Search results for: company’s balance sheet

Authors: Wee Tong Liaw, Elaine Wong Yee Sing

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Since 2001, many companies in Singapore have voluntarily participated in the bi-annual Singapore HEALTH Award initiated by the Health Promotion Board of Singapore (HPB). The Singapore HEALTH Award (SHA), is an industry wide award and assessment process. SHA assesses and recognizes employers in Singapore for implementing a comprehensive and sustainable health promotion programme at their workplaces. The rationale for implementing a sustained health promoting workplace and participating in SHA is obvious when company management is convinced that healthier employees, business productivity, and profitability are positively correlated. However, performing research or empirical studies on the impact of a sustained health promoting workplace on stock returns are not likely to yield any interests in the absence of a systematic and independent assessment on the comprehensiveness and sustainability of a health promoting workplace in most developed economies. The principles of diversification and mean-variance efficient portfolio in Modern Portfolio Theory developed by Markowitz (1952) laid the foundation for the works of many financial economists and researchers, and among others, the development of the Capital Asset Pricing Model from the work of Sharpe (1964), Lintner (1965) and Mossin (1966), and the Fama-French Three-Factor Model of Fama and French (1992). This research seeks to support the rationale by studying whether there is a significant relationship or impact of a sustained health promoting workplace on the performance of companies listed on the SGX. The research shall form and test hypotheses pertaining to the impact of a sustained health promoting workplace on company’s performances, including stock returns, of companies that participated in the SHA and companies that did not participate in the SHA. In doing so, the research would be able to determine whether corporate and fund manager should consider the significance of a sustained health promoting workplace as a risk factor to explain the stock returns of companies listed on the SGX. With respect to Singapore’s stock market, this research will test the significance and relevance of a health promoting workplace using the Singapore Health Award as a proxy for non-diversifiable risk factor to explain stock returns. This study will examine the significance of a health promoting workplace on a company’s performance and study its impact on stock price performance and beta and examine if it has higher explanatory power than the traditional single factor asset pricing model CAPM (Capital Asset Pricing Model). To study the significance there are three key questions pertinent to the research study. I) Given a choice, would an investor be better off investing in a listed company with a sustained health promoting workplace i.e. a Singapore Health Award’s recipient? II) The Singapore Health Award has four levels of award starting from Bronze, Silver, Gold to Platinum. Would an investor be indifferent to the level of award when investing in a listed company who is a Singapore Health Award’s recipient? III) Would an asset pricing model combining FAMA-French Three Factor Model and ‘Singapore Health Award’ factor be more accurate than single factor Capital Asset Pricing Model and the Three Factor Model itself?

Keywords: asset pricing model, company's performance, stock prices, sustained health promoting workplace

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Authors: Farzam Chakherlouy, Amirmehdi Dokhanchi

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Nowadays organizations have to identify, evaluate and manage intangible assets which enable them to provide maximum requirements to achieve their goals and strategies. Organizations also have to try to promote and improve these kinds of assets continuously. It seems necessary to implement developed strategies in today’s competitive world where all the organizations and companies spend great amounts of expenses for developing their own strategies. In fact, after determining strategies to be implemented, the management process is not completed and it will not have any effect on the success and existence of the organization until these strategies are implemented. The objective of this article is to define the intellectual capital and it components and studying the impact of intellectual capital on the implementation of strategy based upon the Bozbura model. Three dimensions of human capital, relational capital, and the structural capital. According to the test’s results, the correlation between the intellectual capital and three components of strategic implementation (leadership, human resource management, and culture) has not been approved yet. According to results of Friedman’s test in relation with the intellectual capital, the maximum inadequacy of this company is in the field of human capital (with an average of 3.59) and the minimum inadequacy is in the field of the relational capital (customer) with an average of 2.83. Besides, according to Friedman test in relation with implementation of the strategy, the maximum inadequacy relates to the culture of the organization and the corporate control with averages of 2.60 and 3.45 respectively. In addition, they demonstrate a good performance in scopes of human resources management and financial resources management strategies.

Keywords: Bozbura model, intellectual capital, strategic management, implementation of strategy, Modiran Ideh Pardaz company

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Authors: Min Wei

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With the rapid development eco-tourism resources exploitation, the conflict between economy development and ecological environment is increasingly prominent. The environmental protection laws, however, are lack of necessary legal support to use market mechanism and economic means to carry out ecological compensation and promote the environmental protection. In order to protect the sustainable utilization of eco-tourism resources and the benign development of the interests of various stakeholders, protection of ecological compensation balance should be put on schedule. The main role of institutional guarantee in eco-tourism resources' value compensation mechanism is to solve the question 'how to guarantee compensation'. The evaluation of the game model in this paper reveals that interest balance of stakeholders is an important cornerstone to obtain the sustainable development. The findings result in constructing a sustainable development pattern of eco- tourism industry based on tripartite game equilibrium among government, tourism enterprises and tourists. It is important that the social, economic and ecological environment should be harmonious development during the pursuit of eco-tourism growth.

Keywords: environmental protection, ecological compensation, eco-tourism, market mechanism

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Authors: Meltem Karatepe Kaya

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

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

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Authors: Hamid Hanifi, Adel Azar, Alireza Booshehri

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In order to know about the capability level of R & D units in automotive industry, it is essential that organizations always compare themselves with standard level and higher than themselves so that to be improved continuously. In this research, with respect to the importance of this issue, we have tried to present an assessment model for R & D capabilities having reviewed on new products development in automotive industry of Iran. Iran Khodro Company was selected for the case study. To this purpose, first, having a review on the literature, about 200 indicators effective in R & D capabilities and new products development were extracted. Then, of these numbers, 29 indicators which were more important were selected by industry and academia experts and the questionnaire was distributed among statistical population. Statistical population was consisted of 410 individuals in Iran Khodro Company. We used the 410 questionnaires for exploratory factor analysis and then used the data of 308 questionnaires from the same population randomly for confirmatory factor analysis. The results of exploratory factor analysis led to categorization of dimensions in 9 secondary dimensions. Naming the dimensions was done according to a literature review and the professors’ opinion. Using structural equation modeling and AMOS software, confirmatory factor analysis was conducted and ultimate model with 9 secondary dimensions was confirmed. Meanwhile, 9 secondary dimensions of this research are as follows: 1) Research and design capability, 2) Customer and market capability, 3) Technology capability, 4) Financial resources capability, 5) Organizational chart, 6) Intellectual capital capability, 7) NPD process capability, 8) Managerial capability and 9) Strategy capability.

Keywords: research and development, new products development, structural equations, exploratory factor analysis, confirmatory factor analysis

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Authors: Shiuh-Jer Huang, Su-Shean Chen, Sheam-Chyun Lin

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Two-wheel inverted pendulum robot (TWIPR) is designed with two-hub DC motors for human riding and motion control evaluation. In order to measure the tilt angle and angular velocity of the inverted pendulum robot, accelerometer and gyroscope sensors are chosen. The mobile robot’s moving position and velocity were estimated based on DC motor built in hall sensors. The control kernel of this electric mobile robot is designed with embedded Arduino Nano microprocessor. A handle bar was designed to work as steering mechanism. The intelligent model-free fuzzy sliding mode control (FSMC) was employed as the main control algorithm for this mobile robot motion monitoring with different control purpose adjustment. The intelligent controllers were designed for balance control, and moving speed control purposes of this robot under different operation conditions and the control performance were evaluated based on experimental results.

Keywords: balance control, speed control, intelligent controller, two wheel inverted pendulum

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Authors: J. R. Wang, Y. Chiang, W. Y. Li, H. T. Lin, H. C. Chen, C. Shih, S. W. Chen

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The dry-storage systems of nuclear power plants (NPPs) in Taiwan have become one of the major safety concerns. There are two steps considered in this study. The first step is the verification of the TRACE by using VSC-17 experimental data. The results of TRACE were similar to the VSC-17 data. It indicates that TRACE has the respectable accuracy in the simulation and analysis of the dry-storage systems. The next step is the application of TRACE in the dry-storage system of Kuosheng NPP (BWR/6). Kuosheng NPP is the second BWR NPP of Taiwan Power Company. In order to solve the storage of the spent fuels, Taiwan Power Company developed the new dry-storage system for Kuosheng NPP. In this step, the dry-storage system model of Kuosheng NPP was established by TRACE. Then, the steady state simulation of this model was performed and the results of TRACE were compared with the Kuosheng NPP data. Finally, this model was used to perform the safety analysis of Kuosheng NPP dry-storage system. Besides, FRAPTRAN was used tocalculate the transient performance of fuel rods.

Keywords: BWR, TRACE, FRAPTRAN, dry-storage

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Authors: Kawinphat Lertpontmanee

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The tourism industry in Thailand is regarded as an energizer of the domestic economy for several years. With this reason, researchers aim to study Visitor Expectation on a Tour Guide Business as part of promoting the Sustainability Tourism in Thailand. The study collected data via questionnaires from the population of 400 samples who have experienced the tour guide and traveling business. The research was studied by divided samples into two main groups, male samples and female sample. There are differences on their average salary per month and expectation on the tour company as part of promoting the Sustainability Tourism of the country. The majority of samples expect that the tour guide company will present the awareness of operating their business without any impact to the environment, offering an appropriated quality trips and offering a valuable price. The tour guide companies were expected to be expanded and operated in regional level in order to strengthen the community economy.

Keywords: expectation, tour guide business, sustainability tourism, sightseeing business

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Authors: Kevin Smith

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

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

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Authors: Salami Akeem Olanrewaju

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The transportation models or problems are primarily concerned with the optimal (best possible) way in which a product produced at different factories or plants (called supply origins) can be transported to a number of warehouses or customers (called demand destinations). The objective in a transportation problem is to fully satisfy the destination requirements within the operating production capacity constraints at the minimum possible cost. The objective of this study is to determine ways of minimizing transport cost in order to maximum profit. Data were gathered from the records of the Distribution Department of 7-Up Bottling Company Plc. Ilorin, Kwara State, Nigeria. The data were analyzed using SPSS (Statistical Package for Social Sciences) while applying the three methods of solving a transportation problem. The three methods produced the same results; therefore, any of the method can be adopted by the company in transporting its final products to the wholesale dealers in order to minimize total production cost.

Keywords: cost minimization, resources utilization, distribution system, allocation problem

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Authors: Kyujin Shim, Soojin Kim

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This study identifies and examines the impact of factors on two types of CSR outcomes, consumers’ perceptions of corporate authenticity and their pro-firm behavior intentions. Specifically we investigated the roles of two factors - the consumers’ perceptions of CSR motives of a company (i.e. business-oriented vs. society-oriented) and their ethical orientations (i.e. deontology vs. consequentialism). A web-based survey was conducted in South Korea and the United States respectively to compare the differences of consumer reactions between the two countries. The results show that consumers in two countries behave differently to a firm’s CSR motives. In the United States, when consumers perceive a company’s CSR motive as society-oriented, they are more likely to perceive the company authentic and as a result more likely to engage in pro-firm behavior. However, when consumers’ ethical orientation is considered, only consumers’ consequential orientation led to their pro-firm behavioral intention. In South Korea, interpretation of two different CSR motives affects the valence in consumers’ perceptions of corporate authenticity (i.e. society-oriented CSR motive and positive perception of corporate authenticity vs. business-oriented CSR motive and negative perception of corporate authenticity). Korean consumers also showed same pattern in terms of relationship among society-oriented CSR motive, perception of corporate authenticity, and pro-firm behavior intention. Interestingly, Korean consumers’ consequential orientation affects both their perception of corporate authenticity and their pro-firm behavior intention positively. In addition, there was an interaction effect of business-oriented CSR motive and deontological orientation on perception of corporate authenticity. Theoretical and practical implications will be discussed.

Keywords: corporate authenticity, corporate social responsibility, consequentialist ethics, CSR motives, deontological ethics

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Authors: Septiany Trisnaningtyas

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Purpose: This research aims to examine the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia. A sharp decline in the number of patients coming to the hospital for treatment during the pandemic has an impact on the growth of the pharmaceutical sector and brought major changes in financial position and business performance. Pharmaceutical companies that provide products related to the Covid-19 pandemic can survive and continue to grow. This study investigates the factors affecting the profitability of pharmaceutical company during the Covid-19 Pandemic in Indonesia associated with the number of Covid-19 cases. Design/methodology/approach: This study uses panel-data regression models to evaluate the influence of the number of Covid-19 confirmed cases on profitability of ninelisted pharmaceuticalcompanies in Indonesia. This research is based on four independent variables that were empirically examined for their relationship with profitability. These variables are liquidity (current ratio), growth rate (sales growth), firm size (total sales), and market power (the Lerner index). Covid-19 case is used as moderating variable. Data of nine pharmaceutical companies listed on the Indonesia Stock Exchange covering the period of 2018–2021 were extracted from companies’ quarterly annual reports. Findings: In the period during Covid-19, company growth (sales growth) and market power (lerner index) have a positive and significant relationship to ROA and ROE. Total of confirmed Covid-19 cases has a positive and significant relationship to ROA and is proven to have a moderating effect between company’s growth (sales growth) to ROA and ROE and market power (Lerner index) to ROA. Research limitations/implications: Due to data availability, this study only includes data from nine listed pharmaceutical companies in Indonesian Stock exchange and quarterly annual reportscovering the period of 2018-2021. Originality/value: This study focuses onpharmaceutical companies in Indonesia during Covid-19 pandemic. Previous study analyzes the data from pharmaceutical companies’ annual reports since 2014 and focus on universal health coverage (national health insurance) implementation from the Indonesian government. This study analyzes the data using fixed effect panel-data regression models to evaluate the influence of Covid-19 confirmed cases on profitability. Pooled ordinary least squares regression and fixed effects were used to analyze the data in previous study. This study also investigate the moderating effect of Covid-19 confirmed cases to profitability in relevant with the pandemic situation.

Keywords: profitability, indonesia, pharmaceutical, Covid-19

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Authors: Azadeh Askari, Ali Nasery Mohamad Abadi

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The present study was conducted to investigate the relationship between career anchors and job satisfaction with emphasis on the mediating role of person-job fit. 502 managers and supervisors of ten operational areas of a large energy Company were selected as a cluster sample appropriate to the volume. The instruments used in this study were Career Anchor Questionnaire, Job Satisfaction Questionnaire and Person-job fit Questionnaire. Pearson correlation coefficient was used to analyze the data and AMOS software was used to determine the effect of career anchor variables and person-job fit on job satisfaction. Anchors of service and dedication, pure challenge and security and stability increase the person-job fit among managers and also the person-job fit plays a mediating role in relation to the effect it has on job satisfaction through these anchors. In contrast, the anchors of independence and autonomy reduce the person-job fit. Considering the importance of positive organizational attitudes and in order to have an optimal fit between job and worker, it is better that in human resources processes such as hiring and employing, the career anchors of the person should be considered so that the person can have more job satisfaction; and thus bring higher productivity for themselves and the organization.

Keywords: career anchor, job satisfaction, person-job fit, energy company, managers

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Authors: Ehsan Daryadel, Hamid Shakeri

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Good governance is considered as one of the necessary prerequisites for promotion of sustainable development programs in countries. Theoretical model of good governance is going to form the best methods for administration and management of subject country. The importance of maintaining the balance between the needs of present and future generation through sustainable development caused a change in method of management and providing service for citizens that is addressed as the most efficient and effective way of administration of countries. This method is based on democratic and equal-seeking sustainable development which is trying to affect all actors in this area and also be accountable to all citizens’ needs. Meanwhile, it should be noted that good governance is a prerequisite for sustainable development. In fact, good governance means impact of all actors on administration and management of the country for fulfilling public services, general needs of citizens and establishing a balance and harmony between needs of present and future generation. In the present study, efforts have been made to present concepts, definitions, purposes and indices of good governance with a descriptive-analytical method.

Keywords: accountability, efficiency and effectiveness, good governance, rule of law, transparency

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Authors: Pius A. Onobhayedo, Eugene A. Ohu

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Nigeria has one of the fastest growing mobile telecommunications industry in the world. In the absence of fixed connection access to the Internet, access to the Internet is primarily via mobile devices. It, therefore, provides a test case for how to penetrate the mobile market in an emerging economy. We also hope to contribute to a sparse literature on strategies employed in building successful data-driven mobile businesses in emerging economies. We, therefore, sought to identify and analyse the strategic approach taken in a successful locally born mobile data-driven business in Nigeria. The analysis was carried out through the framework of strategic intent and competitive advantages developed from the conception of the company to date. This study is based on an exploratory investigation of an innovative digital company based in Nigeria specializing in the mobile advertising business. The projected growth and high adoption of mobile in this African country, coinciding with the smartphone revolution triggered by the launch of iPhone in 2007 opened a new entrepreneurial horizon for the founder of the company, who reached the conclusion that ‘the future is mobile’. This dream led to the establishment of three digital businesses, designed for convergence and complementarity of medium and content. The mobile Ad subsidiary soon grew to become a truly African network with operations and campaigns across West, East and South Africa, successfully delivering campaigns in several African countries including Nigeria, Kenya, South Africa, Ghana, Uganda, Zimbabwe, and Zambia amongst others. The company recently declared a 40% year-end profit which was nine times that of the previous financial year. This study drew from an in-depth interview with the company’s founder, analysis of primary and secondary data from and about the business, as well as case studies of digital marketing campaigns. We hinge our analysis on the strategic intent concept which has been proposed to be an engine that drives the quest for sustainable strategic advantage in the global marketplace. Our goal was specifically to identify the strategic intents of the founder and how these were transformed creatively into processes that may have led to some distinct competitive advantages. Along with the strategic intents, we sought to identify the respective absorptive capacities that constituted favourable antecedents to the creation of such competitive advantages. Our recommendations and findings will be pivotal information for anybody wishing to invest in the world’s fastest technology business space - Africa.

Keywords: Africa, competitive advantage, competitive strategy, digital, mobile business, marketing, strategic intent

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Authors: Maria Bashutkina

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In seeking to identify marketing factors that influence company’s performance, product management as well as new technology configuration, this study adopts resource based theory and applies it to the Swiss watchmaking companies. This paper presents results of qualitative research based on semi-structured interviews with CEO and marketing managers among watchmaking companies. This paper provides empirical evidences illustrating the link between the use of dynamic marketing capabilities and competitive advantage. We also present a set of propositions that outline how dynamic marketing capabilities could benefit product management and technological change in the Swiss independent watchmaking company, revealing competitive advantage in the highly competitive and turbulent market.

Keywords: dynamic marketing capabilities, luxury marketing, resource based theory, product management, Swiss watchmaking

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Authors: Payton Small

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In response to increasing demographic diversity, many U.S. organizations have implemented diversity initiatives to increase the representation of women and ethnic minorities. While these initiatives aim to promote more fair and positive outcomes for underrepresented minorities (URMs) widespread backlash against these policies can negatively impact the groups of individuals that are supposed to be supported by them. A recent theory-based analysis of best practices for instituting diversity policies proposes an "inclusion for all" approach that negotiates the oft-divergent goals and motivations of both marginalized and dominant group members in these contexts. Empirical work finds that "inclusion for all" strategies decrease White's tendency to implicitly associate diversity with exclusion and increased their personal endorsement of diversity initiatives. Similarly, Whites report higher belongingness when considering an inclusion for all approach to diversity versus a colorblind approach. While inclusion-for-all approaches may effectively increase Whites' responsiveness to diversity efforts, the downstream consequences of implementing these policies on URM's have yet to be explored. The current research investigated how inclusion-for-all diversity framing influences Whites' sensitivity to detecting discrimination against URM's as well as perceptions of reverse discrimination against Whites. Lastly, the current research looked at how URM's respond to inclusion-for-all diversity approaches. Three studies investigated the impact of inclusion-for-all diversity framing on perceptions of discrimination against Whites and URM's in a company setting. Two separate mechanisms by which exposure to an inclusion-for-all diversity statement might differentially influence perceptions of discrimination for URMs and Whites were also tested. In Studies 1 and 2, exposure to an inclusion-for-all diversity approach reduced Whites' concerns about reverse discrimination and heightened sensitivity to detecting discrimination against URM's. These effects were mediated by decreased concerns about zero-sum outcomes at the company. Study 3 found that racial minorities are concerned about increased discrimination at a company with an inclusion-for-all diversity statement and that this effect is mediated by decreased feelings of belonging at the company. In sum, companies that adopt an inclusion-for-all approach to diversity implementation reduce Whites' backlash and the negative downstream consequences associated with such backlash; however, racial minorities feel excluded and expect heightened experiences of discrimination at these same companies.

Keywords: diversity, intergroup relations, organizational social psychology, zero-sum

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Authors: Risna Wijayanti, Sumiati, Hanif Iswari

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This study aims to analyze the role of financial risk attitude as a mediation between financial knowledge and business growth. The ability of human resources in managing capital (financial literacy) can be a major milestone for a company's business to grow and build its competitive advantage. This study analyzed the important role of financial risk attitude in bringing about financial knowledge on corporate growth. There have been many discussions arguing that financial knowledge is one of the main abilities of corporate managers in determining the success of managing a company. However, a contrary argument of other scholars also enlightened that financial knowledge did not have a significant influence on corporate growth. This study used literatures' review to analyze whether there is another variable that can mediate the effect of financial knowledge toward corporate growth. Research mapping was conducted to analyze the concept of risk tolerance. This concept was related to people's risk aversion effects when making a decision under risk and the role of financial knowledge on changes in financial income. Understanding and managing risks and investments are complicated, in particular for corporate managers, who are always demanded to maintain their corporate growth. Substantial financial knowledge is extremely needed to identify and take accurate information for corporate financial decision-making. By reviewing several literature, this study hypothesized that financial knowledge of corporate managers would be meaningless without manager's courage to bear risks for taking favorable business opportunities. Therefore, the level of risk aversion from corporate managers will determine corporate action, which is a reflection of corporate-level investment behavior leading to attain corporate success or failure for achieving the company's expected growth rate.

Keywords: financial knowledge, financial risk attitude, corporate growth, risk tolerance

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Authors: Ivana Tadić, Željana Aljinović Barać, Nikolina Plazonić

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Living today in turbulent business environment forces companies to distinguish from each other, securing sustainable competitive growth and competitive advantage. The best possible solution is to invest (effort and financial resources) within companies’ different practices of human resource management (HRM), more specifically in employees’ knowledge, skills and abilities. Applying this approach companies will create enviable level of human capital securing its economic growth. Employees become human capital for their employers at the moment when they contribute with their own knowledge and abilities in creating material and non-material value of the company. The main aim of this research is to explore the relations between human capital investments and business excellence of Croatian companies. Furthermore, the differences in the level of human capital investments with regard to several companies’ characteristics (e.g. size of the company, ownership and type of the industry) are investigated.

Keywords: business excellence, Croatian industries, human capital investments, human resource management

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Authors: Pedro Ferreira, Alexandre Frugoli, Pedro Frugoli, Lucio Leonardo, Thais Cavalheri

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The teaching of fluid mechanics in engineering courses is, in general, a source of great difficulties for learning. The possibility of the use of experiments with didactic wind tunnels can facilitate the education of future professionals. The objective of this proposal is the development of a low-cost aerodynamic balance to be used in a didactic wind tunnel. The set is comprised of an Arduino microcontroller, programmed by an open source software, linked to load cells built by students from another project. The didactic wind tunnel is 5,0m long and the test area is 90,0 cm x 90,0 cm x 150,0 cm. The Weq® electric motor, model W-22 of 9,2 HP, moves a fan with nine blades, each blade 32,0 cm long. The Weq® frequency inverter, model WEGCFW 08 (Vector Inverter) is responsible for wind speed control and also for the motor inversion of the rotational direction. A flat-convex profile prototype of airfoil was tested by measuring the drag and lift forces for certain attack angles; the air flux conditions remained constant, monitored by a Pitot tube connected to a EXTECH® Instruments digital pressure differential manometer Model HD755. The results indicate a good agreement with the theory. The choice of all of the components of this proposal resulted in a low-cost product providing a high level of specific knowledge of mechanics of fluids, which may be a good alternative to teaching in countries with scarce educational resources. The system also allows the expansion to measure other parameters like fluid velocity, temperature, pressure as well as the possibility of automation of other functions.

Keywords: aerodynamic balance, wind tunnel, strain gauge, load cell, Arduino, low-cost education

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Authors: Mehmet Ozturk, Serdal Akyuz, Halit Turan

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By the evolving technology, the nature of the war has been changed since the beginning of the history. In the first generation war, the bayonet came to the fore in battlefields; successively; in the second-generation firepower; in the third generation maneuver. Today, in the fourth-generation, fighters, sides, and even fighters’ borders are unclear; consequently, lines of the battles have lost their significance. Furthermore, the actors in the battles can be state or non-state, military, paramilitary or civilian. In order to change the balance according to their interests, parties have utilized the urban areas as warfare. The main reason for using urban areas as a battlefield is the imbalance between parties. To balance the power strength, exploiting technological developments has utmost importance. There are many newly developed technologies for urban warfare such as change in the size of the unmanned aerial vehicle, increased usage of unmanned ground vehicles (especially in supply and evacuation purposes), systems showing the behind of the wall, simulations used for educational purposes. This study will focus on the technological equipment being used for urban warfare.

Keywords: urban warfare, unmanned ground vehicles, technological developments, nature of the war

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Authors: Iis Diatin, Yani Hadiroseyani, Muhammad Mujahid, Ahmad Teduh, Juang R. Matangaran

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One of silica quarry managed by a mining company is located at Sukabumi District of West Java Province Indonesia with an area of approximately 70 hectares. Since 2013 this company stopped the mining activities. The company tries to restore the ecosystem post-mining with rehabilitation activities such as reclamation and revegetation of their ex-mining area. After three years planting the area the trees grown well. Not only planting some tree species but also some cover crop has covered the soil surface. There are two settling ponds located in the middle of the ex-mining area. Those settling pond were built in order to prevent the effect of acid mine drainage. Acid mine drainage (AMD) or the acidic water is created when sulphide minerals are exposed to air and water and through a natural chemical reaction produce sulphuric acid. AMD is the main pollutant at the open pit mining. The objective of the research was to analyze the effect of revegetation on water quality change at the settling pond. The physical and chemical of water quality parameter were measured and analysed at site and at the laboratory. Physical parameter such as temperature, turbidity and total organic matter were analyse. Also heavy metal and some other chemical parameter such as dissolved oxygen, alkalinity, pH, total ammonia nitrogen, nitrate and nitrite were analysed. The result showed that the acidity of first settling pond was higher than that of the second settling pond. Both settling pond water’s contained heavy metal. The turbidity and total organic matter were the parameter of water quality which become better after revegetation.

Keywords: acid mine drainage, ex-mining area, revegetation, settling pond, water quality

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Authors: Zue-Chin Chang

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RF magnetron sputtering is used on the ceramic targets, each of which contains zinc oxide (ZnO), zinc oxide doped with aluminum (AZO) and zinc oxide doped with gallium (GZO). The XRD analysis showed a preferred orientation along the (002) plane for ZnO, AZO, and GZO films. The AZO film had the best electrical properties; it had the lowest resistivity of 6.6 × 10-4 cm, the best sheet resistance of 2.2 × 10-1 Ω/square, and the highest carrier concentration of 4.3 × 1020 cm-3, as compared to the ZnO and GZO films.

Keywords: aging, films, microstructure, photoelectric property

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Authors: Natalia M. Acevedo, Luis M. Jimenez, Erick Lambis

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Imperfections in the capital market are used to argue the relevance of the corporate risk management function. With corporate hedge, the value of the company is increased by reducing the volatility of the expected cash flow and making it possible to face a lower bankruptcy costs and financial difficulties, without sacrificing tax advantages for debt financing. With the propose to avoid exchange rate troubles over cash flows of Colombian exporting firms, this dissertation uses financial options, over exchange rate between Peso and Dollar, for realizing a financial hedge. In this study, a strategy of hedge is designed for an exporting company in Colombia with the objective of preventing fluctuations because, if the exchange rate down, the number of Colombian pesos that obtains the company by exports, is less than agreed. The exchange rate of Colombia is measured by the TRM (Representative Market Rate), representing the number of Colombian pesos for an American dollar. First, the TMR is modelled through the Geometric Brownian Motion, with this, the project price is simulated using Montecarlo simulations and finding the mean of TRM for three, six and twelve months. For financial hedging, currency options were used. The 6-month projection was covered with financial options on European-type currency with a strike price of $ 2,780.47 for each month; this value corresponds to the last value of the historical TRM. In the compensation of the options in each month, the price paid for the premium, calculated with the Black-Scholes method for currency options, was considered. Finally, with the modeling of prices and the Monte Carlo simulation, the effect of the exchange hedging with options on the exporting company was determined, this by means of the unit price estimate to which the dollars in the scenario without coverage were changed and scenario with coverage. After using the scenarios: is determinate that the TRM will have a bull trend and the exporting firm will be affected positively because they will get more pesos for each dollar. The results show that the financial options manage to reduce the exchange risk. The expected value with coverage is approximate to the expected value without coverage, but the 5% percentile with coverage is greater than without coverage. The foregoing indicates that in the worst scenarios the exporting companies will obtain better prices for the sale of the currencies if they cover.

Keywords: currency hedging, futures, geometric Brownian motion, options

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Authors: Rady Farag Aziz Ibrahim

Abstract:

The gap between Islamic terrorism and human rights has become an important issue in the fight against Islamic terrorism worldwide. This situation is repeated because terrorism and human rights are interconnected in such a way that when the former begins, the latter becomes subject to violence. This unknown relationship was recognized in the Vienna Declaration and Program of Action adopted at the International Conference on Human Rights held in Vienna on 25 June 1993, confirming that terrorist acts, in all their forms and manifestations, aim to destroy the rights of individuals. humanity to destroy. Therefore, Islamic terrorism is a violation of basic human rights. For this purpose, the first part of the article will focus on the relationship between terrorism and human rights and the synergy between these two concepts. The second part then explores the emerging concept of cyber threats and how they exist. Additionally, technology analysis will be conducted against threats based on human rights. This will be achieved through analysis of the concept of 'securitization' of human rights and by striking a balance between counter-terrorism measures and the protection of human rights at all costs. This article concludes with recommendations on how to balance terrorism and human rights today.

Keywords: sustainable development, human rights, the right to development, the human rights-based approach to development

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Authors: Tahmidul Islam

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Propensity Score Matching (PSM) technique has been widely used for estimating causal effect of treatment in observational studies. One major step of implementing PSM is estimating the propensity score (PS). Logistic regression model with additive linear terms of covariates is most used technique in many studies. Logistics regression model is also used with cubic splines for retaining flexibility in the model. However, choosing the functional form of the logistic regression model has been a question since the effectiveness of PSM depends on how accurately the PS been estimated. In many situations, the linearity assumption of linear logistic regression may not hold and non-linear relation between the logit and the covariates may be appropriate. One can estimate PS using machine learning techniques such as random forest, neural network etc for more accuracy in non-linear situation. In this study, an attempt has been made to compare the efficacy of Generalized Additive Model (GAM) in various linear and non-linear settings and compare its performance with usual logistic regression. GAM is a non-parametric technique where functional form of the covariates can be unspecified and a flexible regression model can be fitted. In this study various simple and complex models have been considered for treatment under several situations (small/large sample, low/high number of treatment units) and examined which method leads to more covariate balance in the matched dataset. It is found that logistic regression model is impressively robust against inclusion quadratic and interaction terms and reduces mean difference in treatment and control set equally efficiently as GAM does. GAM provided no significantly better covariate balance than logistic regression in both simple and complex models. The analysis also suggests that larger proportion of controls than treatment units leads to better balance for both of the methods.

Keywords: accuracy, covariate balances, generalized additive model, logistic regression, non-linearity, propensity score matching

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Authors: Solange Adechian, Michèle Balage, Didier Remond, Carole Migné, Annie Quignard-Boulangé, Agnès Marset-Baglieri, Sylvie Rousset, Yves Boirie, Claire Gaudichon, Dominique Dardevet, Laurent Mosoni

Abstract:

Studies have shown that timing of protein intake, leucine content, and speed of digestion significantly affect postprandial protein utilization. Our aim was to determine if one can spare lean body mass during energy restriction by varying the quality and the timing of protein intake. Obese volunteers followed a 6-wk restricted energy diet. Four groups were compared: casein pulse, casein spread, milk-soluble protein (MSP, = whey) pulse, and MSP spread (n = 10-11 per group). In casein groups, caseins were the only protein source; it was MSP in MSP groups. Proteins were distributed in four meals per day in the proportion 8:80:4:8% in the pulse groups; it was 25:25:25:25% in the spread groups. We measured weight, body composition, nitrogen balance, 3-methylhistidine excretion, perception of hunger, plasma parameters, adipose tissue metabolism, and whole body protein metabolism. Volunteers lost 7.5 ± 0.4 kg of weight, 5.1 ± 0.2 kg of fat, and 2.2 ± 0.2 kg of lean mass, with no difference between groups. In adipose tissue, cell size and mRNA expression of various genes were reduced with no difference between groups. Hunger perception was also never different between groups. In the last week, due to a higher inhibition of protein degradation and despite a lower stimulation of protein synthesis, postprandial balance between whole body protein synthesis and degradation was better with caseins than with MSP. It seems likely that the positive effect of caseins on protein balance occurred only at the end of the experiment.

Keywords: lean body mass, fat mass, casein, whey, protein metabolism

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Authors: Katherine Denise Queri

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The effects of sick workers have an impact in administration of labor. This study aims to provide knowledge on the disease that is Alzheimer’s while presenting an answer to the research question of when and how is the disease considered as a disaster inside the workplace. The study has the following as its research objectives: 1. Define Alzheimer’s disease, 2. Evaluate the effects and consequences of an employee suffering from Alzheimer’s disease, 3. Determine the concept of organizational effectiveness in the area of Human Resources, and 4. Identify common figures associated with Alzheimer’s disease. The researcher gathered important data from books, video presentations, and interviews of workers suffering from Alzheimer’s disease and from the internet. After using all the relevant data collection instruments mentioned, the following data emerged: 1. Alzheimer’s disease has certain consequences inside the workplace, 2. The occurrence of Alzheimer’s Disease in an employee’s life greatly affects the company where the worker is employed, and 3. The concept of workplace efficiency suggests that an employer must prepare for such disasters that Alzheimer’s disease may bring to the company where one is employed. Alzheimer’s disease can present disaster in any workplace.

Keywords: administration, Alzheimer's disease, conflict, disaster, employment

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Authors: Odile Amoncou, Djedje-Kossu Zahui

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The integration of a Corporate Social Responsibility (CSR) approach within a company appears nowadays as a fundamental system of response to the different problems that threaten our planet. The abusive exploitation of natural resources, social inequalities, discrimination and poverty are some examples. Thus, faced with these different global problems, each company must include in its operating system measures or actions with the aim not only of achieving Sustainable Development Goals (SDGs) but also for the improvement of its performance and its brand internationally. The objective of this article is to assess the implementation of CSR by telecommunication companies. It is our belief that given its high energy consumption and proximity to society, the telecom sector must pay particular attention to environmental and social issues. Our study examines the CSR of three Ivorian telecom operators, namely ORANGE CI, MOOV Africa and MTN, by applying a series of performance indicators related to CSR management. We hope that our study will raise awareness about sustainability issues for all other Ivorian companies but also sub-Sahara African companies in general in order to encourage CEOs to make CSR concept a top priority.

Keywords: CSR, telecom, SDGs, cote d’Ivoire

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Authors: H. A. Mansour

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The objective of this research work is studying the water use prediction, prediction technology for water use by action agencies, and others involved in conservation, planning, and environmental assessment of the Water Erosion Prediction Project (WEPP) simulation model. Models the important physical, processes governing erosion in Egypt (climate, infiltration, runoff, ET, detachment by raindrops, detachment by flowing water, deposition, etc.). Simulation of the non-uniform slope, soils, cropping/management., and Egyptian databases for climate, soils, and crops. The study included important parameters in Egyptian conditions as follows: Water Balance & Percolation, Soil Component (Tillage impacts), Plant Growth & Residue Decomposition, Overland Flow Hydraulics. It could be concluded that we can adapt the WEPP simulation model to determining the previous important parameters under Egyptian conditions.

Keywords: WEPP, adaptation, soil properties, tillage impacts, water balance, soil percolation

Procedia PDF Downloads 293