Search results for: oil market trends

Authors: Renáta Nagy, Alexandra Csongor, Vilmos Warta

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The presentation aims at eliciting insight into the results of ongoing research regarding evolving trends and attitudes towards online assessment of English and other languages. The focus pinpoints online as one of the most trending forms available during the global pandemic. The study was first initiated in 2019 in which its main target was to reveal the intriguing question of students’ and assessors’ attitudes towards online assessment. The research questions the attitudes towards the latest trends, possible online task types, and their advantages and disadvantages through an in-depth experimental process currently undergoing implementation. Material and methods include surveys, needs and wants analysis, and thorough investigations regarding candidates’ and assessors’ attitudes towards online tests in the field of languages. Over 400 respondents from more than 28 countries participated in the survey, which gives us an international and intercultural insight into how students with different cultural and educational background deal with the evolving online world. The results show the pandemic’s impact, which brought the slumbering online world of assessing roaring alive, fully operational, and now bears phenomenal relevance in today’s global education. Undeniably, the results can be used as a perspective in a vast array of contents. The survey hypothesized the generation of the 21st century expect everything readily available online, however, questions whether they are ready for this challenge are lurking in the background.

Keywords: assessment, english, intercultural, international, online, testing

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Authors: F. Pagliara, F. Mauriello

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The objective of this paper is to investigate the relationship between the increase of accessibility brought by high speed rail (HSR) systems and the tourism market in Italy. The impacts of HSR projects on tourism can be quantified in different ways. In this manuscript, an empirical analysis has been carried out with the aid of a dataset containing information both on tourism and transport for 99 Italian provinces during the 2006-2016 period. Panel data regression models have been considered, since they allow modelling a wide variety of correlation patterns. Results show that HSR has an impact on the choice of a given destination for Italian tourists while the presence of a second level hub mainly affects foreign tourists. Attraction variables are also significant for both categories and the variables concerning security, such as number of crimes registered in a given destination, have a negative impact on the choice of a destination.

Keywords: tourists, overnights, high speed rail, attractions, security

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Authors: Adriana Radan Ungureanu

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The industrial landscape is changing due to the financial crises, poor availability of raw materials, new discoveries and interdisciplinary collaborations. New ideas shape the change through technologies and bring responses for a better life. The process of change is leaded by big players like states and companies, but they cannot keep their places on the market without the help of the small ones. The main tool of change is technology and the entire developed world dedicated efforts for decades in this direction. Even the expectations are not yet met, the research for finding adequate solutions is far from to be stopped. A relevant example is nanotechnology where most of discoveries still remain into laboratory and could not succeed to find the right way to the market. In front of this situation the right question could be: ”Is it worth investing in nanotechnology in the name of an uncertain future but with very little impact on present?” This paper tries to find a positive answer from a three-dimensional approach using a descriptive analyse based on available database supplied by the European case studies, reports, and literature.

Keywords: Europe, KET’s, nanotechnology, technology

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Authors: Godwin Chigozie Okpara

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This paper using standard GARCH, EGARCH, and TARCH models on day of the week return series (of 246 days) from the Nigerian Stock market estimated the model variants’ VaR. An asymmetric return distribution and fat-tail phenomenon in financial time series were considered by estimating the models with normal, student t and generalized error distributions. The analysis based on Akaike Information Criterion suggests that the EGARCH model with student t innovation distribution can furnish more accurate estimate of VaR. In the light of this, we apply the likelihood ratio tests of proportional failure rates to VaR derived from EGARCH model in order to determine the short and long positions VaR performances. The result shows that as alpha ranges from 0.05 to 0.005 for short positions, the failure rate significantly exceeds the prescribed quintiles while it however shows no significant difference between the failure rate and the prescribed quantiles for long positions. This suggests that investors and portfolio managers in the Nigeria stock market have long trading position or can buy assets with concern on when the asset prices will fall. Precisely, the VaR estimates for the long position range from -4.7% for 95 percent confidence level to -10.3% for 99.5 percent confidence level.

Keywords: downside risk, value-at-risk, failure rate, kupiec LR tests, GARCH models

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Authors: Abegunde Linda, Adedeji Oluwatola

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It has become increasingly evident that large developments influence the climate within the immediate region and there are concerns that rising temperatures over developed areas could have negative impact and increase living discomfort within city boundaries. Temperature trends in Ibadan city have received minor attention, yet the area has experienced heavy urban expansion between 1972 and 2014. This research aims at examining the impact of landuse change on temperature knowing that the built environment absorbs and stores solar energy, the temperature in cities can be several degrees higher than in adjacent rural areas. This is known as the urban heat island (UHI) effect. The Landsat imagery were used to examine the landuse change for a time period of 42years (1972-2014) and Land surface temperature (LST) was obtained by converting the thermal band to a surface temperature map and zonal statistic analyses was further used to examine the relationship between landuse and temperature emission. The results showed that the settlement area increased by 200km2 while the area covered by vegetation also reduced to about 42.6% during the study period. The spatial and temporal trends of temperature are related to the gradual change in urban landcover and the settlement area has the highest emission of land surface temperature. This research provides useful insight into the temporal behavior of the Ibadan city.

Keywords: landuse, LST, remote sensing, UHI

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Authors: Peter Carter

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Comprehensive climate change indicators and trends inform the state of the climate (system) with respect to present and future climate change scenarios and the urgency of mitigation and adaptation. With data records now going back for many decades, indicator trends can complement model projections. They are provided as datasets by several climate monitoring centers, reviewed by state of the climate reports, and documented by the IPCC assessments. Up-to-date indicators are provided here. Rates of change are instructive, as are extremes. The indicators include greenhouse gas (GHG) emissions (natural and synthetic), cumulative CO2 emissions, atmospheric GHG concentrations (including CO2 equivalent), stratospheric ozone, surface ozone, radiative forcing, global average temperature increase, land temperature increase, zonal temperature increases, carbon sinks, soil moisture, sea surface temperature, ocean heat content, ocean acidification, ocean oxygen, glacier mass, Arctic temperature, Arctic sea ice (extent and volume), northern hemisphere snow cover, permafrost indices, Arctic GHG emissions, ice sheet mass, sea level rise, and stratospheric and surface ozone. Global warming is not the most reliable single metric for the climate state. Radiative forcing, atmospheric CO2 equivalent, and ocean heat content are more reliable. Global warming does not provide future commitment, whereas atmospheric CO2 equivalent does. Cumulative carbon is used for estimating carbon budgets. The forcing of aerosols is briefly addressed. Indicator interactions are included. In particular, indicators can provide insight into several crucial global warming amplifying feedback loops, which are explained. All indicators are increasing (adversely), most as fast as ever and some faster. One particularly pressing indicator is rapidly increasing global atmospheric methane. In this respect, methane emissions and sources are covered in more detail. In their application, indicators used in assessing safe planetary boundaries are included. Indicators are considered with respect to recent published papers on possible catastrophic climate change and climate system tipping thresholds. They are climate-change-policy relevant. In particular, relevant policies include the 2015 Paris Agreement on “holding the increase in the global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels” and the 1992 UN Framework Convention on Climate change, which has “stabilization of greenhouse gas concentrations in the atmosphere at a level that would prevent dangerous anthropogenic interference with the climate system.”

Keywords: climate change, climate change indicators, climate change trends, climate system change interactions

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Authors: Fabiana Franceschi, Martha Cobo, Manuel Figueredo

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Bogotá, the capital of Colombia, is its largest city and one of the most polluted in Latin America due to the fast economic growth over the last ten years. Bogotá has been affected by high pollution events which led to the high concentration of PM10 and NO2, exceeding the local 24-hour legal limits (100 and 150 g/m3 each). The most important pollutants in the city are PM10 and PM2.5 (which are associated with respiratory and cardiovascular problems) and it is known that their concentrations in the atmosphere depend on the local meteorological factors. Therefore, it is necessary to establish a relationship between the meteorological variables and the concentrations of the atmospheric pollutants such as PM10, PM2.5, CO, SO2, NO2 and O3. This study aims to determine the interrelations between meteorological variables and air pollutants in Bogotá, using data mining techniques. Data from 13 monitoring stations were collected from the Bogotá Air Quality Monitoring Network within the period 2010-2015. The Principal Component Analysis (PCA) algorithm was applied to obtain primary relations between all the parameters, and afterwards, the K-means clustering technique was implemented to corroborate those relations found previously and to find patterns in the data. PCA was also used on a per shift basis (morning, afternoon, night and early morning) to validate possible variation of the previous trends and a per year basis to verify that the identified trends have remained throughout the study time. Results demonstrated that wind speed, wind direction, temperature, and NO2 are the most influencing factors on PM10 concentrations. Furthermore, it was confirmed that high humidity episodes increased PM2,5 levels. It was also found that there are direct proportional relationships between O3 levels and wind speed and radiation, while there is an inverse relationship between O3 levels and humidity. Concentrations of SO2 increases with the presence of PM10 and decreases with the wind speed and wind direction. They proved as well that there is a decreasing trend of pollutant concentrations over the last five years. Also, in rainy periods (March-June and September-December) some trends regarding precipitations were stronger. Results obtained with K-means demonstrated that it was possible to find patterns on the data, and they also showed similar conditions and data distribution among Carvajal, Tunal and Puente Aranda stations, and also between Parque Simon Bolivar and las Ferias. It was verified that the aforementioned trends prevailed during the study period by applying the same technique per year. It was concluded that PCA algorithm is useful to establish preliminary relationships among variables, and K-means clustering to find patterns in the data and understanding its distribution. The discovery of patterns in the data allows using these clusters as an input to an Artificial Neural Network prediction model.

Keywords: air pollution, air quality modelling, data mining, particulate matter

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Authors: Juliana Osman, David Gilbert, Caroline Tan

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Innovation capability is recognized as a critical factor that contributes to promoting firm growth and wealth creation. While studies on innovation are in abundance, few empirical studies have been undertaken to examine the relationships of intellectual capital with innovation capability, and research investigating the combinations of strategic orientation dimensions is limited and virtually nothing in regard to the Malaysian context. This research investigates the impact of intellectual capital and three strategic orientations on the innovation capability and firm performance of Malaysian ICT SMEs. Data was collected from 213 firms relating to intellectual capital and the three strategic orientations; market orientation, learning orientation and technology orientation. Using partial least squares structural equation modelling (PLS-SEM) to analyse the data, results indicate that while market orientation has a direct negative relationship to firm performance, it is positively related to performance through the mediating effect of innovation capability. Learning orientation and technology orientation are mediated by innovation capability, while intellectual capital was found to be partially mediated by innovation capability. Findings indicate that firm performance is positively and significantly related to innovation capability and that market orientation, learning orientation, technology orientation and intellectual capital are all significant and positively related to innovation capability. The developed model indicates that Malaysian ICT SMEs would perform better with greater emphasis on developing innovation capability through enhancement of intellectual capital and the strategic orientations measured in this study.

Keywords: innovation capability, intellectual capital, strategic orientations, PLS-SEM

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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: 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: Maryam Maleki, Esther Mead, Mohammad Arani, Nitin Agarwal

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This study is conducted to examine how opposing viewpoints related to COVID-19 were diffused on Twitter. To accomplish this, six datasets using two epidemiological models, SIR (Susceptible, Infected, Recovered) and SEIZ (Susceptible, Exposed, Infected, Skeptics), were analyzed. The six datasets were chosen because they represent opposing viewpoints on the COVID-19 pandemic. Three of the datasets contain anti-subject hashtags, while the other three contain pro-subject hashtags. The time frame for all datasets is three years, starting from January 2020 to December 2022. The findings revealed that while both models were effective in evaluating the propagation trends of these polarizing viewpoints, the SEIZ model was more accurate with a relatively lower error rate (6.7%) compared to the SIR model (17.3%). Additionally, the relative error for both models was lower for anti-subject hashtags compared to pro-subject hashtags. By leveraging epidemiological models, insights into the propagation trends of polarizing viewpoints on Twitter were gained. This study paves the way for the development of methods to prevent the spread of ideas that lack scientific evidence while promoting the dissemination of scientifically backed ideas.

Keywords: mathematical modeling, epidemiological model, seiz model, sir model, covid-19, twitter, social network analysis, social contagion

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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: Sérgio J. Teixeira, João J. Ferreira

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Tourism frequently gets identified as one of the sectors with the greatest potential for expansion on a global scale and hence conveying the importance of attempting to better understand the regional factors of competitiveness prevailing in this sector. This study’s objective essentially strives to provide a mapping of the scientific publications and the intellectual knowledge therein contained while conveying past research trends and identifying potential future lines of research in the fields of regional competitiveness and tourism innovation. This correspondingly deploys a systematic review of the literature in keeping with the bibliometric approach based upon VOSviewer software, with a particular focus on drafting maps for visualising the underlying intellectual structure. This type of analysis encapsulates the number of articles published and their annual number of citations for the period between 1900 and 2016 as registered by the Web of Science database. The results demonstrate how the intellectual structure on regional competitiveness divides essentially into three major categories: regional competitiveness, tourism innovation, and tourism clusters. Thus, the main contribution of this study arises out of identifying the main research trends in this field and the respective shortcomings and specific needs for future scientific research in the field of regional competitiveness and innovation in tourism.

Keywords: regional competitiveness, tourism cluster, bibliometric studies, tourism innovation, systematic review

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Authors: Dawd Ahmed, Venkatesh Uddameri

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Agriculture in Ethiopia is the main economic sector influenced by agricultural drought. A simultaneous assessment of drought trends using multiple drought indicators is useful for drought planning and management. Intra-season and seasonal drought trends in Ethiopia were studied using a suite of drought indicators. Standardized Precipitation Index (SPI), Standardized Precipitation Evapotranspiration Index (SPEI), Palmer Drought Severity Index (PDSI), and Z-index for long-rainy, dry, and short-rainy seasons are used to identify drought-causing mechanisms. The Statistical software package R version 3.5.2 was used for data extraction and data analyses. Trend analysis indicated shifts in late-season long-rainy season precipitation into dry in the southwest and south-central portions of Ethiopia. Droughts during the dry season (October–January) were largely temperature controlled. Short-term temperature-controlled hydrologic processes exacerbated rainfall deficits during the short rainy season (February–May) and highlight the importance of temperature- and hydrology-induced soil dryness on the production of short-season crops such as tef. Droughts during the long-rainy season (June–September) were largely driven by precipitation declines arising from the narrowing of the intertropical convergence zone (ITCZ). Increased dryness during long-rainy season had severe consequences on the production of corn and sorghum. PDSI was an aggressive indicator of seasonal droughts suggesting the low natural resilience to combat the effects of slow-acting, moisture-depleting hydrologic processes. The lack of irrigation systems in the nation limits the ability to combat droughts and improve agricultural resilience. There is an urgent need to monitor soil moisture (a key agro-hydrologic variable) to better quantify the impacts of meteorological droughts on agricultural systems in Ethiopia.

Keywords: autocorrelation, climate change, droughts, Ethiopia, food security, palmer z-index, PDSI, SPEI, SPI, trend analysis

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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: 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: Shuk Ting Kinnia Yau

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As China has become more and more influential in the global and geo-political arena, mutual understanding between Japan and China has also become a topic of paramount importance. There have always been tensions between the two countries, but unfortunately, each country tends to blame the other for fanning emotions. This research will investigate portrayals of China and the Chinese people in Japanese media such as newspapers, TV news, TV drama, and cinema over this period, focusing on media sources that have particularly wide viewership or readership. By doing so, it attempts to detect any general trends in the positive or negative character of such portrayals and to see if they correlate with the results of surveys of attitudes among the general population. To the degree that correlations may be found, the question arises as to whether the media portrayals are a reflection of societal attitudes towards the Chinese, on one hand, or may be playing a role in promoting such attitudes, on the other. The relationship here is, without doubt, more complex than a simple one-way relationship of cause and effect, but indications of some direction of causality may be suggested by trends in one occurring before or after the other. Evidence will also be sought of possible longer-term trends in media portrayals of China and the Chinese people in Japan during the post-2012 period, i.e., Abe Shinzo’s second term as prime minister, in comparison to earlier periods. Perceptions of Japan’s view of China and the Chinese, both inside and outside the scholarly world, tend to be oversimplified and are often incomprehensive. This research calls attention to the role played by the media in promoting or de-promoting Sino-Japanese relations. By analyzing the nature and background of images of China and the Chinese people presented in the Japanese media, especially under the new Abe Regime, this research seeks to promote a more balanced and comprehensive understanding of attitudes in Japanese society towards its gigantic neighbor. Scholars have seen the increasingly fragile Sino-Japanese relationship as inseparable from the real-world political conflicts that have become more frequent in recent years and have sought to draw a correlation between the two. The influence of the media, however, remains a mostly under-explored domain in the academic world. Against this background, this research aims to provide an enriched scholarly understanding of Japan’s perception of China by investigating to what extent such perception can be seen to be affected by subjective or selective forms of presentation of China found in the Japanese media, or vice versa.

Keywords: Abe Shinzo, China, Japan, media

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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: Mohamed Abdalla Saleem, Hana Ellafi

Abstract:

The study area is located in the eastern part of the Sirt Basin, in the Sarir-Hameimat arm of the basin, south of Amal High. The area covers the northern part of the Hamemat Trough and the Rakb High. All of these tectonic elements are part of the major and common tectonics that were created when the old Sirt Arch collapsed, and most of them are trending NW-SE. This study has been conducted to investigate the subsurface structures and the sedimentology characterization of the area and attempt to define its development tectonically and stratigraphically. About 7600 land gravity measurements, 22500 gridded magnetic data, and petrographic core data from some wells were used to investigate the subsurface structural features both vertically and laterally. A third-order separation of the regional trends from the original Bouguer gravity data has been chosen. The residual gravity map reveals a significant number of high anomalies distributed in the area, separated by a group of thick sediment centers. The reduction to the pole magnetic map also shows nearly the same major trends and anomalies in the area. Applying the further interpretation filters reveals that these high anomalies are sourced from different depth levels; some are deep-rooted, and others are intruded igneous bodies within the sediment layers. The petrographic sedimentology study for some wells in the area confirmed the presence of these igneous bodies and defined their composition as most likely to be gabbro hosted by marine shale layers. Depth investigation of these anomalies by the average depth spectrum shows that the average basement depth is about 7.7 km, while the top of the intrusions is about 2.65 km, and some near-surface magnetic sources are about 1.86 km. The depth values of the magnetic anomalies and their location were estimated specifically using the 3D Euler deconvolution technique. The obtained results suggest that the maximum depth of the sources is about 4938m. The total horizontal gradient of the magnetic data shows that the trends are mostly extending NW-SE, others are NE-SW, and a third group has an N-S extension. This variety in trend direction shows that the area experienced different tectonic regimes throughout its geological history.

Keywords: sirt basin, tectonics, gravity, magnetic

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Authors: Renato Morbidelli, Carla Saltalippi, Alessia Flammini, Marco Cifrodelli, Corrado Corradini

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The trend of magnitude and frequency of extreme rainfalls seems to be different depending on the investigated area of the world. In this work, the impact of climate change on extreme rainfalls in Umbria, an inland region of central Italy, is examined using data recorded during the period 1921-2015 by 10 representative rain gauge stations. The study area is characterized by a complex orography, with altitude ranging from 200 to more than 2000 m asl. The climate is very different from zone to zone, with mean annual rainfall ranging from 650 to 1450 mm and mean annual air temperature from 3.3 to 14.2°C. Over the past 15 years, this region has been affected by four significant droughts as well as by six dangerous flood events, all with very large impact in economic terms. A least-squares linear trend analysis of annual maximums over 60 time series selected considering 6 different durations (1 h, 3 h, 6 h, 12 h, 24 h, 48 h) showed about 50% of positive and 50% of negative cases. For the same time series the non-parametrical Mann-Kendall test with a significance level 0.05 evidenced only 3% of cases characterized by a negative trend and no positive case. Further investigations have also demonstrated that the variance and covariance of each time series can be considered almost stationary. Therefore, the analysis on the magnitude of extreme rainfalls supplies the indication that an evident trend in the change of values in the Umbria region does not exist. However, also the frequency of rainfall events, with particularly high rainfall depths values, occurred during a fixed period has also to be considered. For all selected stations the 2-day rainfall events that exceed 50 mm were counted for each year, starting from the first monitored year to the end of 2015. Also, this analysis did not show predominant trends. Specifically, for all selected rain gauge stations the annual number of 2-day rainfall events that exceed the threshold value (50 mm) was slowly decreasing in time, while the annual cumulated rainfall depths corresponding to the same events evidenced trends that were not statistically significant. Overall, by using a wide available dataset and adopting simple methods, the influence of climate change on the heavy rainfalls in the Umbria region is not detected.

Keywords: climate changes, rainfall extremes, rainfall magnitude and frequency, central Italy

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

Abstract:

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: A. K. Sarathe, N. P. Patidar

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The Indian automobile sector is comprised of independent manufacturers and joint ventures with their foreign counterpart companies by making use of the Foreign Direct Investment policy of the Government of India. These manufacturers started capturing the hearts of Indian customers with their choice of technological and innovative product features, with quality and reliability. This transformed the automobile scene from a “sellers market to buyers market”. The potential benefits from the auto sector have been recognized by the planners, managers, and administrators of both the sectors –government and private. Generation of employment for the readily available technical workforce has been achieved not only through the manufacturers, but also through the growing ancillaries and service providers of the auto industries. The main purpose of this paper is to come up with the identification of possible working areas and associated job functions of mechanical and automobile diploma holders having employment opportunities in auto sector of India.

Keywords: automobile sector, diploma holder, employment, job description

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Authors: R. C. Law, Shirley Kang, T. Y. Hin, M. Z. Abdullah

Abstract:

LED technology has been evolving aggressively in recent years from incandescent bulb during older days to as small as chip scale package. It will continue to stay bright in future. As such, there is tremendous pressure to stay competitive in the market by optimizing products to next level of performance and reliability with the shortest time to market. This changes the conventional way of product design and development to virtual prototyping by means of Computer Aided Engineering (CAE). It comprises of the deployment of Finite Element Method (FEM) and Computational Fluid Dynamic (CFD). FEM accelerates the investigation for early detection of failures such as crack, improve the thermal performance of system and enhance solder joint reliability. CFD helps to simulate the flow pattern of molding material as a function of different temperature, molding parameters settings to evaluate failures like voids and displacement. This paper will briefly discuss the procedures and applications of FEM in thermal stress, solder joint reliability and CFD of compression molding in LED CSP. Integration of virtual prototyping in product development had greatly reduced the time to market. Many successful achievements with minimized number of evaluation iterations required in the scope of material, process setting, and package architecture variant have been materialized with this approach.

Keywords: LED, chip scale packaging (CSP), computational fluid dynamic (CFD), virtual prototyping

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Authors: Suhartono Suhartono

Abstract:

Issue of cost efficiency is then becoming pivotal point because public expect cost of banking operation reducing and benefited of consumers. This study examines the determinants of cost efficiency of banks operating in 8 member countries of the Association of Southeast Asian Nations (ASEAN). This study uses economics theory approach to examine the existence of economies of scale in the ASEAN Banking market especially on its impact on cost efficiency. We apply concept of average cost (AC) as a proxy for the cost efficiency. We find that economies of scale is existing in the banking market indicating scale and scope economies should be considered in the industrial policy. The stronger capital position is also positive to efficiency means stronger capitalized banks are more efficient. Bank that remunerates better tend to be more efficient as result economic capital effect.

Keywords: cost efficiency, ASEAN, economies of scale, issue of cost

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Authors: Andreas Gohs, Reinhold Kosfeld

Abstract:

This study should be of interest for practitioners who want to predict precisely the sales numbers of vehicles equipped with an innovative propulsion technology as well as for researchers interested in applied (regional) time series analysis. The study is based on the numbers of new registrations of pure electric and hybrid cars. Methods of time series analysis like ARIMA are compared with the Bass Diffusion-model concerning their forecasting performances for new registrations in Germany at the national and federal state levels. Especially it is investigated if the additional information content from regional data increases the forecasting accuracy for the national level by adding predictions for the federal states. Results of parameters of the Bass Diffusion Model estimated for Germany and its sixteen federal states are reported. While the focus of this research is on the German market, estimation results are also provided for selected European and other countries. Concerning Bass-parameters and forecasting performances, we get very different results for Germany's federal states and the member states of the European Union. This corresponds to differences across the EU-member states in the adoption process of this innovative technology. Concerning the German market, the adoption is rather proceeded in southern Germany and stays behind in Eastern Germany except for Berlin.

Keywords: bass diffusion model, electric vehicles, forecasting performance, market diffusion

Procedia PDF Downloads 159