contributes to the welfare of the state through changes in societal values, creativity transformations and cultural needs of the country. Measurement of indirect (cultural value) impacts is difficult, but in the case of the cultural sector (especially when it comes to economically inefficient state-funded culture), it helps to reveal the essential characteristics of the sector. The study aims to analyze the value of cultural organisations that are invisible in market processes and to base it on quantified calculations. This was be done by analyzing the usefulness of the consumer, incorporating not only the price paid but also the social and cultural decision-making factors that determine the spectator's choice (time dedicated for a visit, additional costs, content, previous experiences, corporate image). This may reflect the consumer's real choice to consume (all the costs he incurs may be considered the financial equivalent of his experience with the cultural establishment). The research methodology was tested by analyzing the performing arts sector and applying methods to the Lithuanian national drama theatre case. The empirical research consisted of a survey (more than 800 participants) of Lithuanian national drama theatre visitors to different performances. The willingness to pay and travel costs methods were used. Analysis of different performances lets identifies the factor that increases willingness to pay for the performance and affects theatre attendance. The research stresses the importance of cultural value and social perspective of the cultural sector and relates it to the discussions of public funding of culture.

Keywords: cultural economics, performing arts, willingness to pay, travel cost analysis, performing arts management

Procedia PDF Downloads 93

Authors: Farhana Arefeen Mila, Luis Emilio Morales, Nam Hoang, Sujana Adapa, Garry Griffith

Abstract:

This study investigates the existence of price transmission asymmetries and imperfections among the coastal and freshwater fish species in Bangladesh. Using a Structural Vector Autoregression (SVAR) model, we explore how price changes in one fish species impact the prices of others in the retail market. Monthly data from the Department of Agricultural Marketing (DAM) covering the period from 2012 to 2023 was analyzed. Price series were detrended using the Hodrick-Prescott filter, and unit root tests confirmed stationarity after detrending. The findings indicate that there are significant interdependencies and asymmetries in price transmission, particularly the strong influence of Hilsha on the broader fish market. Hilsha’s price shocks generate immediate responses across other species, reflecting its cultural and economic importance. Silver Pomfret demonstrates some independence but is still affected by broader market fluctuations, particularly those involving Hilsha. Meanwhile, Rohu and Catla exhibit high interdependence, where price changes in one species closely impact the other, underscoring their substitutable nature in consumer preferences. These findings emphasize the need for joint interventions and market monitoring to stabilize prices effectively. Stakeholders are encouraged to monitor Hilsha’s market, consider coordinated interventions for Rohu and Catla, and establish data-sharing partnerships to enhance market stability. Additionally, promoting consumer awareness of price trends and sustainable practices can further support market resilience and long-term sustainability in the fisheries sector.

Keywords: price transmission, cross commodity, fish, Bangladesh, CCF, SVAR, IRF

Procedia PDF Downloads 20

Authors: M. Bouhadef, K. Bouzelha-Hammoum, T. Guendouzen-Dabouz, A. Younsi, T. Zitoun

Abstract:

The aim of this paper is to report the different experimental studies, conducted in the laboratory, dealing with the flow in the presence of an obstacle lying in a rectangular hydraulic channel. Both subcritical and supercritical regimes are considered. Generally, when considering the theoretical problem of the free-surface flow, in a fluid domain of finite depth, due to the presence of an obstacle, we suppose that the water is an inviscid fluid, which means that there is no sheared velocity profile, but constant upstream. In a hydraulic channel, it is impossible to satisfy this condition. Indeed, water is a viscous fluid and its velocity is null at the bottom. The two configurations are presented, i.e. a flow over an obstacle and a towed obstacle in a resting fluid.

Keywords: experiments, free-surface flow, hydraulic channel, subcritical regime, supercritical flow

Procedia PDF Downloads 310

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 308

Authors: Shanko Chura Aredo, Hailu Jeldie Wodajo, Muktar Jeylan, Kedir Ilka, Abdulnasir Husein

Abstract:

Toll-free numbers are calling numbers that have unique three or four digit numbers and that don’t require payment from phone lines in order to be called. With the help of these numbers, callers can connect with nearby organizations and/or people without incurring far-reaching fees. Calls to assistance centers are especially popular from toll-free phones. In the past, toll-free services have offered prospective clients and other parties a simple and cost-free means of getting in touch with enterprises. Nevertheless, unless they have an ”unlimited calling” plan, wireless subscribers will be billed for the airtime minutes used during a toll-free call. In Adama, the second largest city in Ethiopia, a call center has been installed as part of smart security system and serving since January 2023 for collection of complaints from different community levels. The call center is situated at the mayor office and has 11 active workers, 4 of these working the night time and the remaining during day time. The information reported in the form of complaints from individuals and groups are illegal constructions, illegal trade, income concealment or hiding, giving and receiving bribe, informing new faces of suspected enemies and exposing individual or group conflicts. This technology has been found to bring a significant outcome in minimizing illegal acts, public safety threats and service delivery problems.

Keywords: smart, safety, crime, call center, security

Procedia PDF Downloads 58

Authors: Johann Valentowitsch, Wolfgang Burr

Abstract:

In organizational research, strategies of exploration and exploitation are often considered to be contradictory. Building on the tradeoff argument, many authors have assumed that a company's market performance should be positively dependent on its strategic balance between exploration and exploitation over time. In this study, we apply this reasoning to the pharmaceutical industry. Using exploratory regression analysis we show that the long-term market performance of a pharmaceutical company is linked to both its ability to carry out exploratory projects and its ability to develop exploitative competencies. In particular, our findings demonstrate that, on average, the company's annual sales performance is higher the better the strategic alignment between exploration and exploitation is balanced. The contribution of our research is twofold. On the one hand, we provide empirical evidence for the initial tradeoff hypothesis and thus support the theoretical position of those who understand exploration and exploitation as strategic substitutes. On the other hand, our findings show that a balanced relationship between exploration and exploitation is also important in research-intensive industries, which naturally tend to place more emphasis on exploration.

Keywords: exploitation, exploration, market performance, pharmaceutical industry, strategy

Procedia PDF Downloads 223

Authors: Ishak Hashim, Ammar Alsabery

Abstract:

The problem of conjugate free convection in a square cavity filled with nanofluid and heated from below by spatial wall temperature is studied numerically using the finite difference method. Water-based nanofluid with copper nanoparticles are chosen for the investigation. Governing equations are solved over a wide range of nanoparticle volume fraction (0 ≤ φ ≤ 0.2), wave number ((0 ≤ λ ≤ 4) and thermal conductivity ratio (0.44 ≤ Kr ≤ 6). The results presented for values of the governing parameters in terms of streamlines, isotherms and average Nusselt number. It is found that the flow behavior and the heat distribution are clearly enhanced with the increment of the non-uniform heating.

Keywords: conjugate free convection, square cavity, nanofluid, spatial temperature

Procedia PDF Downloads 365

Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab

Abstract:

Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.

Keywords: capital employed, human capital, intellectual capital, market-to-book value, structural capital, value added efficiency

Procedia PDF Downloads 380

Authors: Günther Schuh, Christina König, Toni Drescher

Abstract:

One of the key factors for the competitiveness and market success of technology-driven companies is the timely provision of information about emerging technologies, changes in existing technologies, as well as relevant related changes in the market's structures and participants. Therefore, many companies conduct technology intelligence (TI) activities to ensure an early identification of appropriate technologies and other (weak) signals. One base activity of TI is technology monitoring, which is defined as the systematic tracking of developments within a specified topic of interest as well as related trends over a long period of time. Due to the very large number of dynamically changing parameters within the technological and the market environment of a company as well as their possible interdependencies, it is necessary to focus technology monitoring on specific indicators or other criteria, which are able to point out technological developments and market changes. In addition to the execution of a literature review on existing approaches, which mainly propose patent-based indicators, it is examined in this paper whether indicator systems from other branches such as risk management or economic research could be transferred to technology monitoring in order to enable an efficient and focused technology monitoring for companies.

Keywords: technology forecasting, technology indicator, technology intelligence, technology management, technology monitoring

Procedia PDF Downloads 475

Authors: Somnath Karmakar, S. Chakraverty

Abstract:

This work investigates the vibration of nonhomogeneous Timoshenko nanobeam resting on the Winkler-Pasternak foundation. Eringen’s nonlocal theory has been used to investigate small-scale effects. The Differential Quadrature method is used to obtain the frequency parameters with various classical boundary conditions. The nonhomogeneous beam model has been considered, where Young’s modulus and density of the beam material vary linearly and quadratically. Convergence of frequency parameters is also discussed. The influence of mechanical properties and scaling parameters on vibration frequencies are investigated for different boundary conditions.

Keywords: Timoshenko beam, Eringen's nonlocal theory, differential quadrature method, nonhomogeneous nanobeam

Procedia PDF Downloads 117

Authors: Victor Romanov, Daria Efimenko

Abstract:

The focus on innovation in modern economy is the main factor in surviving business in a competitive environment. The innovations are based on the search and use of knowledge in a global context. Nowadays consumers and market demand are the main innovation drivers. This leads to build a business as a system with feedback, promptly restructuring production and innovation implementation in response to market demands. In modern knowledge economy, because of speed of technical progress, the product's lifecycle became much shorter, what makes more stringent requirements for innovation implementation on the enterprises of and therefore the possibility for enterprise for receiving extra income is decreasing. This circumstance imposes additional requirements for the replacement of obsolete products and the prompt release of innovative products to the market. The development of information technologies has led to the fact that only in the conditions of partnership and knowledge sharing with partners it is possible to update products quickly for innovative products. Many companies pay attention to updating innovations through the search for new partners, but the task of finding new partners presents some difficulties. The search for a suitable one includes several stages such as: determining the moment of innovation-critical, introducing a search, identifying search criteria, justifying and deciding on the choice of a partner. No less important is the question of how to manage an innovative product in response to a changing market. The article considers the problems of information support for the search for the source of innovation and partnership to decrease the time for implementation of novelty products.

Keywords: partnership, novelty, market feedback, alliance

Procedia PDF Downloads 197

Authors: Hirreche Baghdad Mohamed

Abstract:

Our research is linked to cultural policies because the initiation to taste and beauty is a matter for all cultural and educational institutions. It's done by a downstream process (programs, actions, lessons, etc.) that begins at a young age in order to inscribe aesthetic values in memories, imaginations, and practices. Preparing future art lovers probably takes a lot of time. Upstream, continuity is ensured by the "cultural industries" which make cultural products available to actors in the "art market" through professional training, production, dissemination, and sales processes. It turns out that the cultural industries borrow from the "classical" industries the same processes and logic: product, production, marketing, diffusion, profit and profits, supply and demand, the market, the creation of wealth, the entrepreneurship. Today, culture has become a product almost like the others. In the cultural industries system, we protect the rights of authors (owners) and the rights of intermediaries (entrepreneurs of culture), and we provide consumers with an accessible product that meets their needs and expectations. We aim to present an inventory and to reveal, through the speeches of the actors themselves, the processes and modes of operation and deployment of the plastic arts market by showing how it is perceived, imagined, and lived in the city of 'Oran from the 2000s to the present day. However, it is possible to clarify this field of research by looking at previous periods; and even to make comparisons with other regions in Algeria in order to give meaning to practices in various contexts.

Keywords: Oran, Algeria, fine art, art market

Procedia PDF Downloads 127

Authors: Shu-Hui Chuang, Shao-Chun Chiu, Shu-Hsin Chuang

Abstract:

While the marketing management literature is regarding the direct benefits of market orientation (MO) on firm value, the impact of such MO-based value co-creation remains largely an unexplored area of research. Thus, the primary objective of this study is to provide some new perspectives in examining how MO can enhance value co-creation for customers and sellers. In particular, drawing from the relational view of the firm and IT literature, we propose that the chain of MO-based co-creation of value and how adopt e-marketing systems between partners can facilitate this chain. Using data on use of the e-marketing system, we empirically validate that the sellers’ integrated MO is critical in increasing the e-marketing adoption, which in turn helps to creation co-creation value for both parties.

Keywords: market orientation, value co-creation, e-marketing system, relational view of the firm

Procedia PDF Downloads 532

Authors: Joe Price LeClair

Abstract:

The study aims to comprehend the universe and its geometric representation by exploring the relationship between gravity, hydrogen, and neutrons. The purpose is to understand the neutrons' relationship to hydrogen to add geometric stability to the universe. Through the use of logic, deductive reasoning, and data collection from the free net, the study brings clarity to the understanding of the geometry of the universe. The study provides insight into the fundamental mechanics and forces to display the relationship between hydrogen and the neutron and how it translates to gravity. In conclusion, the study offers a unique perspective on the fundamental forces that contribute to the understanding of the geometry of our universe.

Keywords: geometric string mechanics, gravity, hydrogen, neutron

Procedia PDF Downloads 17

Authors: Kuo-Wei Liao, Jessica Gitomarsono

Abstract:

Bridge reliability against natural hazards such as floods or earthquakes is an interdisciplinary problem that involves a wide range of knowledge. Moreover, due to the global climate change, engineers have to design a structure against the multi-hazard threats. Currently, few of the practical design guideline has included such concept. The bridge foundation in Taiwan often does not have a uniform width. However, few of the researches have focused on safety evaluation of a bridge with a complex pier. Investigation of the scouring depth under such situation is very important. Thus, this study first focuses on investigating and improving the scour prediction formula for a bridge with complicated foundation via experiments and artificial intelligence. Secondly, a probabilistic design procedure is proposed using the established prediction formula for practical engineers under the multi-hazard attacks.

Keywords: bridge, reliability, multi-hazards, scour

Procedia PDF Downloads 377

Authors: Konstantinos Kottikas, Vlasis Stathakopoulos, Ioannis G. Theodorakis, Efthymia Kottika

Abstract:

Theorists have argued that Market Orientation is comprised of two facets, namely the Market Driven and the Market Driving components. The present theoretical paper centers on the latter, which to date has been notably under-investigated. The term Market Driving (MD) pertains to influencing the structure of the market, or the behavior of market players in a direction that enhances the competitive edge of the firm. Presently, the main objectives of the paper are the specification of key antecedents and outcomes of Market Driving behavior. Market Driving firms behave proactively, by leading their customers and changing the rules of the game rather than by responding passively to them. Leading scholars were the first to conceptually conceive the notion, followed by some qualitative studies and a limited number of quantitative publications. However, recently, academicians noted that research on the topic remains limited, expressing a strong necessity for further insights. Concerning the key antecedents, top management’s Transformational Leadership (i.e. the form of leadership which influences organizational members by aligning their values, goals and aspirations to facilitate value-consistent behaviors) is one of the key drivers of MD behavior. Moreover, scholars have linked the MD concept with Entrepreneurship. Finally, the role that Employee’s Creativity plays in the development of MD behavior has been theoretically exemplified by a stream of literature. With respect to the key outcomes, it has been demonstrated that MD Behavior positively triggers firm Performance, while theorists argue that it empowers the Competitive Advantage of the firm. Likewise, researchers explicate that MD Behavior produces Radical Innovation. In order to test the robustness of the proposed theoretical framework, a combination of qualitative and quantitative methods is proposed. In particular, the conduction of in-depth interviews with distinguished executives and academicians, accompanied with a large scale quantitative survey will be employed, in order to triangulate the empirical findings. Given that it triggers overall firm’s success, the MD concept is of high importance to managers. Managers can become aware that passively reacting to market conditions is no longer sufficient. On the contrary, behaving proactively, leading the market, and shaping its status quo are new innovative approaches that lead to a paramount competitive posture and Innovation outcomes. This study also exemplifies that managers can foster MD Behavior through Transformational Leadership, Entrepreneurship and recruitment of Creative Employees. To date, the majority of the publications on Market Orientation is unilaterally directed towards the responsive (i.e. the Market Driven) component. The present paper further builds on scholars’ exhortations, and investigates the Market Driving facet, ultimately aspiring to conceptually integrate the somehow fragmented scientific findings, in a holistic framework.

Keywords: entrepreneurial orientation, market driving behavior, market orientation

Procedia PDF Downloads 387

Authors: Abdelmounaim Lahrech, Hajar Bousfiha

Abstract:

This paper examines equity market integration between Morocco and France and its consequent implications on international portfolio diversification. In the absence of stock market linkages, Morocco can act as a diversification destination to European investors, allowing higher returns at a comparable level of risk in developed markets. In contrast, this attractiveness is limited if both financial markets show significant linkage. The research empirically measures financial market’s integration in by capturing the conditional correlation between the two markets using the Generalized Autoregressive Conditionally Heteroscedastic (GARCH) model. Then, the research uses the Dynamic Conditional Correlation (DCC) model of Engle (2002) to track the correlations. The research findings show that there is no important increase over the years in the correlation between the Moroccan and the French equity markets, even though France is considered Morocco’s first trading partner. Failing to prove evidence of the stock index linkage between the two countries, the volatility series of each market were assumed to change over time separately. Yet, the study reveals that despite the important historical and economic linkages between Morocco and France, there is no evidence that equity markets follow. The small correlations and their stationarity over time show that over the 10 years studied, correlations were fluctuating around a stable mean with no significant change at their level. Different explanations can be attributed to the absence of market linkage between the two equity markets.

Keywords: equity market linkage, DCC GARCH, international portfolio diversification, Morocco, France

Procedia PDF Downloads 443

Authors: P. Deepak Kumar, P. R. Maiti

Abstract:

In recent years, sediment scour near bridge piers and abutment is a serious problem which causes nationwide concern because it has resulted in more bridge failures than other causes. Scour is the formation of scour hole around the structure mounted on and embedded in erodible channel bed due to the erosion of soil by flowing water. The formation of scour hole around the structures depends upon shape and size of the pier, depth of flow as well as angle of attack of flow and sediment characteristics. The flow characteristics around these structures change due to man-made obstruction in the natural flow path which changes the kinetic energy of the flow around these structures. Excessive scour affects the stability of the foundation of the structure by the removal of the bed material. The accurate estimation of scour depth around bridge pier is very difficult. The foundation of bridge piers have to be taken deeper and to provide sufficient anchorage length required for stability of the foundation. In this study, computational model simulations using a 3D Computational Fluid Dynamics (CFD) model were conducted to examine the mechanism of scour around a cylindrical pier. Subsequently, the flow characteristics around these structures are presented for different flow conditions. Mechanism of scouring phenomenon, the formation of vortex and its consequent effect is discussed for a straight channel. Effort was made towards estimation of scour depth around bridge piers under different flow conditions.

Keywords: bridge pier, computational fluid dynamics, multigrid, pier shape, scour

Procedia PDF Downloads 299

Authors: Nurzahidah Haji Jaapar, Anis Husna Abdul Halim, Mohd Faiz Mohamed Yusof, Mohd Dani Muhamad, Sharifah Fadylawaty Syed Abdullah

Abstract:

The growing size of Muslim is recognised with significant increasing of purchasing power in the market. The realm of trade and business has embedded religious values as the new market segments are emerging in offering food products to meet needs and demands of Muslim consumer. The emergence of new market in food industry, advertising is charged with all sort of negative effects includes promoting controversial unsafety and harmful products, wasteful spending and exploiting women and kids. Therefore, this research attempts to examine between previous examinations of advertising standardisation in ancient era and current practices in the market. This paper is based on content analysis of the literature. The results show that there are a bridge gap between the implementation of practices as the advent in industrial 4.0 in using digital advertising by food industry. Thus, this paper is able to recognize the differences between two era and significant in determining the best practices in advertising by following Islamic principles.

Keywords: Islamic advertising, unethical advertising, ethical advertising, Islamic principles

Procedia PDF Downloads 155

Authors: V. Geza, J. Vencels, G. Zageris, S. Pavlovs

Abstract:

One of the most perspective methods to produce SoG-Si is refinement via metallurgical route. The most critical part of this route is refinement from boron and phosphorus. Therefore, a new approach could address this problem. We propose an approach of creating surface waves on silicon melt’s surface in order to enlarge its area and accelerate removal of boron via chemical reactions and evaporation of phosphorus. A two dimensional numerical model is created which includes coupling of electromagnetic and fluid dynamic simulations with free surface dynamics. First results show behaviour similar to experimental results from literature.

Keywords: numerical modelling, silicon refinement, surface waves, VOF method

Procedia PDF Downloads 257

Authors: Kalinga Jagoda

Abstract:

With changing population demographics and consumer preferences, specialty crops present significant opportunities for Ontario agri-businesses to develop niche markets. However, the greater rewards offered by such opportunities come with comparable challenges that are driven by specific productmarket attributes, as well as supply and demand-side factors, including certain risks. Thus, initiatives to promote and support such sectors need to be informed by an understanding of the impact of these product-market and industry specific factors on supply chain development. To this end, this project proposes to map selected specialty crops supply chains, using a suite of tested methodological approaches to evaluate their market potential, considering total supply chain costs, lead times and responsiveness. The project will deliver comprehensive supply chain maps identifying the points of value addition and value capture that are of benefit to key stakeholders for the purposes of developing policy interventions, conducting market appraisals and identifying industry best practices.

Keywords: supply chain management, hazelnut industry, supply chain maps, market opportunity

Procedia PDF Downloads 55

Authors: Heesu Kim

Abstract:

This paper determines the varieties of state roles played in East Asia’s telecommunication market, regarding broadband industry. Technological capacity and the relationship between state and market affect the varieties of state role. In explaining the state’s engagement in the market, technology has always been considered as a necessary and sufficient condition. However technology variable has been useful in only explaining the extent of state’s involvement. This paper contributes by bringing in the political-economic factor, which is the relationship between state and market. This factor aids in distinguishing the varieties of state role played in emerging industries. Interaction between these two variables distinguishes 4 types of state roles played in the broadband industry. These roles are distinguished and characterized by the intensity of state’s intervention and the existence of technological capacity. This paper classifies four types of state role through the case of Singapore, China, Taiwan and Korea’s broadband industrial policy.

Keywords: East Asia, entrpreneurial state, industrial policy, regulatory state, technological capacity

Procedia PDF Downloads 177

Authors: M. Boumaiza, S. Mohamadi, B. Moussai

Abstract:

In this article the study of the seismic response of an earth dam with sealing walls has been made by introducing the effect of the change of position and depth of the sealing wall and the effect of non-linear behavior of soil of the foundation by taking into account the variation of the viscous damping and shear modulus in each layer of soil on the seismic response of the dam. As a case study, we take the Algerian dam Kef-Eddir which lies in the far west of the territory of the Wilaya of Tipaza (wadi Eddamous), classified according to the RPA 2003 as a high seismicity zone (zone III). With a height of 71m above the foundation and a width of 478m. The seismic event applied to the rock, is the earthquake of Chenoua (29 October, 1989), with a magnitude Mw=6 that hit the region.

Keywords: earth dam, earthquake, sealing walls, viscous damping

Procedia PDF Downloads 610

Authors: Aleksandar Savanović

Abstract:

In this paper we will analyze the relationship between the neo-liberal concept of property rights and redistribution policy. This issue is back in the focus of interest due to the crisis 2008. The crisis has reaffirmed the influence of the state on the free-market processes. The interference of the state with property relations re-opened a classical question: is it legitimate to redistribute resources of a man in favor of another man with taxes? The dominant view is that the neoliberal philosophy of natural rights is incompatible with redistributive measures. In principle, this view can be accepted. However, when we look into the details of the theory of natural rights proposed by some coryphaei of neoliberal philosophy, such as Hayek, Nozick, Buchanan and Rothbard, we can see that it is not such an unequivocal view.

Keywords: economic neoliberalism, natural law, property, redistribution

Procedia PDF Downloads 380

Authors: Ali Abu Ali, Mohammad Salhab

Abstract:

Introduction: In the Middle East and North Africa (MENA) microfinance struggles to find momentum. The Lebanese economy has been struggling through the years due to domestic and external, political and social instability. Although as of 2014 there are around 23 MFIs that are mainly subsidized by the USAID, operating in the country, the Lebanese microfinance market is mostly dominated by three microfinance institutions: Al Majmoua, Vitas, and Al Quard Al Hassan Association. Methodology: A quantitative approach using a standardized questionnaire would analyse the perception of the average Lebanese towards microfinance. A questionnaire was designed and validated. Results: Almost half of the respondents earn a monthly income ranged between $100 and $600. Almost 52% of the respondents were university graduates, around 25% finished secondary and high school, and 12% hold a masters or MBA degree. Topic understanding towards microfinance differs across Lebanese areas. The highest percentage of respondents who claim that microfinance offers financial services to low income people are the residents of Beirut (35.1%), Bekaa (30.8%), and South of Lebanon (24.7%). Higher levels of topic understanding were associated with lower levels of age range. Al Quard el Hassan foundation was regarded as the most known micro financial institution operating in Lebanon. In general, Lebanese people tend to believe that microfinance can play an important role in reducing unemployment rates and poverty levels in Lebanon. When people were asked what would motivate you to get a loan from MFIs, most of the respondent (57.4%) across all the Lebanese region claimed that it was the need for money to satisfy a need such as paying back a loan, to fix something at home, or for self-consideration like buying a car. Conclusion: Our findings showed that in general Lebanese tend to have a positive perception towards microfinance. However, most Lebanese perceive microfinance as the process of just providing loans without specifying for whom it is intended. We advise that government introduces laws to regulate the microfinance market.

Keywords: microfinance, economics, finance, business, analysis, theory

Procedia PDF Downloads 282