Search results for: market mechanism

Authors: Lipeng Zhang, Limei Li, Yanming Pearl Zhang

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This paper takes a philosophical view as axiom, and reveals the relationship between information theory and Natural Intelligence and Artificial Intelligence under real world conditions. This paper also derives the relationship between natural intelligence and nature. According to communication principle of information theory, Natural Intelligence can be divided into real part and virtual part. Based on information theory principle that Information does not increase, the restriction mechanism of Natural Intelligence creativity is conducted. The restriction mechanism of creativity reveals the limit of natural intelligence and artificial intelligence. The paper provides a new angle to observe natural intelligence and artificial intelligence.

Keywords: natural intelligence, artificial intelligence, creativity, information theory, restriction of creativity

Procedia PDF Downloads 390

Authors: Meysam Naeimi, Zili Li, Roumen Petrov, Rolf Dollevoet, Jilt Sietsma, Jun Wu

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The substantial similarity of fatigue mechanism in a new test rig for rolling contact fatigue (RCF) has been investigated. A new reduced-scale test rig is designed to perform controlled RCF tests in wheel-rail materials. The fatigue mechanism of the rig is evaluated in this study using a combined finite element-fatigue prediction approach. The influences of loading conditions on fatigue crack initiation have been studied. Furthermore, the effects of some artificial defects (squat-shape) on fatigue lives are examined. To simulate the vehicle-track interaction by means of the test rig, a three-dimensional finite element (FE) model is built up. The nonlinear material behaviour of the rail steel is modelled in the contact interface. The results of FE simulations are combined with the critical plane concept to determine the material points with the greatest possibility of fatigue failure. Based on the stress-strain responses, by employing of previously postulated criteria for fatigue crack initiation (plastic shakedown and ratchetting), fatigue life analysis is carried out. The results are reported for various loading conditions and different defect sizes. Afterward, the cyclic mechanism of the test rig is evaluated from the operational viewpoint. The results of fatigue life predictions are compared with the expected number of cycles of the test rig by its cyclic nature. Finally, the estimative duration of the experiments until fatigue crack initiation is roughly determined.

Keywords: fatigue, test rig, crack initiation, life, rail, squats

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Authors: Ayyoub Jamali, Jennie Edlund, Alena Kozlová

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This paper evaluates the monitoring, prevention, and enforcing mechanisms of the core values of international organisations (IOs) in a comparative human rights perspective. The IOs in focus are the European Union, the Council of Europe, the African Union, and the Organization of American States. The paper will take the founding treaties of these IOs and their relevant protocols as a starting point to identify the values and the mechanisms used for their implementation. It will explore the scope of violations, the procedures in place and evaluate what type of response to those breaches seems to work best in terms of achieving its declared objectives. The study will identify and compare the weaknesses and strengths of each mechanism used by the IOs and recognize common challenges and means, thereby drawing inter-organizational comparisons. Consequently, the findings of this paper can be used among the IOs to improve their system and thus enhance their effectiveness.

Keywords: international organizations, core values, human rights, enforcement mechanism, compliance

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Authors: Z. S. Yip, T. K. Tan, C. C. Geh, T. T. Ting

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The mobile phone is an indispensable device in today’s daily living. The arising new brands in the market with different specification are targeting at the different population. The most promising market would be the younger generation who are IT savvy. Therefore, it is beneficial to find out their factors of consideration in purchasing a mobile phone. A survey is carried out in Malaysia to discover the current youngster’s mobile phone buying behavior. This study has found that the most influencing factor of consideration is Price, followed by Feature, and Battery Lifespan. Gender and Income have no relationship with certain factors of consideration. It is important to discover the factors of consideration in order to provide industry insight into the current trend of smartphone in Malaysia.

Keywords: buying behavior, smart phone, mobile brand, mobile operating system, specification, battery lifespan

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Authors: Rik van Leeuwen, Ger Koole

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Within hospitality, marketing departments use segmentation to create tailored strategies to ensure personalized marketing. This study provides a data-driven approach by segmenting guest profiles via hierarchical clustering based on an extensive set of features. The industry requires understandable outcomes that contribute to adaptability for marketing departments to make data-driven decisions and ultimately driving profit. A marketing department specified a business question that guides the unsupervised machine learning algorithm. Features of guests change over time; therefore, there is a probability that guests transition from one segment to another. The purpose of the study is to provide steps in the process from raw data to actionable insights, which serve as a guideline for how hospitality companies can adopt an algorithmic approach.

Keywords: hierarchical cluster analysis, hospitality, market segmentation

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Authors: Mekdes Getu Chekol, Biniam Tedros Kahsay, Rahwa Berihu Haile

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The main objective of this study is to investigate the marketing strategy practice in the Case of St. George Brewery Factory in Addis Ababa. One of the core activities in a Business Company to stay in business is having a well-developed marketing strategy. It assessed how the marketing strategies were practiced in the company to achieve its goals aligned with segmentation, target market, positioning, and the marketing mix elements to satisfy customer requirements. Using primary and secondary data, the study is conducted by using both qualitative and quantitative approaches. The primary data was collected through open and closed-ended questionnaires. Considering the size of the population is small, the selection of the respondents was carried out by using a census. The finding shows that the company used all the 4 Ps of the marketing mix elements in its marketing strategies and provided quality products at affordable prices by promoting its products by using high and effective advertising mechanisms. The product availability and accessibility are admirable with the practices of both direct and indirect distribution channels. On the other hand, the company has identified its target customers, and the company’s market segmentation practice is geographical location. Communication effectiveness between the marketing department and other departments is very good. The adjusted R2 model explains 61.6% of the marketing strategy practice variance by product, price, promotion, and place. The remaining 38.4% of variation in the dependent variable was explained by other factors not included in this study. The result reveals that all four independent variables, product, price, promotion, and place, have a positive beta sign, proving that predictor variables have a positive effect on that of the predicting dependent variable marketing strategy practice. Even though the marketing strategies of the company are effectively practiced, there are some problems that the company faces while implementing them. These are infrastructure problems, economic problems, intensive competition in the market, shortage of raw materials, seasonality of consumption, socio-cultural problems, and the time and cost of awareness creation for the customers. Finally, the authors suggest that the company better develop a long-range view and try to implement a more structured approach to attain information about potential customers, competitor’s actions, and market intelligence within the industry. In addition, we recommend conducting the study by increasing the sample size and including different marketing factors.

Keywords: marketing strategy, market segmentation, target marketing, market positioning, marketing mix

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Authors: Vish Putcha, Chandrasekhar Putcha, Siva Hari

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In the current digital era of free trading and pandemic-driven remote work culture, markets worldwide gained momentum for retail investors to trade from anywhere easily. The number of retail traders rose to 24% of the market from 15% at the pre-pandemic level. Most of them are young retail traders with high-risk tolerance compared to the previous generation of retail traders. This trend boosted the growth of subscription-based market predictors and market data vendors. Young traders are betting on these predictors, assuming one of them is correct. However, 90% of retail traders are on the losing end. This paper presents multiple indicators and attempts to derive behavioral patterns from the underlying stocks. The two major indicators that traders and investors follow are technical and fundamental. The famous investor, Warren Buffett, adheres to the “Value Investing” method that is based on a stock’s fundamental Analysis. In this paper, we present multiple indicators from various methods to understand the behavior patterns of stocks. For this research, we picked five stocks with a market capitalization of more than $200M, listed on the exchange for more than 20 years, and from different industry sectors. To study the behavioral pattern over time for these five stocks, a total of 8 indicators are chosen from fundamental, technical, and financial indicators, such as Price to Earning (P/E), Price to Book Value (P/B), Debt to Equity (D/E), Beta, Volatility, Relative Strength Index (RSI), Moving Averages and Dividend yields, followed by detailed mathematical Analysis. This is an interdisciplinary paper between various disciplines of Engineering, Accounting, and Finance. The research takes a new approach to identify clear indicators affecting stocks. Statistical Analysis of the data will be performed in terms of the probabilistic distribution, then follow and then determine the probability of the stock price going over a specific target value. The Chi-square test will be used to determine the validity of the assumed distribution. Preliminary results indicate that this approach is working well. When the complete results are presented in the final paper, they will be beneficial to the community.

Keywords: stock pattern, stock market analysis, stock predictions, trading, investing, fundamental analysis, technical analysis, quantitative trading, financial analysis, behavioral analysis

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Authors: Rui Liu, Klaus Greve

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The navigation information is a kind of dynamic geographic information, and the navigation information system is a kind of special geographic information system. At present, there are many researches on the application of centralized management and cross-integration application of basic geographic information. However, the idea of information integration and sharing is not deeply applied into the research of navigation information service. And the imperfection of navigation target coordination and navigation information sharing mechanism under certain navigation tasks has greatly affected the reliability and scientificity of navigation service such as path planning. Considering this, the project intends to study the multi-source information fusion and multi-objective united navigation information interaction mechanism: first of all, investigate the actual needs of navigation users in different areas, and establish the preliminary navigation information classification and importance level model; and then analyze the characteristics of the remote sensing and GIS vector data, and design the fusion algorithm from the aspect of improving the positioning accuracy and extracting the navigation environment data. At last, the project intends to analyze the feature of navigation information of the land, sea and air navigation targets, and design the united navigation data standard and navigation information sharing model under certain navigation tasks, and establish a test navigation system for united navigation simulation experiment. The aim of this study is to explore the theory of united navigation service and optimize the navigation information service model, which will lay the theory and technology foundation for the united navigation of land, sea and air targets.

Keywords: information fusion, united navigation, dynamic path planning, navigation information visualization

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Authors: Meysam Saidi

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While the specific externalities and required regulatory measures in relation to Islamic banking are fairly uncertain, the business is growing across the world. Unofficial data indicate that the Islamic Finance market is growing with annual rate of 15% and it has reached 1.3 $ trillion size. This trend is associated with inherent systematic connection of Islamic financial institutions to other entities and different sectors of economies. Islamic banking has been subject of market development policies in major economies, most notably the UK. This trend highlights the need for identification of distinct risk features of Islamic banking and crafting customized regulatory measures. So far there has not been a significant systemic crisis in this market which can be attributed to its distinct nature. However, the significant growth and spread of its products worldwide necessitate an in depth study of its nature for customized congruent regulatory measures. In the post financial crisis era some market analysis and reports suggested that the Islamic banks fairly weathered the crisis. As far as heavily blamed conventional financial products such as subprime mortgage backed securities and speculative credit default swaps were concerned the immunity claim can be considered true, as Islamic financial institutions were not directly exposed to such products. Nevertheless, similar to the experience of the conventional banking industry, it can be only a matter of time for Islamic banks to face failures that can be specific to the nature of their business. Using the experience of conventional banking regulations and identifying those peculiarities of Islamic banking that need customized regulatory approach can aid to prevent major failures. Frank Knight has stated that “We perceive the world before we react to it, and we react not to what we perceive, but always to what we infer”. The debate over congruent Islamic banking regulations might not be an exception to Frank Knight’s statement but I will try to base my discussion on concrete evidences. This paper first analyzes both theoretical and actual features of Islamic banking in order to ascertain to its peculiarities in terms of market stability and other externalities. Next, the paper discusses distinct features of Islamic financial transactions and banking which might require customized regulatory measures. Finally, the paper explores how a more transparent path for the Islamic banking regulations can be drawn.

Keywords: Islamic banking, regulation, risks, capital requirements, customer protection, financial stability

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Authors: Mateusz Rak

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Objective: The paper aims to present various sources of competitive advantage which may occur when an enterprise strategically applies its concept of corporate philanthropy. Methodology: The review of the literature and available reports on the research regarding corporate philanthropy. Results: Strategic philanthropy is a positive phenomenon. Unfortunately, enterprises in Poland do not see all positive sides of such activities yet. Three kinds of corporate philanthropy may be described. They are to fulfil a social duty, improve the company reputation and gain a competitive edge. Practical implications: Showing enterprises the advantages of taking philanthropic actions, in particular, a large role of strategic philanthropy in gaining a competitive edge in the market as well as how to avoid negative consequences of corporate philanthropy. The paper presents corporate philanthropy on a few layers: as a CSR element, actions generating values in products, actions improving a corporate image in the market, altruist actions of employees.

Keywords: corporate philanthropy, corporate social responsibility, corporate foundations, CSR

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Authors: Shada Bennbaia, Elsadig Mahdi

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In this paper, the effect of changing the interior angle of a hexagonal passive energy absorber is investigated. Aluminum hexagonal structures have been tested under in-plane quasi-static compression tests. These hexagonal structures are designed to have varying interior angle values to study their crushing behavior and the relationship between the angle and the energy absorption capability. It was found that the structures with angles 40° and 45° showed an almost perfectly stable crushing mechanism with low initial peak force. Thus, hexagonal structures with these angels can be used in the vehicle's crumple zones to absorb energy during collisions. The larger angles required high initial peak force to start crushing, which indicates that these structures are best suited in applications where high load carrying capacity is needed.

Keywords: energy absorption, crushing force efficiency, crushing mechanism, hexagonal angle, peak force

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Authors: Jedli Hedi, Hedfi Hachem, Abdessalem Jbara, Slimi Khalifa

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Natural and modified clay were used as an adsorbent for CO2 capture. Sample of clay was subjected to acid treatments to improve their textural properties, namely, its surface area and pore volume. The modifications were carried out by heating the clays at 120 °C and then by acid treatment with 3M sulphuric acid solution at boiling temperature for 10 h. The CO2 adsorption capacities of the acid-treated clay were performed out in a batch reactor. It was found that the clay sample treated with 3M H2SO4 exhibited the highest Brunauer–Emmett–Teller (BET) surface area (16.29–24.68 m2/g) and pore volume (0.056–0.064 cm3/g). After the acid treatment, the CO2 adsorption capacity of clay increased. The CO2 adsorption capacity of clay increased after the acid treatment. The CO2 adsorption by clay, were characterized by SEM, FTIR, ATD-ATG and BET method. For describing the phenomenon of CO2 adsorption for these materials, the adsorption isotherms were modeled using the Freundlich and Langmuir models. CO2 adsorption isotherm was found attributable to physical adsorption.

Keywords: clay, acid treatment, CO2 capture, adsorption mechanism

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Authors: Jitendra Aswani

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In the first section of this study, impact of Global Financial Crisis (GFC) on the synchronization of fourteen Asian Stock Markets (ASM’s) of countries like Hong Kong, India, Thailand, Singapore, Taiwan, Pakistan, Bangladesh, South Korea, Malaysia, Indonesia, Japan, China, Philippines and Sri Lanka, has been analysed using the network science and its metrics like degree of node, clustering coefficient and network density. Then in the second section of this study by introducing the US stock market in existing network and developing a Minimum Spanning Tree (MST) spread of crisis from the US stock market to Asian Stock Markets (ASM) has been explained. Data used for this study is adjusted the closing price of these indices from 6th January, 2000 to 15th September, 2013 which further divided into three sub-periods: Pre, during and post-crisis. Using network analysis, it is found that Asian stock markets become more interdependent during the crisis than pre and post crisis, and also Hong Kong, India, South Korea and Japan are systemic important stock markets in the Asian region. Therefore, failure or shock to any of these systemic important stock markets can cause contagion to another stock market of this region. This study is useful for global investors’ in portfolio management especially during the crisis period and also for policy makers in formulating the financial regulation norms by knowing the connections between the stock markets and how the system of these stock markets changes in crisis period and after that.

Keywords: global financial crisis, Asian stock markets, network science, Kruskal algorithm

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Authors: Mingmei Zhang, Xinyong Li

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Novel AgInS2/SnS2/RGO (AISR) heterojunctions photocatalysts were synthesized by simple hydrothermal method. The morphology and composition of the fabricated AISR nanocomposites were investigated by field-emission scanning electron microscopy (SEM), X-ray diffraction (XRD), high resolution transmission electron microscopy (HRTEM) and X-ray photoelectron spectroscopy (XPS). Moreover, the as-prepared AISR photocatalysts exhibited excellent photocatalytic activities for the degradation of Norfloxacin (NOR), mainly due to its high optical absorption and separation efficiency of photogenerated electron-hole pairs, as evidenced by UV–vis diffusion reflection spectra (DRS) and Surface photovoltage (SPV) spectra. Furthermore, laser flash photolysis technique was conducted to test the lifetime of charge carriers of the fabricated nanocomposites. The interfacial charges transfer mechanism was also discussed.

Keywords: AISR heterojunctions, electron-hole pairs, SPV spectra, charges transfer mechanism

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Authors: Hyun Chul Koag, Hyun-Sik Ahn

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In this paper, we propose a design approach for the safety mechanism of an actuator used in a commercial vehicle’s EPS system. As the number of electric/electronic system in a vehicle increases, the importance of the functional safety has been receiving much attention. EPS(Electric Power Steering) systems for commercial vehicles require large power than passenger vehicles, and hence, dual motor can be applied to get more torque. We show how to formulate the development process for the design of hardware and software of an EPS system using dual motors. A lot of safety mechanisms for the processor, sensors, and memory have been suggested, however, those for actuators have not been fully researched. It is shown by metric analyses that the target ASIL(Automotive Safety Integrated Level) is satisfied in the point of view of hardware of EPS controller.

Keywords: safety mechanism, functional safety, commercial vehicles, electric power steering

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Authors: Zhifei Hu, Feng Xia

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In recent years, Graph neural network has been widely used in knowledge graph recommendation. The existing recommendation methods based on graph neural network extract information from knowledge graph through entity and relation, which may not be efficient in the way of information extraction. In order to better propose useful entity information for the current recommendation task in the knowledge graph, we propose an end-to-end Neural network Model based on multi-stream graph attentional Mechanism (MSGAT), which can effectively integrate the knowledge graph into the recommendation system by evaluating the importance of entities from both users and items. Specifically, we use the attention mechanism from the user's perspective to distil the domain nodes information of the predicted item in the knowledge graph, to enhance the user's information on items, and generate the feature representation of the predicted item. Due to user history, click items can reflect the user's interest distribution, we propose a multi-stream attention mechanism, based on the user's preference for entities and relationships, and the similarity between items to be predicted and entities, aggregate user history click item's neighborhood entity information in the knowledge graph and generate the user's feature representation. We evaluate our model on three real recommendation datasets: Movielens-1M (ML-1M), LFM-1B 2015 (LFM-1B), and Amazon-Book (AZ-book). Experimental results show that compared with the most advanced models, our proposed model can better capture the entity information in the knowledge graph, which proves the validity and accuracy of the model.

Keywords: graph attention network, knowledge graph, recommendation, information propagation

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Authors: Mona Almansoori, Ahmed Mustafa, Ahmad Elshamy

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Wireless sensor network was formed by a combination of nodes, systematically it transmitting the data to their base stations, this transmission data can be easily compromised if the limited processing power and the data consistency from these nodes are kept in mind; there is always a discussion to address the secure data transfer or transmission in actual time. This will present a mechanism to securely transmit the data over a chain of sensor nodes without compromising the throughput of the network by utilizing available battery resources available in the sensor node. Our methodology takes many different advantages of Z-MAC protocol for its efficiency, and it provides a unique key by sharing the mechanism using neighbor node MAC address. We present a light weighted data integrity layer which is embedded in the Z-MAC protocol to prove that our protocol performs well than Z-MAC when we introduce the different attack scenarios.

Keywords: hybrid MAC protocol, data integrity, lightweight encryption, neighbor based key sharing, sensor node dataprocessing, Z-MAC

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Authors: Kuo-Cheng Liu

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In the perceptual image coding, the objective is to shape the coding distortion such that the amplitude of distortion does not exceed the error visibility threshold, or to remove perceptually redundant signals from the image. While most researches focus on color image coding, the perceptual-based quantizer developed for luminance signals are always directly applied to chrominance signals such that the color image compression methods are inefficient. In this paper, the internal generative mechanism is integrated into the design of a color image compression method. The internal generative mechanism working model based on the structure-based spatial masking is used to assess the subjective distortion visibility thresholds that are visually consistent to human eyes better. The estimation method of structure-based distortion visibility thresholds for color components is further presented in a locally adaptive way to design quantization process in the wavelet color image compression scheme. Since the lowest subband coefficient matrix of images in the wavelet domain preserves the local property of images in the spatial domain, the error visibility threshold inherent in each coefficient of the lowest subband for each color component is estimated by using the proposed spatial error visibility threshold assessment. The threshold inherent in each coefficient of other subbands for each color component is then estimated in a local adaptive fashion based on the distortion energy allocation. By considering that the error visibility thresholds are estimated using predicting and reconstructed signals of the color image, the coding scheme incorporated with locally adaptive perceptual color quantizer does not require side information. Experimental results show that the entropies of three color components obtained by using proposed IGM-based color image compression scheme are lower than that obtained by using the existing color image compression method at perceptually lossless visual quality.

Keywords: internal generative mechanism, structure-based spatial masking, visibility threshold, wavelet domain

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Authors: Yang Wanhuan, Zou Jichun, LI Shen, Zhong Weihua, Yang Wen

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High entropy alloys (HEAs) have aroused significant concern in high-temperature supercritical carbon dioxide (S-CO2) environments due to their unique microstructures and outstanding properties. However, the anti-corrosion ability and mechanism of these HEAs in the S-CO₂ remain unclear. Herein, we developed a new AlCrFeNiMn (AM)-HEA with double phases by vacuum arc melting furnace. The corrosion behavior of AM-HEA in the S-CO₂ at 500 ℃ under 25 MPa for 400 hours was deciphered by multiple characterization techniques. The results show that the discrepancy of corrosion between the matrix and boundary was accounted for by their microstructure and components. The role and mechanism of Mn contents for their oxide scales in boundary zones were emphasized. More importantly, the nano-precipitated second phase and numerous boundaries for the outstanding anti-corrosion ability of the matrix were proposed.

Keywords: high entropy alloy, microstructure, corrosion, supercritical carbon oxide, AlCrFeNiMn

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Authors: Savaş Durduran, Ceren Yağci

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The nature of the events going on in the world, when people’s lives are considered significantly affects natural disasters. Considering thousands of years of earth history, it is seen that many natural disasters, particularly earthquakes located in our country. Behaving cautious, without occurring hazards, after being disaster is much easier and cost effective than returning to the normal life. The four phases of disaster management in the whole world has been described as; pre-disaster preparedness and mitigation, post-disaster response and rehabilitation studies. Pre-disaster and post-disaster phases has half the weight of disaster management. How much would be prepared for disaster, no matter how disaster damage reducing work gives important, we will be less harm from material and spiritual sense. To do this in a systematic way we use the Geographic Information Systems (GIS). The execution of the emergency services to be on time and emergency control mechanism against the development the most appropriate decision Geographic Information System GIS) can be useful. The execution of the emergency services to be on time and emergency control mechanism towards for developing to be the most appropriate decision Geographic Information System (GIS) can be useful. The results obtained by using products with GIS analysis of seismic data to the city, manager of the city required information and data that can be more healthy and satisfies the appropriate policy decisions can be produced. In this study, using ArcGIS software and benefiting reports of the earthquake that occurred in the Konya city, spatial and non-spatial data consisting databases created, by the help of this database a potential disaster management aimed in the city of Konya regard to urban earthquake, GIS-aided analyzes were performed.

Keywords: geographic information systems (GIS), disaster management, emergency control mechanism, Konya

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Authors: Katarina Živković, Ivana Joksimović

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Many different chemicals may occur in drinking water and cause significant human health risks after prolonged periods of exposure. In particular concern are contaminants that have cumulative toxic properties, such as heavy metals. This investigation was done to clarify concerns about chemical quality and safety of drinking tap water in Podgorica. For comparison, all available natural bottled water on Montenegrin market were bought. All samples (bottled water and tap water from Podgorica) were analyzed using ICP –OES on contents of Al, Cd, Pb, Cu, Zn,Cr, Fe, As and Mn. All results compared with the maximum concentration levels allowed by international standards and World Health Organization (WHO) guidelines. The results of analysis showed that all trace of heavy metals were very low and in same time below MCL according to WHO and International standard.

Keywords: inductively coupled plasma - optical emission spectrometry (ICP-OES), Montenegro (Podgorica), natural bottled water, tap water , trace of heavy metal

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Authors: Shobhit Mittal

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Headcount budgeting stands as a pivotal element in organizational financial management, extending beyond traditional budgeting to encompass strategic resource allocation for workforce-related expenses. This process is integral to maintaining financial stability and fostering a productive workforce, requiring a comprehensive analysis of factors such as market trends, business growth projections, and evolving workforce skill requirements. It demands a collaborative approach, primarily involving Human Resources (HR) and finance departments, to align workforce planning with an organization's financial capabilities and strategic objectives. The dynamic nature of headcount budgeting necessitates continuous monitoring and adjustment in response to economic fluctuations, business strategy shifts, technological advancements, and market dynamics. Its significance in talent management is also highlighted, aligning financial planning with talent acquisition and retention strategies to ensure a competitive edge in the market. The consequences of incorrect headcount budgeting are explored, showing how it can lead to financial strain, operational inefficiencies, and hindered strategic objectives. Examining case studies like IBM's strategic workforce rebalancing and Microsoft's shift for long-term success, the importance of aligning headcount budgeting with organizational goals is underscored. These examples illustrate that effective headcount budgeting transcends its role as a financial tool, emerging as a strategic element crucial for an organization's success. This necessitates continuous refinement and adaptation to align with evolving business goals and market conditions, highlighting its role as a key driver in organizational success and sustainability.

Keywords: strategic planning, fiscal budget, headcount planning, resource allocation, financial management, decision-making, operational efficiency, risk management, headcount budget

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Authors: I. Rodionov, A. Semenov, E. Gosteva, O. Sokolova

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Currently, the venture capital becomes more and more advanced and effective source of the innovation project financing, connected with a high-risk level. In the developed countries, it plays a key role in transforming innovation projects into successful businesses and creating prosperity of the modern economy. Actually, in Russia there are many necessary preconditions for creation of the effective venture investment system: the network of the public institutes for innovation financing operates; there is a significant number of the small and medium-sized enterprises, capable to sell production with good market potential. However, the current system does not confirm the necessary level of efficiency in practice that can be substantially explained by the absence of the accurate plan of action to form the national venture model and by the lack of experience of successful venture deals with profitable exits in Russian economy. This paper studies the influence of various factors on the venture industry development by the example of the IT-sector in Russia. The choice of the sector is based on the fact, that this segment is the main driver of the venture capital market growth in Russia, and the necessary set of data exists. The size of investment of the second round is used as the dependent variable. To analyse the influence of the previous round such determinant as the volume of the previous (first) round investments is used. There is also used a dummy variable in regression to examine that the participation of an investor with high reputation and experience in the previous round can influence the size of the next investment round. The regression analysis of short-term interrelations between studied variables reveals prevailing influence of the volume of the first round investments on the venture investments volume of the second round. Because of the research, the participation of investors with first-class reputation has a small impact on an indicator of the value of investment of the second round. The expected positive dependence of the second round investments on the forecasted market growth rate now of the deal is also rejected. So, the most important determinant of the value of the second-round investment is the value of first–round investment, so it means that the most competitive on the Russian market are the start-up teams which can attract more money on the start, and the target market growth is not the factor of crucial importance.

Keywords: venture industry, venture investment, determinants of the venture sector development, IT-sector

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Authors: M. F. Wu, F. T. Cheng, C. S. Wu, M. C. Tan

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It is a critical time to upgrade technology and increase value added with manufacturing skills developing and management strategies that will highly satisfy the customers need in the precision machinery global market. In recent years, the supply side, each precision machinery manufacturers in each country are facing the pressures of price reducing from the demand side voices that pushes the high-end precision machinery manufacturers adopts low-cost and high-quality strategy to retrieve the market. Because of the trend of the global market, the manufacturers must take price reducing strategies and upgrade technology of low-end machinery for differentiations to consolidate the market. By using six key success factors (KSFs), customer perceived value, customer satisfaction, customer service, product design, product effectiveness and machine structure quality are causal conditions to explore the impact of competitive advantage of the enterprise, such as overall profitability and product pricing power. This research uses key success paths (KSPs) approach and f/s QCA software to explore various combinations of causal relationships, so as to fully understand the performance level of KSFs and business objectives in order to achieve competitive advantage. In this study, the combination of a causal relationships, are called Key Success Paths (KSPs). The key success paths guide the enterprise to achieve the specific outcomes of business. The findings of this study indicate that there are thirteen KSPs to achieve the overall profitability, sixteen KSPs to achieve the product pricing power and seventeen KSPs to achieve both overall profitability and pricing power of the enterprise. The KSPs provide the directions of resources integration and allocation, improve utilization efficiency of limited resources to realize the continuous vision of the enterprise.

Keywords: precision machinery industry, key success factors (KSFs), key success paths (KSPs), overall profitability, product pricing power, competitive advantages

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Authors: Juan Manuel Sanchez-Cartas, Gonzalo Leon

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A price competition algorithm for ABMs based on game theory principles is proposed to deal with the simulation of theoretical market models. The algorithm is applied to the classical Hotelling’s model and to a two-sided market model to show it leads to the optimal behavior predicted by theoretical models. However, when theoretical models fail to predict the equilibrium, the algorithm is capable of reaching a feasible outcome. Results highlight that the algorithm can be implemented in other simulation models to guarantee rational users and endogenous optimal behaviors. Also, it can be applied as a tool of verification given that is theoretically based.

Keywords: agent-based models, algorithmic game theory, multi-sided markets, price optimization

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Authors: Mir Jalil Razavi, Tianming Liu, Xianqiao Wang

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Cortical folding, characterized by convex gyri and concave sulci, has an intrinsic relationship to the brain’s functional organization. Understanding the mechanism of the brain’s convoluted patterns can provide useful clues into normal and pathological brain function. During the development, the cerebral cortex experiences a noticeable expansion in volume and surface area accompanied by tremendous tissue folding which may be attributed to many possible factors. Despite decades of endeavors, the fundamental mechanism and key regulators of this crucial process remain incompletely understood. Therefore, to taking even a small role in unraveling of brain folding mystery, we present a mechanical model to find mechanism of 3-hinges formation in a growing brain that it has not been addressed before. A 3-hinge is defined as a gyral region where three gyral crests (hinge-lines) join. The reasons that how and why brain prefers to develop 3-hinges have not been answered very well. Therefore, we offer a theoretical and computational explanation to mechanism of 3-hinges formation in a growing brain and validate it by experimental observations. In theoretical approach, the dynamic behavior of brain tissue is examined and described with the aid of a large strain and nonlinear constitutive model. Derived constitute model is used in the computational model to define material behavior. Since the theoretical approach cannot predict the evolution of cortical complex convolution after instability, non-linear finite element models are employed to study the 3-hinges formation and secondary morphological folds of the developing brain. Three-dimensional (3D) finite element analyses on a multi-layer soft tissue model which mimics a small piece of the brain are performed to investigate the fundamental mechanism of consistent hinge formation in the cortical folding. Results show that after certain amount growth of cortex, mechanical model starts to be unstable and then by formation of creases enters to a new configuration with lower strain energy. By further growth of the model, formed shallow creases start to form convoluted patterns and then develop 3-hinge patterns. Simulation results related to 3-hinges in models show good agreement with experimental observations from macaque, chimpanzee and human brain images. These results have great potential to reveal fundamental principles of brain architecture and to produce a unified theoretical framework that convincingly explains the intrinsic relationship between cortical folding and 3-hinges formation. This achieved fundamental understanding of the intrinsic relationship between cortical folding and 3-hinges formation would potentially shed new insights into the diagnosis of many brain disorders such as schizophrenia, autism, lissencephaly and polymicrogyria.

Keywords: brain, cortical folding, finite element, three hinge

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Authors: Jiandong Ren, Lijun Zhao, Peng Chen

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Nafamostat (NA), a synthetic broad-spectrum serine protease inhibitor, has been routinely employed for the treatment of acute pancreatitis (AP) and other inflammatory-associated diseases in some East Asia countries. Although the potent inhibitory activity against inflammation-related proteases such as thrombin, trypsin, kallikrein, plasmin, coagulation factors and complement factors is generally considered to be responsible for the anti-inflammatory effects of NA, precise target and molecular mechanism underlying the anti-inflammatory activity in the treatment of AP remain largely unknown yet. As an intracellular inflammatory signaling platform, the NOD-like receptor protein 3 (NLRP3) inflammasome is recently identified to be involved in the development of AP. In present study, we have revealed that NA alleviated pancreatic injury in a caerulein-induced AP model by inhibiting the NLRP3 inflammasome activation in pancreas. Mechanistically, NA interacted with HDAC6, a cytoplasmic deacetylase implicated in the NLRP3 inflammasome pathway, and efficiently abrogated the function of HDAC6. This property enabled NA to influence HDAC6 dependent NF-κB transcriptional activity and thus block NF-κB-driven transcriptional priming of NLRP3 inflammasome. Moreover, NA exerted the potential to interfere HDAC6-mediated intracellular transport of NLRP3, thereby leading to the failure of NLRP3 inflammasome activation. Our current work has provided valuable insight into the molecular mechanism underlying the immunomodulatory effect of NA in treatment of AP, highlighting its promising application in prevention of NLRP3 inflammasome-associated inflammatory pathological damage.

Keywords: acute pancreatitis, HDAC6, nafamostat, NLRP3 inflammasome

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Authors: Changfeng Fu

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Sustainable urban development has been widely accepted a common sense in the modern urban planning and design. However, the measurement and assessment of urban sustainability, especially the quantitative assessment have been always an issue obsessing planning and design professionals. This paper will present an on-going research on the principles and technologies to develop a quantitative urban sustainability assessment principles and techniques which aim to integrate indicators, geospatial and geo-reference data, and assessment techniques together into a mechanism. It is based on the principles and techniques of geospatial analysis with GIS and statistical analysis methods. The decision-making technologies and methods such as AHP and SMART are also adopted to address overall assessment conclusions. The possible interfaces and presentation of data and quantitative assessment results are also described. This research is based on the knowledge, situations and data sources of UK, but it is potentially adaptable to other countries or regions. The implementation potentials of the mechanism are also discussed.

Keywords: urban sustainability assessment, quantitative analysis, sustainability indicator, geospatial data, big data

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Authors: K. Iskandar, N. H. Radzi, R. Aziz, M. S. Kamaruddin, M. N. Abdullah, S. A. Jumaat

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Nowadays many developing countries have been undergoing a restructuring process in the power electricity industry. This process has involved disaggregating former state-owned monopoly utilities both vertically and horizontally and introduced competition. The restructuring process has been implemented by the Australian National Electricity Market (NEM) started from 13 December 1998, began operating as a wholesale market for supply of electricity to retailers and end-users in Queensland, New South Wales, the Australian Capital Territory, Victoria and South Australia. In this deregulated market, one of the important issues is the transmission pricing. Transmission pricing is a service that recovers existing and new cost of the transmission system. The regulation of the transmission pricing is important in determining whether the transmission service system is economically beneficial to both side of the users and utilities. Therefore, an efficient transmission pricing methodology plays an important role in the Australian NEM. In this paper, the transmission pricing methodologies that have been implemented by the Australian NEM which are the Cost Reflective Network Pricing (CRNP) and Modified Cost Reflective Network Pricing (MCRNP) methods are investigated for allocating the transmission service charges to the transmission users. A case study using 6-bus system is used in order to identify the best method that reflects a fair and equitable transmission service charge.

Keywords: cost-reflective network pricing method, modified cost-reflective network pricing method, restructuring process, transmission pricing

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Authors: Henry Ataburo, Dominic Essuman, Emmanuel Kwabena Anin

Abstract:

Recent trends of catastrophic events, such as the Covid-19 pandemic, the Suez Canal blockage, the Russia-Ukraine conflict, the Israel-Hamas conflict, and the climate change crisis, continue to devastate supply chains and the broader society. Prior authors have advocated for a simultaneous pursuit of resilience and sustainability as crucial for navigating these challenges. Nevertheless, the relationship between resilience and sustainability is a rather complex one: resilience and sustainability are considered unrelated, substitutes, or complements. Scholars also suggest that different firms prioritize resilience and sustainability differently for varied strategic reasons. However, we know little about whether, how, and when these choices produce different typologies of firms to explain differences in financial and market performance outcomes. This research draws inferences from the systems configuration approach to organizational fit to contend that a taxonomy of firms may emerge based on how firms configure resilience and environmental sustainability. The study further examines the effects of these taxonomies on financial and market performance in differing transportation disruption conditions. Resilience is operationalized as a firm’s ability to adjust current operations, structure, knowledge, and resources in response to disruptions, whereas environmental sustainability is operationalized as the extent to which a firm deploys resources judiciously and keeps the ecological impact of its operations to the barest minimum. Using primary data from 199 firms in Ghana and cluster analysis as an analytical tool, the study identifies four clusters of firms based on how they prioritize resilience and sustainability: Cluster 1 - "strong, moderate resilience, high sustainability firms," Cluster 2 - "sigh resilience, high sustainability firms," Cluster 3 - "high resilience, strong, moderate sustainability firms," and Cluster 4 - "weak, moderate resilience, strong, moderate sustainability firms". In addition, ANOVA and regression analysis revealed the following findings: Only clusters 1 and 2 were significantly associated with both market and financial performance. Under high transportation disruption conditions, cluster 1 firms excel better in market performance, whereas cluster 2 firms excel better in financial performance. Conversely, under low transportation disruption conditions, cluster 1 firms excel better in financial performance, whereas cluster 2 firms excel better in market performance. The study provides theoretical and empirical evidence of how resilience and environmental sustainability can be configured to achieve specific performance objectives under different disruption conditions.

Keywords: resilience, environmental sustainability, developing economy, transportation disruption

Procedia PDF Downloads 70