Search results for: corporate bond portfolio

Authors: Puwanenthiren Pratheepkanth

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The main aim of this paper is to analyse existing literature (1960 -2016) on management accounting revolution by firms in a comparative perspective to see whether any differences between developed and developing countries context. The significant role that management accounting practices play in corporate finance is well established by reams of research articles. The study reveals that there are clear limitations to the literature review, it suggests that a majority of management accounting practices’ studies are focused on developed markets and that there is a scarcity of serious analyses of the situation in emerging markets.

Keywords: developed countries, developing countries, literature review, management accounting practices

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Authors: Rachid El Aidani, Phuong Nguyen-Tri, Toan Vu-Khanh

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This study intends to show the influence of the hydrolytic degradation on the properties of the e-PTFE/NOMEX® membranes used in fire-protective clothing. The modification of water vapour permeability, morphology and chemical structure was examined by MOCON Permatran, electron microscopy scanning (SEM), and ATR-FTIR, respectively. A decrease in permeability to water vapour of the aged samples was observed following closure of transpiration pores. Analysis of fiber morphology indicates the appearance of defects at the fibers surface with the presence of micro cavities as well as the of fibrils. ATR-FTIR analysis reveals the presence of a new absorption band attributed to carboxylic acid terminal groups generated during the amide bond hydrolysis.

Keywords: hydrolytic ageing, moisture membrane, water vapor permeability, morphology

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Authors: Ali Mirzabayati

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This article associates Tolkien’s concept of power with Nietzsche’s Übermensch. Despite his catholic beliefs, Tolkien refuses to create religiously motivated characters, opening room for existentialist decisions. Who is an Übermensch? What Tolkienian character resembles this concept the most? To tend to these questions, the article studies the case of Adolf Hitler and Elisabeth Nietzsche, manipulating Nietzschean philosophy. An investigation of the Nazis’ misuse of philosophy, art, and myth for political advantage introduces a Nazi version of Übermensch, best reflected in Sauron and Saruman. Unlike the Nazi version, Nietzschean Übermensch is proven to emphasize internal power and seek harmony within one’s desires. Tolkien’s best candidates for Übermensch, Aragorn and Bilbo are examined through Nietzsche’s three metamorphoses of becoming a higher spirit. What is more, I will study Nietzsche’s admiration for cheer and eating, the main characteristics of the hobbits, to strengthen his bond with Tolkien.

Keywords: Tolkien, Nietzsche, literature, fantasy, history, philosophy

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Authors: Sara Honarparast, Omar Chaallal

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Reinforced concrete (RC) coupled shear walls (CSWs) are very effective structural systems in resisting lateral loads due to winds and earthquakes and are particularly used in medium- to high-rise RC buildings. However, most of existing old RC structures were designed for gravity loads or lateral loads well below the loads specified in the current modern seismic international codes. These structures may behave in non-ductile manner due to poorly designed joints, insufficient shear reinforcement and inadequate anchorage length of the reinforcing bars. This has been the main impetus to investigate an appropriate strengthening method to address or attenuate the deficiencies of these structures. The objective of this paper is to twofold: (i) evaluate the seismic performance of existing reinforced concrete coupled shear walls under reversed cyclic loading; and (ii) investigate the seismic performance of RC CSWs strengthened with externally bonded (EB) carbon fiber reinforced polymer (CFRP) sheets. To this end, two CSWs were considered as follows: (a) the first one is representative of old CSWs and therefore was designed according to the 1941 National Building Code of Canada (NBCC, 1941) with conventionally reinforced coupling beams; and (b) the second one, representative of new CSWs, was designed according to modern NBCC 2015 and CSA/A23.3 2014 requirements with diagonally reinforced coupling beam. Both CSWs were simulated using ANSYS software. Nonlinear behavior of concrete is modeled using multilinear isotropic hardening through a multilinear stress strain curve. The elastic-perfectly plastic stress-strain curve is used to simulate the steel material. Bond stress–slip is modeled between concrete and steel reinforcement in conventional coupling beam rather than considering perfect bond to better represent the slip of the steel bars observed in the coupling beams of these CSWs. The old-designed CSW was strengthened using CFRP sheets bonded to the concrete substrate and the interface was modeled using an adhesive layer. The behavior of CFRP material is considered linear elastic up to failure. After simulating the loading and boundary conditions, the specimens are analyzed under reversed cyclic loading. The comparison of results obtained for the two unstrengthened CSWs and the one retrofitted with EB CFRP sheets reveals that the strengthening method improves the seismic performance in terms of strength, ductility, and energy dissipation capacity.

Keywords: carbon fiber reinforced polymer, coupled shear wall, coupling beam, finite element analysis, modern code, old code, strengthening

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Authors: T. Mersmann, P. Nyhuis

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In the current economic climate, for many businesses it is generally no longer sufficient to pursue exclusively economic interests. Instead, integrating ecological and social goals into the corporate targets is becoming ever more important. However, the holistic integration of these new goals is missing from current factory planning approaches. This article describes the conceptual framework for a planning methodology for sustainable factories. To this end, the description of the key areas for action is followed by a description of the principal components for the systematization of sustainability for factories and their stakeholders. Finally, a conceptual framework is presented which integrates the components formulated into an established factory planning procedure.

Keywords: factory planning, stakeholder, systematization, sustainability

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Authors: Zhikang Rong

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The 4th industrial revolution has introduced technologies like interconnectivity, machine learning, and real-time big data analytics that improve operations and business efficiency. This paper examines how these advancements have led to a concentration of wealth, specifically among the top 1%, and investigates whether this wealth provides value to society. Through analyzing impacts on employment, productivity, supply-demand dynamics, and potential externalities, it is shown that successful businesspeople, by enhancing productivity and creating jobs, contribute positively to long-term economic growth. Additionally, externalities such as environmental degradation are managed by social entrepreneurship and government policies.

Keywords: wealth creation, employment, productivity, social entrepreneurship

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Authors: Joseph M. Njoroge

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The need for urgent adaptation have triggered tourism stakeholders and research community to develop generic adaptation framework(s) for national, regional and or local tourism desti-nations. Such frameworks have been proposed to guide the tourism industry in the adaptation process with an aim of reducing tourism industry’s vulnerability and to enhance their ability to cope to climate associated externalities. However research show that current approaches are far from sustainability since the adaptation options sought are usually closely associated with development needs-‘business as usual’-where the implication of adaptation to social justice and environmental integrity are often neglected. Based on this view there is a need to look at adaptation beyond addressing vulnerability and resilience to include the need for adaptation to enhance social justice and environmental integrity. This paper reviews the existing adaptation frameworks/models and evaluates their suitability in enhancing sustainable adaptation for regional tourist destinations. It is noted that existing frameworks contradicts the basic ‘principles of sustainable adaptation’. Further attempts are made to propose a Sustainable Regional Tourism Adaptation Framework (SRTAF) to assist regional tourism stakeholders in the achieving sustainable adaptation.

Keywords: sustainable adaptation, sustainability principles, sustainability portfolio, Regional Tourism

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Authors: K. Abbas, R. Ahmad, I. A. Khan, S. Saleem, U. Ikhlaq

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Nitriding of p-type Si samples by pulsed DC glow discharge is carried out for different Ar concentrations (30% to 90%) in nitrogen-argon plasma whereas the other parameters like pressure (2 mbar), treatment time (4 hr) and power (175 W) are kept constant. The phase identification, crystal structure, crystallinity, chemical composition, surface morphology and topography of the nitrided layer are studied using X-ray diffraction (XRD), Fourier transform infra-red spectroscopy (FTIR), optical microscopy (OM), scanning electron microscopy (SEM) and atomic force microscopy (AFM) respectively. The XRD patterns reveal the development of different diffraction planes of Si₃N₄ confirming the formation of polycrystalline layer. FTIR spectrum confirms the formation of bond between Si and N. Results reveal that addition of Ar into N₂ plasma plays an important role to enhance the production of active species which facilitate the nitrogen diffusion.

Keywords: crystallinity, glow discharge, nitriding, sputtering

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Authors: Lindrianasari Stefanie, Aminah Khairudin

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This study aims to provide empirical evidence regarding the ability of Price to Earnings Ratio and PEG Ratio in predicting future stock returns issuers. The samples used in this study are stocks that go into LQ45. The main contribution is to assign empirical evidence if the PEG Ratio can provide optimum return compared to Price to Earnings Ratio. This study used a sample of the entire company into the group LQ45 with the period of observation. The data used is limited to the financial statements of a company incorporated in LQ45 period July 2013-July 2014, using the financial statements and the position of the company's closing stock price at the end of 2010 as a reference benchmark for the growth of the company's stock price compared to the closing price of 2013. This study found that the method of PEG Ratio can outperform the method of PE ratio in predicting future returns on the stock portfolio of LQ45.

Keywords: price to earnings growth, price to earnings ratio, future returns, stock price

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Authors: Isari Pairoa, Proud Arunrangsiwed

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Celebrity and brand mascot endorsement have been explored for more than three decades. Both endorsers can effectively transfer their reputation to corporate image and can influence the customers to purchase the product. However, there was little known about the mediators between the level of endorsement and its effect on buying behavior. The objective of the current study is to identify the gab of the previous studies and to seek possible mediators. It was found that consumer’s memory and identification are the mediators, of source credibility and endorsement effect. A future study should confirm the model of endorsement, which was established in the current study.

Keywords: product endorsement, memory, identification theory, source credibility, unintentional effect

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Authors: K. M. Anusha, R. Krishnaveni

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Crossing a decade of the 21st century, the paradigm of human resources can be seen evolving with the strategic gene induced into it. There seems to be a radical shift descending as the corporate sector calls on its HR team to become strategic rather than administrative. This transferal eventually requires the metrics employed by these HR teams not to be just operationally reactive but to be aligned to an evidence-based strategic thinking. Realizing the growing need for a prescriptive metric model for effective HR analytics, this study has designed a conceptual framework for a basic metric model that can assist IT-HRM professionals to transition to a practice of evidence-based decision-making to enhance organizational performance.

Keywords: metric model, evidence based HR, HR analytics, strategic HR practices, IT sector

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Authors: Wusu Conteh

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Since the 1990s, neo-liberalization has become a global agenda. The free market ushered in an unprecedented drive by Multinational Corporations (MNCs) to secure mineral rights in resource-rich countries. Several governments in the Global South implemented a liberalized mining policy with support from the International Financial Institutions (IFIs). MNCs have maintained that voluntary Corporate Social Responsibility (CSR) has engendered socio-economic development in mining-affected communities. However, most resource-rich countries are struggling to transform the resources into sustainable socio-economic development. They are trapped in what has been widely described as the ‘resource curse.’ In an attempt to address this resource conundrum, the African Mining Vision (AMV) of 2009 developed a model on resource governance. The advent of the AMV has engendered the introduction of mandatory community development agreement (CDA) into the legal framework of many countries in Africa. In 2009, Sierra Leone enacted the Mines and Minerals Act that obligates mining companies to invest in Primary Host Communities. The study employs interviews and field observation techniques to explicate the dynamics of the CDA program. A total of 25 respondents -government officials, NGOs/CSOs and community stakeholders were interviewed. The study focuses on a case study of the Sierra Rutile CDA program in Sierra Leone. Extant scholarly works have extensively explored the resource curse and voluntary CSR. There are limited studies to uncover the mandatory CDA and its impact on socio-economic development in mining-affected communities. Thus, the purpose of this study is to explicate the impact of the CDA in Sierra Leone. Using the theory of change helps to understand how the availability of mandatory funds can empower communities to take an active part in decision making related to the development of the communities. The results show that the CDA has engendered a predictable fund for community development. It has also empowered ordinary members of the community to determine the development program. However, the CDA has created a new ground for contestations between the pre-existing local governance structure (traditional authority) and the newly created community development committee (CDC) that is headed by an ordinary member of the community.

Keywords: community development agreement, impact, mandatory, participation

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Authors: Sunil Dehipawala, Aregama Sirisumana, stephan Smith, P. Schneider, G. Tremberger Jr, D. Lieberman, Todd Holden, T. Cheung

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The arsenic and iron environments in different growth stages have been studied with EXAFS and XANES using Brookhaven Synchrotron Light Source. Collard Greens plants were grown and tissue samples were harvested. The project studied the EXAFS and XANES of tissue samples using As and Fe K-edges. The Fe absorption and the Fourier transform bond length information were used as a control comparison. The Fourier transform of the XAFS data revealed the coexistence of As (III) and As (V) in the As bonding environment inside the studied plant tissue samples, although the soil only had As (III). The data suggests that Collard Greens has a novel pathway to handle arsenic absorption in soil.

Keywords: EXAFS, fourier transform, metalloproteins, XANES

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Authors: S. Jigna, K. Nanda Kumar, T. Anna

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Being a major contributor to the Indian economy and a critical facilitator for the country’s digital India vision, the Indian telecommunications industry is also a major source of employment for the country. Since the last few years, the Indian telecommunication service providers (TSPs), however, are facing business challenges related to increasing competition, losses, debts, and decreasing revenue. The strategic use of digital technologies for a successful digital transformation has the potential to equip organizations to meet these business challenges. Despite an increased focus on digital transformation, the telecom service providers globally, including Indian TSPs, have seen limited success so far. The purpose of this research was thus to identify the factors that are critical for the digital transformation and to what extent they influence the successful digital transformation of the Indian TSPs. The literature review of more than 300 digital transformation-related articles, mostly from 2013-2019, demonstrated a lack of an empirical model consisting of factors for the successful digital transformation of the TSPs. This study theorizes a research framework grounded in multiple theories, and a research model consisting of 7 constructs that may be influencing business success during the digital transformation of the organization was proposed. The questionnaire survey of senior managers in the Indian telecommunications industry was seeking to validate the research model. Based on 294 survey responses, the validation of the Structural equation model using the statistical tool ADANCO 2.1.1 was found to be robust. Results indicate that Digital Capabilities, Digital Strategy, and Corporate Level Data Strategy in that order has a strong influence on the successful Business Performance, followed by IT Function Transformation, Digital Innovation, and Transformation Management respectively. Even though Digital Organization did not have a direct significance on Business Performance outcomes, it had a strong influence on IT Function Transformation, thus affecting the Business Performance outcomes indirectly. Amongst numerous practical and theoretical contributions of the study, the main contribution for the Indian TSPs is a validated reference for prioritizing the transformation initiatives in their strategic roadmap. Also, the main contribution to the theory is the possibility to use the research framework artifact of the present research for quantitative validation in different industries and geographies.

Keywords: corporate level data strategy, digital capabilities, digital innovation, digital strategy

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Authors: Lopamudra D. Satpathy, Bani Chatterjee, Jitendra Mahakud

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The rapid economic growth in terms of output and investment necessitates a substantial growth of Total Factor Productivity (TFP) of firms which is an indicator of an economy’s technological change. The strong empirical relationship between financial sector development and economic growth clearly indicates that firms financing decisions do affect their levels of output via their investment decisions. Hence it establishes a linkage between the financial factors and productivity growth of the firms. To achieve the smooth and continuous economic growth over time, it is imperative to understand the financial channel that serves as one of the vital channels. The theoretical or logical argument behind this linkage is that when the internal financial capital is not sufficient enough for the investment, the firms always rely upon the external sources of finance. But due to the frictions and existence of information asymmetric behavior, it is always costlier for the firms to raise the external capital from the market, which in turn affect their investment sentiment and productivity. This kind of financial position of the firms puts heavy pressure on their productive activities. Keeping in view this theoretical background, the present study has tried to analyze the role of both external and internal financial factors (leverage, cash flow and liquidity) on the determination of total factor productivity of the firms of manufacturing industry and its sub-industries, maintaining a set of firm specific variables as control variables (size, age and disembodied technological intensity). An estimate of total factor productivity of the Indian manufacturing industry and sub-industries is computed using a semi-parametric approach, i.e., Levinsohn- Petrin method. It establishes the relationship between financial factors and productivity growth of 652 firms using a dynamic panel GMM method covering the time period between 1997-98 and 2012-13. From the econometric analyses, it has been found that the internal cash flow has a positive and significant impact on the productivity of overall manufacturing sector. The other financial factors like leverage and liquidity also play the significant role in the determination of total factor productivity of the Indian manufacturing sector. The significant role of internal cash flow on determination of firm-level productivity suggests that access to external finance is not available to Indian companies easily. Further, the negative impact of leverage on productivity could be due to the less developed bond market in India. These findings have certain implications for the policy makers to take various policy reforms to develop the external bond market and easily workout through which the financially constrained companies will be able to raise the financial capital in a cost-effective manner and would be able to influence their investments in the highly productive activities, which would help for the acceleration of economic growth.

Keywords: dynamic panel, financial factors, manufacturing sector, total factor productivity

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Authors: Supriyono, Sumardiyono

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Biodiesel is one of the alternative fuels that promising for substituting petrodiesel as energy source which is have advantage on sustainability and eco-friendly. Due to the raw material that tend to decompose during storage, biodiesel also have the same characteristic that tend to decompose and formed higher acid value which is the result of oxidation to double bond on a chain of ester. Decomposition of biodiesel due to oxidation reaction could prevent by introduce a small amount of antioxidant. The origin of raw materials and the process for producing biodiesel will determine the effectiveness of antioxidant. The quality degradation on biodiesel could evaluated by measuring iodine value and acid number of biodiesel. Biodiesel made from High Fatty Acid Jatropha curcas oil equality by using esterification and esterification process will stand on the quality by introduce 90 ppm pyrogallol powder on the biodiesel, which could extend the quality from 2 hours to more than 6 hours in rancimat test evaluation.

Keywords: biodiesel, antioxidant, iodine number, acid value

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Authors: Sofie Verstraete, Stijn Debruyne, Frederik Desplentere

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Considering environmental issues, the interest to apply sustainable materials in industry increases. Specifically for composites, there is an emerging need for suitable materials and bonding techniques. As an alternative to traditional composites, short bio-fiber (cellulose-based flax) reinforced Polylactic Acid (PLA) is gaining popularity. However, these thermoplastic based composites show issues in adhesive bonding. This research focusses on analyzing the effects of the fibers near the bonding interphase. The research applies injection molded plate structures. A first important parameter concerns the fiber volume fraction, which directly affects adhesion characteristics of the surface. This parameter is varied between 0 (pure PLA) and 30%. Next to fiber volume fraction, the orientation of fibers near the bonding surface governs the adhesion characteristics of the injection molded parts. This parameter is not directly controlled in this work, but its effects are analyzed. Surface roughness also greatly determines surface wettability, thus adhesion. Therefore, this research work considers three different roughness conditions. Different mechanical treatments yield values up to 0.5 mm. In this preliminary research, only one adhesive type is considered. This is a two-part epoxy which is cured at 23 °C for 48 hours. In order to assure a dedicated parametric study, simple and reproduceable adhesive bonds are manufactured. Both single lap (substrate width 25 mm, thickness 3 mm, overlap length 10 mm) and double lap tests are considered since these are well documented and quite straightforward to conduct. These tests are conducted for the different substrate and surface conditions. Dog bone tensile testing is applied to retrieve the stiffness and strength characteristics of the substrates (with different fiber volume fractions). Numerical modelling (non-linear FEA) relates the effects of the considered parameters on the stiffness and strength of the different joints, obtained through the abovementioned tests. Ongoing work deals with developing dedicated numerical models, incorporating the different considered adhesion parameters. Although this work is the start of an extensive research project on the bonding characteristics of thermoplastic bio-fiber reinforced composites, some interesting results are already prominent. Firstly, a clear correlation between the surface roughness and the wettability of the substrates is observed. Given the adhesive type (and viscosity), it is noticed that an increase in surface energy is proportional to the surface roughness, to some extent. This becomes more pronounced when fiber volume fraction increases. Secondly, ultimate bond strength (single lap) also increases with increasing fiber volume fraction. On a macroscopic level, this confirms the positive effect of fibers near the adhesive bond line.

Keywords: adhesive bonding, bio-fiber reinforced composite, flax fibers, lap joint

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Authors: Vijay Kumar Kutala, Addepalli Pavani, M. Amresh Rao, Naushad Sm

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In this study, we evaluated the impact of CYP2C9*2 and CYP2C9*3 variants on binding and hydroxylation of warfarin. In silico data revealed that warfarin forms two hydrogen bonds with protein backbone i.e. I205 and S209, one hydrogen bond with protein side chain i.e. T301 and stacking interaction with F100 in CYP2C9*1. In CYP2C9*2 and CYP2C9*3 variants, two hydrogen bonds with protein backbone are disrupted. In double variant, all the hydrogen bonds are disrupted. The distances between C7 of S-warfarin and Fe-O in CYP2C9*1, CYP2C9*2, CYP2C9*3 and CYP2C9*2/*3 were 5.81A°, 7.02A°, 7.43° and 10.07°, respectively. The glide scores (Kcal/mol) were -7.698, -7.380, -6.821 and -6.986, respectively. Increase in warfarin/7-hydroxy warfarin ratio was observed with increase in variant alleles. To conclude, CYP2C9*2 and CYP2C9*3 variants result in disruption of hydrogen bonding interactions with warfarin and longer distance between C7 and Fe-O thus impairing warfarin 7-hydroxylation due to lower binding affinity of warfarin.

Keywords: warfarin, CYP2C9 polymorphism, personalized medicine, in Silico

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Authors: Xinyi Xu

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This study conducts a detailed examination of Asian stock markets over the period from 2008 to 2023, with a focus on the dynamics of cointegration and their relevance for long-term investment strategies. Specifically, we assess the co-movement and potential for pairs trading—a strategy where investors take opposing positions on two stocks, indices, or financial instruments that historically move together. For example, we explore the relationship between the Nikkei 225 (N225), Japan’s benchmark stock index, and the Straits Times Index (STI) of Singapore, as well as the relationship between the Korea Composite Stock Price Index (KS11) and the STI. The methodology includes tests for normality, stationarity, cointegration, and the application of Vector Error Correction Modeling (VECM). Our findings reveal significant long-term relationships between these pairs, indicating opportunities for pairs trading strategies. Furthermore, the research underscores the challenges posed by model instability and the influence of major global incidents, which are identified as structural breaks. These findings pave the way for further exploration into the intricacies of financial market dynamics.

Keywords: normality tests, stationarity, cointegration, VECM, pairs trading

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Authors: J. Becker, R. Arnold

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The design of distribution logistics has a decisive impact on a company's logistics costs and performance. Hence, such solutions make an essential contribution to corporate success. This article describes a decision support system for analyzing the potential of distribution logistics in terms of logistics costs and performance. In contrast to previous procedures of business process re-engineering (BPR), this method maps distribution logistics holistically under variable distribution structures. Combined with qualitative measures the decision support system will contribute to a more efficient design of distribution logistics.

Keywords: decision support system, distribution logistics, potential analyses, supply chain management

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Authors: Opemiposi Adegbulu

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Conflicts of interest is an elusive, diverse and engaging subject, a cross-cutting problem of governance; all levels of governance, ranging from local to global, public to corporate or financial sectors. In all these areas, its mismanagement could lead to the distortion of decision-making processes, corrosion of trust and the weakening of administration. According to Professor Peters, an expert in the area, conflict of interest, a problem at the root of many scandals has “become a pervasive ethical concern in our professional, organisational, and political life”. Conflicts of interest corrode trust, and like in the public sector, trust is mandatory for the market, consumers/clients, shareholders and other stakeholders in the private sector. However, conflicts of interest in the private sector are distinct and must be treated in like manner when regulatory efforts are made to address them. The research looks at identifying conflicts of interest in the private sector and differentiating them from those in the public sector. The public interest is submitted as a criterion which allows for such differentiation. This is significant because it would for the use of tailor-made or sector-specific approaches to addressing this complex issue. This is conducted through extensive review of literature and theories on the definition of conflicts of interest. This study will employ theoretical, doctrinal and comparative methods. The nature of conflicts of interest in the private sector will be explored, through an analysis of the public sector where the notion of conflicts of interest appears more clearly identified, reasons, why they are of business ethics concern, will be advanced, and then, once again, looking at public sector solutions and other solutions, the study will identify ways of mitigating and managing conflicts in the private sector. An exploration of public sector conflicts of interest and solutions will be carried out because the typologies of conflicts of interest in both sectors appear very similar at the core and thus, lessons can be learnt with regards to the management of these issues in the private sector. Conflicts of interest corrode trust, and like in the public sector, trust is mandatory for the market, consumers/clients, shareholders and other stakeholders in the private sector. This research will then focus on some specific challenges to understanding and identifying conflicts of interest in the private sector; origin, diverging theories, the psychological barrier to the definition, similarities with public sector conflicts of interest due to the notions of corrosion of trust, ‘being in a particular kind of situation,’ etc. The notion of public interest will be submitted as a key element at the heart of the distinction between public sector and private sector conflicts of interests. It will then be proposed that the appreciation of the notion of conflicts of interest differ according to sector, country to country, based on the public interest test, using the United Kingdom (UK), the United States of America (US), France and the Philippines as illustrations.

Keywords: conflicts of interest, corporate governance, global governance, public interest

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Authors: Renuka H. Deshmukh, Snehal Nifadkar, Anil P. Dongre

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The research study aims to analyze the financial performance of the companies associated with CDM projects implemented in India from 2001 to 2014 by calculating net profit with and without CDM revenue. Further the study also highlights the Year-wise and sector-wise lending to CDM projects in India as well as in the state of Maharashtra. The study further aims to examine the year-wise trend of Certified Emission Reductions (CER) issued by the CDM projects implemented in Maharashtra from 2001-2014. The study as well analyses the responses of selected corporate with respect to the challenges in implementing and obtaining finance from commercial banks.

Keywords: adaptation costs, internal rate of return, mitigation, vulnerability, CER

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Authors: Birce Boga Bakirli

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In this paper, we investigate ideas on human capital development and management in industries. We structured a model to be able to gather the data from the interviews conducted with worker, specialists and owners of companies. Different aspects of the situation are found in these interviews, and we used the information to model the benefit of the business owners and workers perspectives. These are modelled as a bi-level programming problem. Several instances of the generic cases are solved. The results show the importance of education within and out of the company for workers, and it returns for the company.

Keywords: bi-level programming, corporate strategy, cost tradeoffs, human capital, mixed integer programming, Stackelberg game, supplier relations, strategic planning

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Authors: Feddaoui Amina

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Through this study we will try to shed light on the theoretical framework proposed for understanding creative accounting as a financial numbers game and one of the most important techniques of accounts manipulation, its main actors and its practices. We will discover the role of the modified Jones model (1995) in detecting creative accounting practices using discretionary accruals. Finally we will try to confirm the importance and the need to address this type of practices using corporate governance as a main control system and an important defense line to reduce these dangerous accounts manipulation.

Keywords: financial numbers game, creative accounting, modified Jones model, accounts manipulation

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Authors: Mohammad Mahdi Mozaffari, Mehdi Ajalli, Delaram Jafargholi

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The main purpose of this study is to investigate the impact of the system of ERP (Enterprise Resource Planning) and SCM (Supply Chain Management) on the competitive advantage and performance of Mamot Company. The methods for collecting information in this study are library studies and field research. A questionnaire was used to collect the data needed to determine the relationship between the variables of the research. This questionnaire contains 38 questions. The direction of the current research is applied. The statistical population of this study consists of managers and experts who are familiar with the SCM system and ERP. Number of statistical society is 210. The sampling method is simple in this research. The sample size is 136 people. Also, among the distributed questionnaires, Reliability of the Cronbach's Alpha Cronbach's Questionnaire is evaluated and its value is more than 70%. Therefore, it confirms reliability. And formal validity has been used to determine the validity of the questionnaire, and the validity of the questionnaire is confirmed by the fact that the score of the impact is greater than 1.5. In the present study, one variable analysis was used for central indicators, dispersion and deviation from symmetry, and a general picture of the society was obtained. Also, two variables were analyzed to test the hypotheses; measure the correlation coefficient between variables using structural equations, SPSS software was used. Finally, multivariate analysis was used with statistical techniques related to the SPLS structural equations to determine the effects of independent variables on the dependent variables of the research to determine the structural relationships between the variables. The results of the test of research hypotheses indicate that: 1. Supply chain management practices have a positive impact on the competitive advantage of the Mammoth industrial complex. 2. Supply chain management practices have a positive impact on the performance of the Mammoth industrial complex. 3. Planning system Organizational resources have a positive impact on the performance of the Mammoth industrial complex. 4. The system of enterprise resource planning has a positive impact on Mamot's competitive advantage. 5.The competitive advantage has a positive impact on the performance of the Mammoth industrial complex 6.The system of enterprise resource planning Mamot Industrial Complex Supply Chain Management has a positive impact. The above results indicate that the system of enterprise resource planning and supply chain management has an impact on the competitive advantage and corporate performance of Mamot Company.

Keywords: enterprise resource planning, supply chain management, competitive advantage, Mamot company performance

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Authors: Jamilatuzzahro, Rezzy Eko Caraka

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The yield curve is the plot of the yield to maturity of zero-coupon bonds against maturity. In practice, the yield curve is not observed but must be extracted from observed bond prices for a set of (usually) incomplete maturities. There exist many methodologies and theory to analyze of yield curve. We use two methods (the Nelson-Siegel Method, the Svensson Method, and the SVR method) in order to construct and compare our zero-coupon yield curves. The objectives of this research were: (i) to study the adequacy of NSS model and SVR to Indonesian government bonds data, (ii) to choose the best optimization or estimation method for NSS model and SVR. To obtain that objective, this research was done by the following steps: data preparation, cleaning or filtering data, modeling, and model evaluation.

Keywords: support vector regression, Nelson-Siegel-Svensson, yield curve, Indonesian government

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Authors: Mehdi Rostamzadeh

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Genetic Algorithms (GAs) are an adaptive heuristic search algorithm premised on the evolutionary ideas of natural selection and genetic. In this study, we apply GAs for fundamental and technical models of exchange rate determination in exchange rate market. In this framework, we estimated absolute and relative purchasing power parity, Mundell-Fleming, sticky and flexible prices (monetary models), equilibrium exchange rate and portfolio balance model as fundamental models and Auto Regressive (AR), Moving Average (MA), Auto-Regressive with Moving Average (ARMA) and Mean Reversion (MR) as technical models for Iranian Rial against European Union’s Euro using monthly data from January 1992 to December 2014. Then, we put these models into the genetic algorithm system for measuring their optimal weight for each model. These optimal weights have been measured according to four criteria i.e. R-Squared (R2), mean square error (MSE), mean absolute percentage error (MAPE) and root mean square error (RMSE).Based on obtained Results, it seems that for explaining of Iranian Rial against EU Euro exchange rate behavior, fundamental models are better than technical models.

Keywords: exchange rate, genetic algorithm, fundamental models, technical models

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Authors: Renaud Gaucher

Abstract:

Research on happiness has developed significantly in the past fifty years and economics and the political science are starting to be influenced by advances in the field. Until recently, finance has stayed outside this movement. The goal of our research is to integrate finance into this movement conceptually. We explain the why, the what and the how of the finance of happiness. We then study the relationship between corporate finance and happiness. We discuss the optimization of the relationship between the financial performance of a firm and the happiness at work of its employees, and the reduction of financial risk by developing goods that foster the happiness of their users. Finally we look at the development of happiness investment funds, that is investment funds founded on happiness research, and the best ways to share risks and earnings to build a happier society.

Keywords: finance, happiness, investment fund, risk

Procedia PDF Downloads 187

Authors: K. Y. You, Y. L. Then

Abstract:

In the recent years, the hair building fiber has become popular, in other words, it is an effective method which helps people who suffer hair loss or sparse hair since the hair building fiber is capable to create a natural look of simulated hair rapidly. In the markets, there are a lot of hair fiber brands that have been designed to formulate an intense bond with hair strands and make the hair appear more voluminous instantly. However, those products have their own set of properties. Thus, in this report, some measurement techniques are proposed to identify those products. Up to five different brands of hair fiber are tested. The electrostatic and dielectric properties of the hair fibers are macroscopically tested using design DC and high-frequency microwave techniques. Besides, the hair fibers are microscopically analysis by magnifying the structures of the fiber using scanning electron microscope (SEM). From the SEM photos, the comparison of the uniformly shaped and broken rate of the hair fibers in the different bulk samples can be observed respectively.

Keywords: hair fiber, electrostatic, dielectric properties, broken rate, microwave techniques

Procedia PDF Downloads 309

Authors: Volodymyr Rombakh

Abstract:

This article was written to substantiate the possibility of detecting the precursors of catastrophic destruction of a structure or device and stopping operation before it. Damage to solids results from breaking the bond between atoms, which requires energy. Modern theories of strength and fracture assume that such energy is due to stress. However, in a letter to W. Thomson (Lord Kelvin) dated December 18, 1856, J.C. Maxwell provided evidence that elastic energy cannot destroy solids. He proposed an equation for estimating a deformable body's energy, equal to the sum of two energies. Due to symmetrical compression, the first term does not change, but the second term is distortion without compression. Both types of energy are represented in the equation as a quadratic function of strain, but Maxwell repeatedly wrote that it is not stress but strain. Furthermore, he notes that the nature of the energy causing the distortion is unknown to him. An article devoted to theories of elasticity was published in 1850. Maxwell tried to express mechanical properties with the help of optics, which became possible only after the creation of quantum mechanics. However, Maxwell's work on elasticity is not cited in the theories of strength and fracture. The authors of these theories and their associates are still trying to describe the phenomena they observe based on classical mechanics. The study of Faraday's experiments, Maxwell's and Rutherford's ideas, made it possible to discover a previously unknown area of electromagnetic radiation. The properties of photons emitted in this reaction are fundamentally different from those of photons emitted in nuclear reactions and are caused by the transition of electrons in an atom. The photons released during all processes in the universe, including from plants and organs in natural conditions; their penetrating power in metal is millions of times greater than that of one of the gamma rays. However, they are not non-invasive. This apparent contradiction is because the chaotic motion of protons is accompanied by the chaotic radiation of photons in time and space. Such photons are not coherent. The energy of a solitary photon is insufficient to break the bond between atoms, one of the stages of which is ionization. The photographs registered the rail deformation by 113 cars, while the Gaiger Counter did not. The author's studies show that the cause of damage to a solid is the breakage of bonds between a finite number of atoms due to the stimulated emission of metastable atoms. The guarantee of the reliability of the structure is the ratio of the energy dissipation rate to the energy accumulation rate, but not the strength, which is not a physical parameter since it cannot be measured or calculated. The possibility of continuous control of this ratio is due to the spontaneous emission of photons by metastable atoms. The article presents calculation examples of the destruction of energy and photographs due to the action of photons emitted during the atomic-proton reaction.

Keywords: atomic-proton reaction, precursors of man-made disasters, strain, stress

Procedia PDF Downloads 88