Search results for: oil company’s revenue

Authors: Talha Sareshwala

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The purpose of this research paper is to help entrepreneurs build an environment of trust, transparency and accountability necessary for fostering long term investment, financial stability and business integrity and to guide future Entrepreneurs into a promising future. The study presents a broader review on Corporate Governance, starting from its definition and antecedents. This is the most important aspect of ethical business. In fact, the 3 main pillars of corporate governance are: Transparency; Accountability; Security. The combination of these 3 pillars in running a company successfully and forming solid professional relationships among its stakeholders, which includes key managerial employees and, most important, the shareholders This paper is sharing an experience how an entrepreneur can act as a catalyst while ensuring them that ethics and transparency do pay in business when followed in true spirit and action.

Keywords: business, entrepreneur, ethics, governance, transparency.

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Authors: Vorya Shabrandi

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The study factors of poverty and inequality causes in countries is the subject of many scholars and economists in the last century, theorists in various areas of economic science know different factors as the roots of poverty and inequality in Iran after the 1979 revolution. Economists have emphasized political elements and political scientists on political elements. This research reviews the political economy of poverty and corruption in Iran after the revolution. The findings of this research, based on AcemOgluand Robinson theory, show how the institutional structural dependence of Iran's economy to raw has led to the growth of its non-economic economic institutions and its consequence of the continuity of the release and looting economy and poverty and inequality in Iran's political economy Is. This research was carried out using descriptive-analytical and comparative methods. Many economists try to justify the conditions of the country based on war, sanctions; And the external factors, and ... knows. In this study, we tried to examine the roots of poverty and the looting economy of Iran by implementing Research AcemOgluand Robinson on the institutions and roots of poverty. Looking for a framework for understanding why countries, such as Iran, the reason for the difference in revenue in different countries, as well as the poor or wealth of countries, regardless of the non-effective and non-professional institutions, and why inefficient institutions in some countries, such as Iran, such as Iran It remains and does not have a voluntary political powers to change these institutions. Findings The research shows that institutions are broadly the main reason for the roots of the robust and looting economy (poverty and inequality) in Iran.

Keywords: Iran, plunderable (Loot) economy, raw shopping, poverty and inequality, acem oglu and robinson, non-inclusive institutions

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Authors: Aderonke Oluseun Akinwumi, Olusola A. Komolaf

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This paper gives information about the wide array of challenges facing both the electric utilities and consumers in the distribution system in developing countries, using Obafemi Awolowo University, Ile-Ife Nigeria as a case study. It also proffers cost-effective solution through remote monitoring, diagnostic and operation of distribution networks without compromising the system reliability. As utilities move from manned and unintelligent networks to completely unmanned smart grids, switching activities at substations and feeders will be managed and controlled remotely by dedicated systems hence this design. The Substation Remote Diagnostic and Operation Solution (sRDOs) would remotely monitor the load on Medium Voltage (MV) and Low Voltage (LV) feeders as well as distribution transformers and allow the utility disconnect non-paying customers with absolutely no extra resource deployment and without interrupting supply to paying customers. The aftermath of the implementation of this design improved the lifetime of key distribution infrastructure by automatically isolating feeders during overload conditions and more importantly erring consumers. This increased the ratio of revenue generated on electricity bills to total network load.

Keywords: electric utility, consumers, remote monitoring, diagnostic, system reliability, manned and unintelligent networks, unmanned smart grids, switching activities, medium voltage, low voltage, distribution transformer

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Authors: George Nyori Makari, J. M. Ogola

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Over the past few decades, manufacturing has evolved from a more labor-intensive set of mechanical processes to a sophisticated set of information based technology processes. With the existence of various advanced manufacturing technologies (AMTs), more and more functions or jobs are performed by these machines instead of human labour. This study was undertaken in order to research the extent of AMTs adoption in manufacturing companies in Kenya. In order to investigate a survey was conducted via questionnaires that were sent to 183 selected AMT manufacturing companies in Kenya. 92 companies responded positively. All the surveyed companies were found to have a measure of investment in at least two of the 14 types of AMTs investigated. In general the company surveyed showed that the level of AMT adoption in Kenya is very low with investments levels at a mean of 2.057 and integration levels at a mean of 1.639 in a scale of 1-5.

Keywords: AMT adoption, AMT investments, AMT integration, companies in Kenya

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Authors: Wee Tong Liaw, Elaine Wong Yee Sing

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The main objective and focus of this study are to establish the significance of a sustained health promoting workplace on stock and portfolio returns focusing on companies listed on the Singapore stock exchange, using a two-factor model comprising of the single factor CAPM and a 'health promoting workplace' factor. The 'health promoting workplace' factor represents the excess returns derived between two portfolios of component stocks that, when combined, would represent a top tier stock market index in Singapore, namely the STI index. The first portfolio represents companies that are independently assessed by the Singapore’s Health Award, SHA, to have a sustained and comprehensive health promoting workplace (SHA-STI portfolio) and the second portfolio represents companies that had not been independently assessed (Non-SHA STI portfolio). Since 2001, many companies in Singapore have voluntarily participated in the bi-annual Singapore HEALTH Award initiated by the Health Promotion Board of Singapore (HPB). The Singapore HEALTH Award (SHA), is an industry-wide award and assessment process. SHA assesses and recognizes employers in Singapore for implementing a comprehensive and sustainable health promotion programme at their workplaces. When using a ten year holding period instead of a one year holding period, excess returns in the SHA-STI portfolio over Non-SHA STI portfolio were consistently being observed over all test periods, during 2001 to 2013. In addition, when applied to the SHA-STI portfolio, results from the Two Factor Model consistently revealed higher explanatory powers across all test periods for the portfolio as well as all the individual component stocks in SHA-STI portfolio, than the single factor CAPM model. However, with respect to attaining higher level of achievement in the Singapore Health Award, this study did not show any incentive for selecting listed companies that have achieved a higher level of award. Results from this study would give further insights to investors and fund managers alike who intend to consider health promoting workplace as a risk factor in their stock or portfolio selection process, in particular for investors who have a preference for STI’s component stocks and with a longer investment horizon. Key micro factors like management abilities, business development strategies and production capabilities that meet the needs of market would create the demand for a company’s product(s) or service(s) and consequently contribute to its top line and profitability. Thereafter, the existence of a sustainable health promoting workplace would be a key catalytic factor in sustaining a productive workforce needed to support the continued success of a profitable business.

Keywords: asset pricing model, company's performance, stock returns, financial risk factor, sustained health promoting workplace

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Authors: Francis O. Iyoha, Daniel E. Gberevbie, Charles T. Iruonagbe, Matthew E. Egharevba

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Cost of governance in Nigeria has become a challenge to development and concern to practitioners and scholars alike in the field of business and social science research. It has been observed that it takes 70 percent of the nation’s revenue to maintain less than 20 percent of the Nigerian population that are public servants. Furthermore, it has been observed that on a consistent yearly basis, the recurrent expenditure of government from the national budget keeps rising, while capital expenditure meant for development keeps falling. The implication is that development is stagnated in the country. For instance, in the 2010 national budget of NGN4.60tn or USD28.75b, only NGN1.80tn or USD11.15b was set aside for capital expenditure. Also, in the 2013 national budget of NGN4.92tn or USD30.75b, only NGN1.50tn or USD9.38b was set aside for capital expenditure. Therefore, with the analysis of secondary data, this study examined the reasons for the high cost of governance in Nigeria. It observed that the high cost of governance in the country is in the interest of the ruling class, arising from their unethical behaviour – corrupt practices and the poor management of public resources. As a result, the study recommends the need to intensify the war against corruption and mismanagement of public resources by government officials as possible solution to overcome the high cost of governance in Nigeria. This could be achieved by strengthening the constitutional powers of the various anti-corruption agencies in the area of arrest, investigation and prosecution of offenders without the interference of the executive arm of government either at the local, state or federal level.

Keywords: cost of governance, capital expenditure, recurrent expenditure, unethical behavior, Nigeria

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Authors: Emmanuel Dangana Monday

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Africa as a continent has been ravaged and bedeviled by series of political conflicts associated with politics and power-sharing maneuvering. As a result it has become the most unstable continent in the world in terms of power distribution and stable political culture. This paper examines the efficacy of conscious and deliberate power-sharing strategies to settle or resolve political conflicts in Africa in the arrangements of creation of states, revenue and resources allocation, and office distribution systems. The study is concerned with the spatial impact of conflicts generated in some renowned African countries in which power-sharing would have been a solution. Ethno-regional elite groups are identified as the major actors in the struggles for the distribution of territorial, economic and political powers in Africa. The struggle for power has become so intense that it has degenerated to conflicts and wars of inter and intra-political classes and parties respectively. Secondary data and deductive techniques were used in data collection and analysis. It is discovered that power-sharing has become an indispensable tool to curb the incessant political and power crisis in Africa. It is one of the finest tolerable modality of mediating elite’ competition, since it reflects the interests of both the dominant and the perceived marginalized groups. The study recommends that countries and regions of political, ethnic and religious differences in Africa should employed power-sharing strategy in order to avoid unnecessary political tension and resultant crisis. Interest groups should always come to the negotiation table to reach a realistic, durable and expected compromise to secure a peacefully resolute Africa.

Keywords: Africa, power-sharing, conflicts, politics and political stability

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Authors: Kim Byung-Kon, Kim Young-Jin

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As project opportunities for the Architecture, Engineering and Construction (AEC) industry have grown more complex and larger, the utilization of BIM (Building Information Modeling) technologies for 3D design and simulation practices has been increasing significantly; the typical applications of the BIM technologies include clash detection and design alternative based on 3D planning, which have been expanded over to the technology of construction management in the AEC industry for virtual design and construction. As for now, commercial BIM software has been operated under a single-user environment, which is why initial costs for its introduction are very high. Cloud computing, one of the most promising next-generation Internet technologies, enables simple Internet devices to use services and resources provided with BIM software. Recently in Korea, studies to link between BIM and cloud computing technologies have been directed toward saving costs to build BIM-related infrastructure, and providing various BIM services for small- and medium-sized enterprises (SMEs). This study addressed how to develop the usage metering functions of BIM software under cloud computing architecture in order to archive and use BIM data and create an optimal revenue structure so that the BIM services may grow spontaneously, considering a demand for cloud resources. To this end, the author surveyed relevant cases, and then analyzed needs and requirements from AEC industry. Based on the results & findings of the foregoing survey & analysis, the author proposed herein how to optimally develop the usage metering functions of cloud BIM software.

Keywords: construction IT, BIM (Building Information Modeling), cloud computing, BIM-based cloud computing, 3D design, cloud BIM

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Authors: Tomasz L. Nawrocki

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Due to the growing global interest of investment society in innovative enterprises, as the objective of this research was adopted to examine the investment efficiency in shares of companies with innovative characteristics in the risk-return layout. The research was carried out for companies listed on the Warsaw Stock Exchange taking into various consideration time ranges of investment. Obtained results show that in shorter periods of time, investors buy expectations connected with innovative companies and therefore the efficiency of investment in their shares is relatively high, but in the longer term expectations are revised by companies financial results, which in turn negatively affects the efficiency of investment in their shares.

Keywords: capital market, innovative company, investment strategies, risk and return analysis

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Authors: Pedro M. Abreu, Bruno R. Mendes

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The management of pharmacotherapy and the process of dispensing medicines is becoming critical in clinical pharmacy due to the increase of incidence and prevalence of chronic diseases, the complexity and customization of therapeutic regimens, the introduction of innovative and more expensive medicines, the unbalanced relation between expenditure and revenue as well as due to the lack of rationalization associated with medication use. For these reasons, co-payments emerged in Europe in the 70s and have been applied over the past few years in healthcare. Co-payments lead to a rationing and rationalization of user’s access under healthcare services and products, and simultaneously, to a qualification and improvement of the services and products for the end-user. This analysis, under hospital practices particularly and co-payment strategies in general, was carried out on all the European regions and identified four reference countries, that apply repeatedly this tool and with different approaches. The structure, content and adaptation of European co-payments were analyzed through 7 qualitative attributes and 19 performance indicators, and the results expressed in a scorecard, allowing to conclude that the German models (total score of 68,2% and 63,6% in both elected co-payments) can collect more compliance and effectiveness, the English models (total score of 50%) can be more accessible, and the French models (total score of 50%) can be more adequate to the socio-economic and legal framework. Other European models did not show the same quality and/or performance, so were not taken as a standard in the future design of co-payments strategies. In this sense, we can see in the co-payments a strategy not only to moderate the consumption of healthcare products and services, but especially to improve them, as well as a strategy to increment the value that the end-user assigns to these services and products, such as medicines.

Keywords: clinical pharmacy, co-payments, healthcare, medicines

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Authors: Qing Cao

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Generally speaking, China has a relatively high level of intellectual property (IP) infringement. Risk assessment is indispensable in the strategic planning process. To complement the current literature in international business, the paper sheds the light on how to assess IP risk for foreign companies in planning market entry to China. Evaluating internal and external IP environment, proposed in the paper, consists of external analysis, internal analysis and further internal analysis. Through position the company’s IP environment, the risk assessment approach enables the foreign companies to either build the corresponding IP strategies or abort the entry plan beforehand to minimize the IP risks.

Keywords: intellectual property, IP environment, risk assessment

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Authors: Santi Mutiara Asih, Sinta Kemala Asih

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Along with the development of tourism in Indonesia, which is increasingly a lot of domestic and foreign public interest in sharia tourism, the Indonesian government is currently developing the program. It was seen that this program would have a good impact, especially for Indonesian tourism. So it is necessary to develop appropriate marketing strategies. Then to develop tourism prospects sharia government could use such a marketing strategy, for instance, marketing mix and Segmenting, Targeting, and Positioning (STP). The marketing mix is a set of marketing tools used by a state or a company to continue achieving its marketing objectives in target market. STP is the most important initial step in identifying customer value. In such away, it is expected from the use of this strategy could make sharia tourism as a market leader in the field of tourism in Indonesia, it also could attract more tourists to visit and increase economic returns.

Keywords: STP, marketing mix, market leader, sharia tourism

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Authors: Ocotlán Díaz-Parra, Jorge A. Ruiz-Vanoye, Alejandro Fuentes-Penna, Beatriz Bernabe-Loranca, Patricia Ambrocio-Cruz, José J. Hernández-Flores

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The Maritime Platform Transport Problem of Solid, Special and Dangerous Waste consist of to minimize the monetary value of carry different types of waste from one location to another location using ships. We offer a novel mathematical, the characterization of the problem and the use CPLEX to find the optimal values to solve the Solid, Special and Hazardous Waste Transportation Problem of offshore platforms instances of Mexican state-owned petroleum company (PEMEX). The set of instances used are WTPLib real instances and the tool CPLEX solver to solve the MPTPSSDW problem.

Keywords: oil platform, transport problem, waste, solid waste

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Authors: Opemiposi Adegbulu

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The research investigates the existence of a public interest consideration or rationale for the management of directors’ conflicts of interest within large public corporations. This is conducted through extensive literature review and theories on the definition of conflicts of interest, the firm and purposes of the fiduciary duty of loyalty under which the management of these conflicts of interest find their foundation. Conflicts of interest is an elusive, diverse and engaging subject, a cross-cutting problem of governance which involves all levels of governance, ranging from local to global, public to corporate or financial sectors. It is a common issue that affects corporate governance and corporate culture, having a negative impact on the reputation of corporations and their trustworthiness. It is clear that addressing this issue is imperative for good governance of corporations as they are increasingly becoming and are powerful global economies with significant power and influence in the society. Similarly, the bargaining power of these powerful corporations has been recognised by international organisations such as the UN and the OECD. This is made evident by the increasing calls and push for greater responsibility of these corporations for environmental and social disasters caused by their corporate activities and their impact in various parts of the world. Equally, in the US, the Sarbanes-Oxley Act like other legislation and regulatory efforts made to manage conflicts of interest linked to corporate governance, in many countries indicates that there is a (global) public interest in the maintenance of the orderly functioning of commerce. Consequently, the governance of these corporations is tremendously pivotal to the society as it touches upon a key aspect of the good functioning of society. This is because corporations, particularly large international corporations can be said to be the plumbing of the global economy. This study will employ theoretical, doctrinal and comparative methods. The research will make use largely of theory-guided methodology and theoretical framework – theories of the firm, public interest, regulation, conflicts of interest in general, directors’ conflicts of interest and corporate governance. Although, the research is intended to be narrowed down to the topic of conflicts of interest in corporate governance, the subject of company directors’ duty of loyalty and the management of conflicts of interest, an examination of the history, origin and typology of conflicts of interest in general will be carried out in order to identify some specific challenges to understanding and identifying these conflicts of interest; origin, diverging theories, psychological barrier to definition, similarities with public sector conflicts of interest due to the notions of corrosion of trust, the effect on decision-making and judgment, “being in a particular kind of situation”, etc. The result of this research will be useful and relevant in the identification of the rationale for the management of directors’ conflicts of interest, contributing to the understanding of conflicts of interest in the private sector and the significance of public interest in corporate governance of large corporations.

Keywords: conflicts of interest, corporate governance, corporate law, directors duty of loyalty, public interest

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Authors: Rifky Cahya Putra

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At this time of corona makes some countries affected difficult. As a result, many traders or companies are difficult to work in this pandemic era. So human activities in some fields must implement a new lifestyle or known as new normal. The transition from the one activity to another certainly requires high adaptation. So that almost in all sectors experience the impact of this phase, on of which is the wedding organizer. This research aims to find out what strategies are used so that the company can run in this pandemic. Techniques in data collection in the form interview to the owner of the wedding organizer and his team. Data analysis qualitative descriptive use interactive model analysis consisting of three main things, namely data reduction, data presentaion, and conclusion. For the result of the interview, the conclusion is that there are three strategies consisting of social media, sponsorship, and promotion.

Keywords: strategy, wedding organizer, pandemic, indonesia

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Authors: Petra F. A. Dilling, Sinan Caykoylu

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The aim of this study was to shed light on the understanding of the factors determining a company’s disclosure on climate change reporting. The underlying study examines the effect of gender diversity and the mediating effect of female representation in management and on the board of directors and the existence of a dedicated sustainability board committee. To test the study’s objectives, the authors use a global sample of the largest companies and their reporting for the year 2020. The results suggest that corporate female participation has a significant influence on the quality of climate change reporting. In addition, having a dedicated sustainability board committee also significantly impacts the non-financial disclosure of climate change information.

Keywords: climate change, non-financial reporting, governance, board diversity, sustainability, CSR

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Authors: Marcelo Dias Carvalho, Leticia Ishikawa

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Supply Chain Risk Management refers to a set of strategies used by companies to avoid supply chain disruption caused by damage at production facilities, natural disasters, capacity issues, inventory problems, incorrect forecasts, and delays. Many companies use the techniques of the Toyota Production System, which in a way goes against a better management of supply chain risks. This paper studies key events in some multinationals to analyze the trade-off between the best supply chain risk management techniques and management policies designed to create lean enterprises. The result of a good balance of these actions is the reduction of losses, increased customer trust in the company and better preparedness to face the general risks of a supply chain.

Keywords: just in time, lean manufacturing, supply chain disruptions, supply chain management

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Authors: Ahmed Fradi

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In a digital world in perpetual evolution and acceleration, data more and more voluminous, rich and varied, the new software solutions emerged with the Big Data phenomenon offer new opportunities to the company enabling it not only to optimize its business and to evolve its production model, but also to reorganize itself to increase competitiveness and to identify new strategic axes. Design and manufacturing industrial companies, like the others, face these challenges, data represent a major asset, provided that they know how to capture, refine, combine and analyze them. The objective of our paper is to propose a solution allowing geometric and topological information extraction from 3D CAD model (precisely STEP files) databases, with specific algorithm based on the programming paradigm MapReduce. Our proposal is the first step of our future approach to 3D CAD object retrieval.

Keywords: Big Data, MapReduce, 3D object retrieval, CAD, STEP format

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Authors: Mehtap Dursun, Zeynep Şener

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Supplier selection is considered as one of the most critical issues encountered by operations and purchasing managers to sharpen the company’s competitive advantage. In this paper, a novel fuzzy multi-criteria group decision making approach integrating quality function deployment (QFD) and decision making trial and evaluation laboratory (DEMATEL) method is proposed for supplier selection. The proposed methodology enables to consider the impacts of inner dependence among supplier assessment criteria. A house of quality (HOQ) which translates purchased product features into supplier assessment criteria is built using the weights obtained by DEMATEL approach to determine the desired levels of supplier assessment criteria. Supplier alternatives are ranked by a distance-based method.

Keywords: DEMATEL, group decision making, QFD, supplier selection

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Authors: Khwaja Naweed Seddiqi

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Hydrocarbon resources are important for the redevelopment and sustainable progress of Afghanistan’s infrastructure. This paper aim is to increase the oil recovery of Hitervian reservoir of Angut oil field in north part of Afghanistan by an easy and available method, which is Buckley-Leveret frontal displacement theory. In this paper oil displacement by water that takes placed by injecting water into the under laying petroleum reservoir which called waterflooding technique is investigated. The theory is investigated in a laboratory experiment first then applied in Angut oil field which is now under the operation of a private petroleum company. Based on this study oil recovery of Angut oil field, residual oil saturation, Buckle-Leveret saturation and FBL is determined.

Keywords: waterflooding technique, two phase fluid flow, Buckley-Leveret, petroleum engineering

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Authors: Lingfei Sun

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Based on the significant value of ecology, the strategic planning for ecological civilization construction was mentioned in the 17th and 18th National Congress of the Communist Party of China. How to generate economic value based on the environmental capacity is not only an economic decision but also a political decision to make. Boshan took the full use of “Ecology” and transformed it as an inexhaustible green resource to benefit people, reflecting the sustainable value of new agriculture development mode. The Strawberry Harvest Festival and Blueberry Harvest Festival hosted approximately 96,000 and 54,000 leisure tourists respectively in 2014. For the Kiwi Harvest Festival in August 2014, in average, it attracted about 4600 tourists per day, which generated daily kiwi sales of 50,000 lbs and 3 million RMB (About 476,000 USD) of daily revenue. The purpose of this study is to elaborate the modes of agritourism development, by analyzing the cases in rural area of Boshan, China. Interviews with the local government officers were applied to discover operation mode of agritourism operation. The financial data was used to demonstrate the strength of government policy and improvement of the income of rural people. The result indicated that there are mainly three types of modes: the Intensive Mode, the Model Mode and the Mixed Mode, supported by case study respectively. With the boom of tourism, the development of agritourism in Boshan relies on the agriculture encouraging policy of China and the effort of local government; meanwhile, large scale of cultivation and the product differentiation are the crucial elements for the success of rural agritourism projects.

Keywords: agriculture, agritourism, economy, rural area development

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Authors: N. Sefiani, C. Fikri Benbrahim, A. Boumane, K. Reklaoui

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Nowadays, the reflection on competence management is the basic for new competitive strategies. It is considered as the core of the problems of the global supply chain. It interacts a variety of actors: information, physical and activities flows, etc. Even though competence management is seen as the key factor for any business success, the existing approaches demonstrate the deficiencies and limitations of the competence concept. This research has two objectives: The first is to make a contribution by focusing on the development of a competence approach, based on continuous improvement. It allows the enterprise to spot key competencies, mobilize them in order to serve its strategic objectives and to develop future competencies. The second is to propose a method to evaluate the level of Collective Competence. The approach was confirmed through an application carried out at an automotive company.

Keywords: competence, competencies’ approach, competence management, continuous improvement, collective competence level, performance indicator

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Authors: Sayan Munshi, Subrajit Banerjee, Indrani Chakraborty

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Tourism is a prime sector in the economic development of many countries in particular the Indian sub-continent. Tourism is considered an integral pillar in the Make in India Program under the Government of India. The statistics of tourism in India had evolved from a past with the formation of History. The sector had shown dynamic changes in the statistics since 1980. With the evolving tourism along with destinations, this sector has been converted into the prime industry, as it not only impacts the destination but on the other hand supports the periphery of the destination. Tourism boost revenue and creates varied economic possibilities for the residents. Due to the influx of tourism in the cities, a load on the infrastructure and services can be observed, specifically in the Physical Infrastructure sectors. Due to the floating population in the designated tourism core of the Urban / Peri-Urban area, issues pertaining to Solid waste management and Transportation are highly observed. Thus, a need for capacity building arises for the infrastructure impacted by tourism, which may result in the upgradation of the lifestyle of the city and its permanent users. As tourism of a region has a dependency on the infrastructure, the paper here focuses on the relationship between tourism potential of a region and the infrastructural determinants of the city or region and hence to derive a structural equation supporting the relationship, further determine a coefficient and suggest the domain of in need of upgradation or retrofitting possibilities. The outcome of the paper is to suggest possible recommendations towards the formation of policies on an urban level to support the tourism potential of the region.

Keywords: urban planning, tourism planning, infrastructure, transportation, solid waste management

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Authors: Ahmed Mateen, Zhu Qingsheng, Ahmad Bilal

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In the current age of technology, information is the most precious asset of a company. Today, companies have a large amount of data. As the data become larger, access to data for some particular information is becoming slower day by day. Faster data processing to shape it in the form of information is the biggest issue. The major problems in distributed databases are the efficiency of data distribution and response time of data distribution. The security of data distribution is also a big issue. For these problems, we proposed a strategy that can maximize the efficiency of data distribution and also increase its response time. This technique gives better results for secure data distribution from multiple heterogeneous sources. The newly proposed technique facilitates the companies for secure data sharing efficiently and quickly.

Keywords: ER-schema, electronic record, P2P framework, API, query formulation

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Authors: Pankhudi Khandelwal

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The revenue models of digital giants such as Facebook and Google, use targeted advertising for revenues. Such a model requires huge amounts of consumer data. While the data protection law deals with the protection of personal data, however, this data is acquired by the companies on the basis of consent, performance of a contract, or legitimate interests. This paper analyses the role that competition law can play in evading these loopholes for the protection of data and privacy of online consumers. Digital markets have certain distinctive features such as network effects and feedback loop, which gives incumbents of these markets a first-mover advantage. This creates a situation where the winner takes it all, thus creating entry barriers and concentration in the market. It has been also seen that this dominant position is then used by the undertakings for leveraging in other markets. This can be harmful to the consumers in form of less privacy, less choice, and stifling innovation, as seen in the cases of Facebook Cambridge Analytica, Google Shopping, and Google Android. Therefore, the article aims to provide a legal framework wherein the data protection law and competition law can come together to provide a balance in regulating digital markets. The issue has become more relevant in light of the Facebook decision by German competition authority, where it was held that Facebook had abused its dominant position by not complying with data protection rules, which constituted an exploitative practice. The paper looks into the jurisdictional boundaries that the data protection and competition authorities can work from and suggests ex ante regulation through data protection law and ex post regulation through competition law. It further suggests a change in the consumer welfare standard where harm to privacy should be considered as an indicator of low quality.

Keywords: data protection, dominance, ex ante regulation, ex post regulation

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Authors: Hanee Ryu

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The supporting policies for renewable energy have been designed to deploy renewable energy technology targeting domestic market. The government encourages market creation through obligations such as FIT or RPS on an energy supplier. With these policy measures, the securing vast market needs to induce technology development. Furthermore, it is crucial that ensuring developing market can make the environment nurture the renewable energy industry. Overseas expansion to countries being in demand is essential under immature domestic market. Extending its business abroad can make the domestic company get the knowledge through learning-by-doing. Besides, operation in the countries to be rich in renewable resources such as weather conditions helps to develop proven track record required for verifying technologies. This paper figures out the factor to hamper the global market entry and build up the strategies to overcome difficulties. Survey conducted renewable energy company having overseas experiences at least once. Based on the survey we check the obstacle against exporting home goods and services. As a result, securing funds is salient fact to proceed to business. It is difficult that only private bank or investment agencies participate in the project under uncertainty which renewable energy development project bears inherently. These uncertainties need public fund such as ODA to encourage private sectors to start a business. Furthermore, international organizations such as IRENA or multilateral development banks as WBG play a role to guarantee the investment including risk insurance against uncertainty. It can also manage excavation business cooperating with developing countries and supplement inadequate government funding involved. With survey results strategies to obtain the order, the international organization places are categorized according to the type of getting a contract. This paper suggests 3 types approaching to the international organization project (going through international competitive bidding, using ODA and project financing) and specifies the role of government to support the domestic firms with running out of funds. Under renewable energy industry environment where hard to being created as a spontaneous market, government policy approach needs to motivate the actors to get into the business. It is one of the good strategies that countries with the low demand of renewable energies participate in the project international agencies order in the developing countries having abundant resources. This provides crucial guidance for the formulation of renewable energy development policy and planning with consideration of business opportunities and funding.

Keywords: exporting strategies, multilateral development banks, promoting in developing countries, renewable energy technologies

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Authors: Hussain Bohra, Pradyuman Sharma

Abstract:

This study highlights the significance of Balance Sheet Indicators on the corporate performance in the case of Indian manufacturing companies. Balance sheet indicators show the actual financial health of the company and it helps to the external investors to choose the right company for their investment and it also help to external financing agency to give easy finance to the manufacturing companies. The period of study is 2000 to 2014 for 813 manufacturing companies for which the continuous data is available throughout the study period. The data is collected from PROWESS data base maintained by Centre for Monitoring Indian Economy Pvt. Ltd. Panel data methods like fixed effect and random effect methods are used for the analysis. The Likelihood Ratio test, Lagrange Multiplier test and Hausman test results proof the suitability of the fixed effect model for the estimation. Return on assets (ROA) is used as the proxy to measure corporate performance. ROA is the best proxy to measure corporate performance as it already used by the most of the authors who worked on the corporate performance. ROA shows return on long term investment projects of firms. Different ratios like Current Ratio, Debt-equity ratio, Receivable turnover ratio, solvency ratio have been used as the proxies for the Balance Sheet Indicators. Other firm specific variable like firm size, and sales as the control variables in the model. From the empirical analysis, it was found that all selected financial ratios have significant and positive impact on the corporate performance. Firm sales and firm size also found significant and positive impact on the corporate performance. To check the robustness of results, the sample was divided on the basis of different ratio like firm having high debt equity ratio and low debt equity ratio, firms having high current ratio and low current ratio, firms having high receivable turnover and low receivable ratio and solvency ratio in the form of firms having high solving ratio and low solvency ratio. We find that the results are robust to all types of companies having different form of selected balance sheet indicators ratio. The results for other variables are also in the same line as for the whole sample. These findings confirm that Balance sheet indicators play as significant role on the corporate performance in India. The findings of this study have the implications for the corporate managers to focus different ratio to maintain the minimum expected level of performance. Apart from that, they should also maintain adequate sales and total assets to improve corporate performance.

Keywords: balance sheet, corporate performance, current ratio, panel data method

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Authors: Hamed Zolfaghari, Mojtaba Kord

Abstract:

After feasibility study the design phase is started and the rest of other phases are highly dependent on this phase. forecasting the duration of design phase could do a miracle and would save a lot of time. This study provides a fast and accurate Machine learning (ML) and optimization framework, which allows a quick duration estimation of project design phase, hence improving operational efficiency and competitiveness of a design construction company. 3 data sets of three years composed of daily time spent for different design projects are used to train and validate the ML models to perform multiple projects. Our study concluded that Artificial Neural Network (ANN) performed an accuracy of 0.94.

Keywords: time estimation, machine learning, Artificial neural network, project design phase

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Authors: Nebojša Janićijević

Abstract:

At the end of 1970s, Dutch researcher Geert Hofstede, had conducted an enormous empirical research on the differences between national cultures. In his huge research, he had identified four dimensions of national culture according to which national cultures differ and determined the index for every dimension of national culture for each country that took part in his research. The index showed a country’s position on the continuum between the two extreme poles of the cultural dimensions. Since more than 40 years have passed since Hofstede's research, there is a doubt that, due to the changes in national cultures during that period, they are no longer a good basis for research. The aim of this research is to check the validity of Hofstee's indices of national culture The empirical study conducted in the branches of a multinational company in Serbia, France, the Netherlands and Denmark aimed to determine whether Hofstede’s measures of national culture dimensions are still valid. The sample consisted of 155 employees of one multinational company, where 40 employees came from three countries and 35 employees were from Serbia. The questionnaire that analyzed the positions of national cultures according to the Hofstede’s four dimensions was formulated on the basis of the initial Hofstede’s questionnaire, but it was much shorter and significantly simplified comparing to the original questionnaire. Such instrument had already been used in earlier researches. A statistical analysis of the obtained questionnaire results was done by a simple calculation of the frequency of the provided answers. Due to the limitations in methodology, sample size, instrument, and applied statistical methods, the aim of the study was not to explicitly test the accuracy Hofstede’s indexes but to enlighten the general position of the four observed countries in national culture dimensions and their mutual relations. The study results have indicated that the position of the four observed national cultures (Serbia, France, the Netherlands and Denmark) is precisely the same in three out of four dimensions as Hofstede had described in his research. Furthermore, the differences between national cultures and the relative relations between their positions in three dimensions of national culture correspond to Hofstede’s results. The only deviation from Hofstede’s results is concentrated around the masculinity–femininity dimension. In addition, the study revealed that the degree of power distance is a determinant when choosing leadership style. It has been found that national cultures with high power distance, like Serbia and France, favor one of the two authoritative leadership styles. On the other hand, countries with low power distance, such as the Netherlands and Denmark, prefer one of the forms of democratic leadership styles. This confirms Hofstede’s premises about the impact of power distance on leadership style. The key contribution of the study is that Hofstede’s national culture indexes are still a reliable tool for measuring the positions of countries in national culture dimensions, and they can be applied in the cross-cultural research in management. That was at least the case with four observed countries: Serbia, France, the Netherlands, and Denmark.

Keywords: national culture, leadership styles, power distance, collectivism, masculinity, uncertainty avoidance

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Authors: Enes Huylu, Sude Erkin, Nur A. Özdemir, Hatice K. Güney, Cemre S. Atılgan, Hüseyin Y. Altıntaş, Aysemin Top, Muammer Yılman, Özak Durmuş

Abstract:

Remanufacturing (reman) applications allow manufacturers to contribute to the circular economy and help to introduce products with almost the same quality, environment-friendly, and lower cost. The objective of this study is to present that the carbon footprint of automotive spare parts used in vehicles could be reduced by reman applications based on Life Cycle Analysis which was framed with ISO 14040 principles. In that case, it was aimed to investigate reman applications for 21 parts in total. So far, research and calculations have been completed for the alternator, turbocharger, starter motor, compressor, manual transmission, auto transmission, and DPF (diesel particulate filter) parts, respectively. Since the aim of Ford Motor Company and Ford OTOSAN is to achieve net zero based on Science-Based Targets (SBT) and the Green Deal that the European Union sets out to make it climate neutral by 2050, the effects of reman applications are researched. In this case, firstly, remanufacturing articles available in the literature were searched based on the yearly high volume of spare parts sold. Paper review results related to their material composition and emissions released during incoming production and remanufacturing phases, the base part has been selected to take it as a reference. Then, the data of the selected base part from the research are used to make an approximate estimation of the carbon footprint reduction of the relevant part used in Ford OTOSAN. The estimation model is based on the weight, and material composition of the referenced paper reman activity. As a result of this study, it was seen that remanufacturing applications are feasible to apply technically and environmentally since it has significant effects on reducing the emissions released during the production phase of the vehicle components. For this reason, the research and calculations of the total number of targeted products in yearly volume have been completed to a large extent. Thus, based on the targeted parts whose research has been completed, in line with the net zero targets of Ford Motor Company and Ford OTOSAN by 2050, if remanufacturing applications are preferred instead of recent production methods, it is possible to reduce a significant amount of the associated greenhouse gas (GHG) emissions of spare parts used in vehicles. Besides, it is observed that remanufacturing helps to reduce the waste stream and causes less pollution than making products from raw materials by reusing the automotive components.

Keywords: greenhouse gas emissions, net zero targets, remanufacturing, spare parts, sustainability

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