Search results for: european labor market

Authors: Godfrey Omulo, Regina Birner, Karlheinz Koller, Thomas Daum

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Conservation agriculture (CA) as a climate-resilient and sustainable practice have been carried out for over three decades in Zambia. However, its continued promotion and adoption has been predominantly on a small-scale basis. Despite the plethora of scholarship pointing to the positive benefits of CA in regard to enhanced yield, profitability, carbon sequestration and minimal environmental degradation, these have not stimulated commensurate agricultural extensification desired for Zambia. The objective of this study was to investigate the potential differences between mechanized conventional and conservation tillage practices on operation time, fuel consumption, labor costs, soil moisture retention, soil temperature and crop yield. An on-farm mechanized conservation agriculture (MCA) experiment arranged in a randomized complete block design with four replications was used. The research was conducted on a 15 ha of sandy loam rainfed land: soybeans on 7ha with plot dimensions of 24 m by 210 m and maize on 8ha with plot dimensions of 24 m by 250 m. The three tillage treatments were: residue burning followed by disc harrowing, ripping tillage and no-till. The crops were rotated in two subsequent seasons. All operations were done using a 60hp 2-wheel tractor, a disc harrow, a two-tine ripper and a two-row planter. Soil measurements and the agro-economic factors were recorded for two farming seasons. The season results showed that the yield of maize and soybeans under no-till and ripping tillage practices were not significantly different from the conventional burning and discing. But, there was a significant difference in soil moisture content between no-till (25.31SFU±2.77) and disced (11.91SFU±0.59) plots at depths from 10-60 cm. Soil temperature in no-till plots (24.59°C±0.91) was significantly lower compared to the disced plots (26.20°C±1.75) at the depths 15 cm and 45 cm. For maize, there was a significant difference in operation time between disc-harrowed (3.68hr/ha±1.27) and no-till (1.85hr/ha±0.04) plots, and a significant difference in cost of labor between disc-harrowed (45.45$/ha±19.56) and no-till (21.76$/ha) plots. There was no significant difference in fuel consumption between ripping and disc-harrowing and direct seeding. For soybeans, there was a significant difference in operation time between no-tillage (1.96hr/ha±0.31) and ripping (3.34hr/ha±0.53) and disc harrowing (3.30hr/ha±0.16). Further, fuel consumption and labor on no-till plots were significantly different from both the ripped and disc-harrowed plots. The high seed emergence percentage on maize disc-harrowed plot (93.75%±5.87) was not significantly different from ripping and no-till plots. Again, the high seed emergence percentage for the soybean ripped plot (93.75%±13.03) had no significant difference with discing and ripping. The results show that it is economically sound and timesaving to practice MCA and get viable yields compared to conventional farming. This research fills the gap on the potential of MCA in the context of Zambia and its profitability in incentivizing policymakers to invest in appropriate and sustainable machinery and implements for extensive agricultural production.

Keywords: climate-smart agriculture, labor cost, mechanized conservation agriculture, soil moisture, Zambia

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Authors: Jamil Lane, Jason Freeman

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Background: The role of interpersonal relationships is vital predictors of adolescents’ eating habits, exercise activity, and health problems including obesity. The effect of interpersonal relationships (i.e. family, friends, and intimate partners) on individual health behaviors and development have gained considerable attention during the past 10 years. Teenagers eating habits and exercise activities are established through a dynamic course involving internal and external factors such as food preferences, body weight perception, and parental and peer influence. When conceptualizing one’s interpersonal relationships, it is important to understand that how one relates to others is shaped by their culture. East-Asian culture has been characterized as collectivistic, which describes the significant role intergroup relationships play in their construction of the self. Cultures found in North America, on the other hand, can be characterized as individualistic, meaning that these cultures encourage individuals to prioritize their interest over the needs and want of their compatriots. Individuals from collectivistic cultures typically have stronger boundaries between in-group and out-group membership, whereas those from individualistic cultures see themselves as distinct and separate from strangers as well as family or friends. Objective: The purpose of this study is to examine the effect of collectivism and individualism on interpersonal relationships that shapes eating patterns and physical activity among Asian-American and European-American adolescents. Design/Methods: Analyses were based on data from the National Longitudinal Study of Adolescent Health, a nationally representative sample of adolescents in the United States who were surveyed from 1994 through 2008. This data will be used to examine interpersonal relationship factors that shape dietary intake and physical activity patterns within the Asian-American and European-American population in the United States. Factors relating to relationship strength, eating, and exercise behaviors were reported by participants in this first wave of data collection (1995). We plan to analyze our data using intragroup comparisons among those who identified as 'Asian-American' (n = 270) and 'White or European American' (n = 4,294) among the domains of positivity of peer influence and level of physical activity / healthy eating. Further, intergroup comparisons of these relationships will be made to extricate how the role positive peer influence in maintaining healthy eating and exercise habits differs with cultural variation. Results: We hypothesize that East-Asian participants with a higher degree of positivity in their peer and family relationships will experience a significantly greater rise in healthy eating and exercise behaviors than European-American participants with similar degrees of relationship positivity.

Keywords: interpersonal relationships, eating patterns, physical activity, adolescent health

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Authors: S. Di Benedetto, M. P. Di Donato, A. Rispoli, S. Cardone, J. Riehmer, J. Steelant, L. Vecchione

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Thanks to a coordinated funding by the European Space Agency (ESA) and the European Commission (EC) within the 7th framework program, the High-Speed Experimental Fly Vehicles – International (HEXAFLY-INT) project is aimed at the flight validation of hypersonics technologies enabling future trans-atmospheric flights. The project, which is currently involving partners from Europe, Russian Federation and Australia operating under ESA/ESTEC coordination, will achieve the goal of designing, manufacturing, assembling and flight testing an unpowered high speed vehicle in a glider configuration by 2018. The main technical challenges of the project are specifically related to the design of the vehicle gliding configuration and to the complexity of integrating breakthrough technologies with standard aeronautical technologies, e.g. high temperature protection system and airframe cold structures. Also, the sonic boom impact, which is one of the environmental challenges of the high speed flight, will be assessed. This paper provides a comprehensive and detailed update on all the current projects activities carried out to date on both the vehicle and mission design.

Keywords: design, flight testing, HEXAFLY-INT, hypersonics

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Authors: Italo Luigi de Paoli

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The use of synthetic soil for the vegetables cultivation in conditions of limited water consumption The separate collection of urban organic waste and green waste for the countries of the European Union averages 100 kg / inhabitant x year with an annual growth of about 10%. The production of quality compost averages 38% - 40% of the production of organic waste material. Most of the compost produced is used as an organic soil improver in those nutrient-poor soils in order to improve its quality. This study seeks to enhance the production of quality compost by creating a synthetic soil, where the percentages of compost on average oscillate between 50% and 60% in which, with appropriate precautions, different species of horticultural can be grown in conditions of high environmental safety without the use of pesticides and with a consumption of water used for irrigation limited to the actual evaporation of the plants. The project started in 2018 and is still ongoing, confirms its validity through a series of different horticultural productions, especially if this technology is applied where the availability of land suitable for the cultivation of vegetables is limited and where the use of water for irrigation represents a cultural criticality. Furthermore, the creation of "open field" crops, together with their automation, represents a further possibility in the concrete development of such technologies, giving the final product organoleptic characteristics equal if not superior to what the market offers today for human nutrition.

Keywords: water scarcity, compost, vegetable foods, syntetic soil

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Authors: Hochan Seok, Woosik Jang, Seung-Heon Han

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The stagnant global construction market has intensified competition since 2008 among firms that aim to win overseas contracts. Against this backdrop, subcontractor selection is identified as one of the most critical success factors in overseas construction project. However, it is difficult to select qualified subcontractors due to the lack of evaluation standards and reliability. This study aims to identify the problems associated with existing subcontractor evaluations using a correlations analysis and a multiple regression analysis with pre-qualification and performance evaluation of 121 firms in six countries.

Keywords: subcontractor evaluation system, pre-qualification, performance evaluation, correlation analysis, multiple regression analysis

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Authors: Chinnawat Satsananan

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The amount of heavy metals in our environment has been of great concern because of their toxicity when their concentration is more than the permissible level. These metals enter the environment by different ways such as industrial activities, soil pollution. We have used flame atomic absorption spectrometry technique for determination of the concentration of Co, Cd and Pb in different tissues of five samples of seafoods (mackerel, squid, mussels, scallops and shrimp). The concentrations of Co, Cd and Pb in all examined seafoods were less than the reported literature values (WHO). The results mentioned that the seafoods obtained from Thewet Market were safety to consumption and make the quality of life of people in the community look better.

Keywords: heavy metals, seafood, atomic absorption spectrometry, Bangkok

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Authors: Hilda Kundai Chikwanda, Lawrence Thabo Mokhadi

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The study aimed to review the factors that lead the freight railway suppliers base in South Africa (SA) to apply the Lean and Six Sigma (L&SS) methodologies. A thorough review of the factors that lead organisations, in the different industries, to implement these methodologies was done. L&SS applications were found to be prominent in the automotive industry. In particular, the railway industry in SA and the region were reviewed in terms of challenges in capturing the freight logistics market and growing market share. Qualitative methods have been used to collect primary data and descriptive statistics was used to calculate, describe, and summarize collected research data. The results show that external factors have a greater influence on the implementation of L&SS. The study drew inferences between freight railway supplier base and the application of Lean and Six Sigma (L&SS) methodologies in the SA context. It identified challenges that leads the SA freight railway to lose market share to road freight users. It further observes and recommends that L&SS methodologies are the ideal strategy required to implement a turnaround in the trajectory of freight railways as a competitive freight transport solution.

Keywords: production, methodology, manufacturing, lean, six sigma

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Authors: J. B. Frisch, D. Evandiloff, P. Martin, N. Ouizille, F. Pires

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Smart Beta strategies intend to be an asset management revolution with reference to classical cap-weighted indices. Indeed, these strategies allow a better control on portfolios risk factors and an optimized asset allocation by taking into account specific risks or wishes to generate alpha by outperforming indices called 'Beta'. Among many strategies independently used, this paper focuses on four of them: Minimum Variance Portfolio, Equal Risk Contribution Portfolio, Maximum Diversification Portfolio, and Equal-Weighted Portfolio. Their efficiency has been proven under constraints like momentum or market phenomenon, suggesting a reconsideration of cap-weighting.
 To further increase strategy return efficiency, it is proposed here to compare their strengths and weaknesses inside time intervals corresponding to specific identifiable market phases, in order to define adapted strategies depending on pre-specified situations. 
Results are presented as performance curves from different combinations compared to a benchmark. If a combination outperforms the applicable benchmark in well-defined actual market conditions, it will be preferred. It is mainly shown that such investment 'rules', based on both historical data and evolution of Smart Beta strategies, and implemented according to available specific market data, are providing very interesting optimal results with higher return performance and lower risk.
 Such combinations have not been fully exploited yet and justify present approach aimed at identifying relevant elements characterizing them.

Keywords: smart beta, minimum variance portfolio, equal risk contribution portfolio, maximum diversification portfolio, equal weighted portfolio, combinations

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Authors: A. Hidalgo, A. Desportes, E. Bonin, A. Kadaoui, T. Bouaricha

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Present paper is concerned with portfolio management with Black-Litterman (B-L) model. Considered stocks are exclusively limited to large companies stocks on US market. Results obtained by application of the model are presented. From analysis of collected Dow Jones stock data, remarkable explicit analytical expression of optimal B-L parameter τ, which scales dispersion of normal distribution of assets mean return, is proposed in terms of standard deviation of covariance matrix. Implementation has been developed in Matlab environment to split optimization in Markovitz sense from specific elements related to B-L representation.

Keywords: Black-Litterman, Markowitz, market data, portfolio manager opinion

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Authors: Darren J. Ellis

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This paper investigates the key industry-level consequences and future prospects for the global airline industry of the requirement for airlines to have a home base. This industry context results in geographical location playing a central role in determining how and where international airlines can operate, and the extent to which their international networks can develop. Data from a five stage mixed-methods Delphi study into the global airline industry’s likely future trajectory conducted in 2013 and 2014 are utilized to better understand the likelihood and consequences of home base requirements changing in future. Expert views and forecasts were collected to gauge core industry trends over a ten year timeframe. Attempts to change or bypass this industry requirement have not been successful to date outside of the European single air market. Europe remains the only prominent exception to the general rule in this regard. Most of the industry is founded on air space sovereignty, the nationality rule, and the bilateral system of traffic rights. Europe’s exceptionalism has seen it evolve into a single air market with characteristics similar to a nation-state, rather than to become a force for wider industry change and regional multilateralism. Europe has indeed become a key actor in global aviation, but Europe seems to now be part of the industry’s status quo, not a vehicle for substantially wider multilateralism around the world. The findings from this research indicate that the bilateral system is not viewed by most study experts as disappearing or substantially weakening in the foreseeable future. However, regional multilateralism was also viewed as progressively taking hold in the industry in future, demonstrating that for most industry experts the two are not seen as mutually exclusive but rather as being able to co-exist with each other. This reality ensures that geographical location will continue to play an important role in the global airline industry in future and that, home base requirements will not disappear any time soon either. Even moves in some aviation jurisdictions to dilute nationality requirements for airlines, and instead replace ownership and control restrictions with principal place of business tests, do not ultimately free airlines from their home base. Likewise, an expansion of what constitutes home base to include a regional grouping of countries – again, a currently uncommon reality in global aviation – does not fundamentally weaken the continued relevance of geographical location to the global industry’s future growth and development realities and prospects.

Keywords: airline industry, air space sovereignty, geographical location, home base

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Authors: João Boaventura Branco De Matos

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Currently, in Brazil, there is a considerable collection of publications on the supplementary health sector, but the vast majority is limited to retrospective examination of the sector. The present contribution starts from the diagnosis of an overwhelming change in the role of the State and its institutions, as well as an accelerated and no less forceful change in the way of producing goods and services, resulting in a clash between these different waves (state and market). This shock produces unique energy, capable of imposing major changes in the most varied sectors. Based on this diagnosis, there was an opportunity to offer the perspective and propositional study of regulatory measures relevant to the best conduct and performance of this sector in the future.

Keywords: private health regulation, state and market, forecasts in Brazilian regulation, political economy

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Authors: Maria Campos, Alain Massart, Hugo Sarmento

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The Meter Matters Erasmus Sport European Project (ID: 101050372) explores the field of social inclusion in and through sports with the aim of a) proposing appropriate criteria for co-funding sports programs involving people with intellectual and developmental disabilities and other more vulnerable people, primarily in mainstream sports organizations and b) proposing a model for co-funding social inclusion in and through sports at the national level. This European project (2022-2024) involves 6 partners from 3 countries: Univerza V Ljubljani – coordinator and Drustvo Specialna Olimpiada Slovenije (Slovenia); Magyar Specialis Olimpia Szovetseg and Magyar Testnevelesi Es Sporttudomanyi Egyetem (Hungary) and APPDA Coimbra - Associação Portuguesa para as Perturbações do Desenvolvimento e Autismo and Universidade De Coimbra, Faculty of Sport Sciences and Physical Education (Portugal). Equal involvement of all people in sports activities is, in terms of national and international guidelines, enshrined in some conventions and strategies in the field of sports, as well as human rights, social security, physical and mental health, architecture, environment and public administration. However, there is a gap between the practice and EU guidelines in terms of sustainable support for socially inclusive sports programs in the form of co-funding by state and local (municipal) resources. We observe considerable opacity in the regulation of the field. Given that there are both relevant programs and inclusive legislation and policies, we believe that the reason for the missing article is reflected in the undeveloped criteria for measuring social inclusion in sports. Major sports programs are usually co-funded based on crowds (number of involved athletes) and performance (sports score). In the field of social inclusion in sports, the criteria cannot be the same, as it is a smaller population. Therefore, the goals of inclusion in sports should not be the focused on competitive results but on opening equal opportunities for all, regardless of their psychophysical abilities. In the Meter Matters program, we are searching for criteria for co-funding social inclusion in sports through focus groups with coaches, social workers, psychologists and others professionals involved in inclusive sports programs in regular sports clubs and with athletes and their parents or guardians. Moreover, experts in the field of social inclusion in sports were also interviewed. Based on the proposals for measuring social inclusion in sports, we developed a model for co-funding socially inclusive sports programs.

Keywords: European project, meter matters, inclusion, sport

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Authors: Therese Scali

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Over the years, the European Union has continued to extend its action on lesbian, gay men, bisexual and transgender (LGBT) rights to a range of areas including access to justice, asylum, freedom of expression and assembly, parenting, and mutual recognition of civil status within the EU. The European Parliament has been a driving force behind such action adopting a range of resolutions calling for continued progress in this field. In particular, Belgium has been one of the first countries to legalize same-sex parenting and to create a general framework for action against negative attitudes towards gay and lesbian parents. The present paper aims at highlighting public healthcare workers’ attitudes towards different types of same-sex headed families in Belgium, and the content of their interventions in schools. Results revealed that attitudes can go from supportive to unsupportive, and participants do not show the same degree of support towards the different types of same-sex parenting. This contribution highlights work’s implication for public policy by understanding the resources and challenges that health-care professionals face in their work.

Keywords: attitudes, gay and lesbian parents, health-care workers, homophobia, prevention

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Authors: Li-hsing Shih, Wei-Jen Hsu

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Recently, the sale of electrical vehicles (EVs) has increased dramatically due to maturing technology development and decreasing cost. Governments of many countries have made regulations and policies in favor of EVs due to their long-term commitment to net zero carbon emissions. However, due to uncertain factors such as the future price of EVs, forecasting the future market share of EVs is a challenging subject for both the auto industry and local government. This study tries to forecast the market share of EVs using conjoint models and Monte Carlo simulation. The research is conducted in three phases. (1) A conjoint model is established to represent the customer preference structure on purchasing vehicles while five product attributes of both EV and internal combustion engine vehicles (ICEV) are selected. A questionnaire survey is conducted to collect responses from Taiwanese consumers and estimate the part-worth utility functions of all respondents. The resulting part-worth utility functions can be used to estimate the market share, assuming each respondent will purchase the product with the highest total utility. For example, attribute values of an ICEV and a competing EV are given respectively, two total utilities of the two vehicles of a respondent are calculated and then knowing his/her choice. Once the choices of all respondents are known, an estimate of market share can be obtained. (2) Among the attributes, future price is the key attribute that dominates consumers’ choice. This study adopts the assumption of a learning curve to predict the future price of EVs. Based on the learning curve method and past price data of EVs, a regression model is established and the probability distribution function of the price of EVs in 2030 is obtained. (3) Since the future price is a random variable from the results of phase 2, a Monte Carlo simulation is then conducted to simulate the choices of all respondents by using their part-worth utility functions. For instance, using one thousand generated future prices of an EV together with other forecasted attribute values of the EV and an ICEV, one thousand market shares can be obtained with a Monte Carlo simulation. The resulting probability distribution of the market share of EVs provides more information than a fixed number forecast, reflecting the uncertain nature of the future development of EVs. The research results can help the auto industry and local government make more appropriate decisions and future action plans.

Keywords: conjoint model, electrical vehicle, learning curve, Monte Carlo simulation

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Authors: Tharsinithevy Kirupananthan

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This study analyzed the decision on growing three different crops which suit dry zone of Sri Lanka using the opportunity cost concept in economics. The variable cost of production of sugar cane, sweet orange, and soybean was 112,418.76, 13,463 and 10,928.08 Sri Lankan Rs. (LKR) per acre in the dry zone of Sri Lanka. The yield of the sugar cane, sweet orange, and soybean were 49.33 tons, 25,595 fruits, and 1032 kg per acre. The market price of the sugar cane, sweet orange, and soybean were 4200 LKR/ton, LKR 14.66 per fruit and LKR 89.69 per kg. The market value or the total income of the sugar cane, sweet orange, and soybean were LKR 207194.4, 283090.74, and 92560.08. The accounting profit of the sugar cane, sweet orange, and soybean was 94,775.64, 269,627.74, and 81,632 LKR per acre. Therefore, the opportunity cost of sugarcane per acre in terms of accounting profit was LKR. 269,627.74 from sweet orange and LKR 81,632 from soybean. The highest opportunity cost per acre in terms of accounting profit was found when soybean is produced instead of sweet orange. The opportunity cost which compared among the crops in terms of market value for sugar cane per acre was LKR 283090.74 of sweet orange and LKR 92560.08 of soybean. The highest opportunity cost both in terms of accounting profit and market value was found when growing soybean instead of sweet orange by using the resource per acre of land. The economic profit of sugar cane production in place of sweet orange was LKR -188315.1 per acre. The highest economic profit LKR 177067.66 was found when sweet orange is produced in place of soybean. A positive value of economic profit was found in all combination of sweet orange production without considering the first harvest duration of the crop.

Keywords: agricultural economics, crop, opportunity cost, Sri Lanka

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Authors: Amirhossen Zare Rahvard

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Freemium games based on the gacha mechanic have proven highly successful in recent years - games with simple graphics and simple gameplay systems but with a highly profitable market. Attempts at developing gacha games have even been made in Iran. Since gacha games are both profitable and easy to develop, they seem to be a suitable starting point for establishing a video game market in underdeveloped countries. This article aims to review the gacha games' approach to gaining revenue by studying the case of Arknights game in order to draw an outline of how simple games have led to great markets.

Keywords: gacha games, game’s economy, underdeveloped countries and games, arkngihts

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Authors: Eva Tsouparopoulou, Maria Symeonaki

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The internationally documented declining survey response rates of the last two decades are mainly attributed to refusals. In fieldwork, a refusal may be obtained not only from the respondent himself/herself, but from other sources on the respondent’s behalf, such as other household members, apartment building residents or administrator(s), and neighborhood residents. In this paper, we investigate how the composition of the demographic profile of survey refusals changes when different classifications are implemented and the classification issues arising from that. The analysis is based on the 2002-2018 European Social Survey (ESS) datasets for Belgium, Germany, and United Kingdom. For these three countries, the size of selected sample units coded as a type of refusal for all nine under investigation rounds was large enough to meet the purposes of the analysis. The results indicate the existence of four different possible classifications that can be implemented and the significance of choosing the one that strengthens the contrasts of the different types of respondents' demographic profiles. Since the foundation of social quantitative research lies in the triptych of definition, classification, and measurement, this study aims to identify the multiplicity of the definition of survey refusals as a methodological tool for the continually growing research on non-response.

Keywords: non-response, refusals, European social survey, classification

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Authors: Mohamad Mahdi Namdari

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In today's rapidly changing and evolving business competition, companies and organizations require advanced and efficient tools to manage their markets and sales networks. Big data analysis, quick response in competitive markets, process and operations optimization, and forecasting customer behavior are among the concerns of executive managers. Artificial intelligence, as one of the emerging technologies, has provided extensive capabilities in this regard. The use of artificial intelligence in market and sales network management can lead to improved efficiency, increased decision-making accuracy, and enhanced customer satisfaction. Specifically, AI algorithms can analyze vast amounts of data, identify complex patterns, and offer strategic suggestions to improve sales performance. However, many companies are still distant from effectively leveraging this technology, and those that do face challenges in fully exploiting AI's potential in market and sales network management. It appears that the general public's and even the managerial and academic communities' lack of knowledge of this technology has caused the managerial structure to lag behind the progress and development of artificial intelligence. Additionally, high costs, fear of change and employee resistance, lack of quality data production processes, the need for updating structures and processes, implementation issues, the need for specialized skills and technical equipment, and ethical and privacy concerns are among the factors preventing widespread use of this technology in organizations. Clarifying and explaining this technology, especially to the academic, managerial, and elite communities, can pave the way for a transformative beginning. The aim of this research is to elucidate the capacities of artificial intelligence in market and sales network management, identify its opportunities and benefits, and examine the existing challenges and obstacles. This research aims to leverage AI capabilities to provide a framework for enhancing market and sales network performance for managers. The results of this research can help managers and decision-makers adopt more effective strategies for business growth and development by better understanding the capabilities and limitations of artificial intelligence.

Keywords: artificial intelligence, market management, sales network, big data analysis, decision-making, digital marketing

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Authors: Pedro A. Medina-Rios, Marly Yolie Quintana-Daza

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Having the opportunity to communicate in a social, academic and work context is very relevant for any individual and more for a deaf person when oral language is not their natural language, and written language is their second language. Currently, in Colombia, there is not a specialized dictionary for our best knowledge in sign language archiving. Archival is one of the areas that the deaf community has a greater chance of performing. Nourishing new signs in dictionaries for deaf people extends the possibility that they have the appropriate signs to communicate and improve their performance. The aim of this work was to illustrate the importance of designing pedagogical and technological strategies of knowledge management, for the academic inclusion of deaf people through proposals of lexicon in Colombian sign language (LSC) in the area of archival. As a method, the analytical study was used to identify relevant words in the technical area of the archival and its counterpart with the LSC, 30 deaf people, apprentices - students of the Servicio Nacional de Aprendizaje (SENA) in Documentary or Archival Management programs, were evaluated through direct interviews in LSC. For the analysis tools were maintained to evaluate correlation patterns and linguistic methods of visual, gestural analysis and corpus; besides, methods of linear regression were used. Among the results, significant data were found among the variables socioeconomic stratum, academic level, labor location. The need to generate new signals on the subject of the file to improve communication between the deaf person, listener and the sign language interpreter. It is concluded that the generation of new signs to nourish the LSC dictionary in archival subjects is necessary to improve the labor inclusion of deaf people in Colombia.

Keywords: archival, inclusion, deaf, thesaurus

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Authors: Josip Visković, Josip Arnerić, Ante Rozga

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Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most successful and popular models in modelling time varying volatility are GARCH type models. When financial returns exhibit sudden jumps that are due to structural breaks, standard GARCH models show high volatility persistence, i.e. integrated behaviour of the conditional variance. In such situations models in which the parameters are allowed to change over time are more appropriate. This paper compares different GARCH models in terms of their ability to describe structural changes in returns caused by financial crisis at stock markets of six selected central and east European countries. The empirical analysis demonstrates that Markov regime switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility when sudden switching occurs in response to financial crisis.

Keywords: central and east European countries, financial crisis, Markov switching GARCH model, transition probabilities

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Authors: Mussa Hussaini, Supasith Chonglerttham

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Stocks are usually classified according to their characteristics which are unique enough such that the performance of each category can be differentiated from another. The reasons behind such classifications in the financial market are sometimes financial innovation or it can also be because of finding a premium in a group of stocks with similar features. One of the major classifications in stocks market is called momentum strategy. Based on this strategy stocks are classified according to their past performances into past winners and past losers. Momentum in a stock market refers to the idea that stocks will keep moving in the same direction. In other word, stocks with rising prices (past winners stocks) will continue to rise and those stocks with falling prices (past losers stocks) will continue to fall. The performance of this classification has been well documented in numerous studies in different countries. These studies suggest that past winners tend to outperform past losers in the future. However, academic research in this direction has been limited in countries such as Thailand and to the best of our knowledge, there has been no such study in Thailand after the financial crisis of 1997. The significance of this study stems from the fact that Thailand is an open market and has been encouraging foreign investments as one of the means to enhance employment, promote economic development, and technology transfer and the main equity market in Thailand, the Stock Exchange of Thailand is a crucial channel for Foreign Investment inflow into the country. The equity market size in Thailand increased from $1.72 billion in 1984 to $133.66 billion in 1993, an increase of over 77 times within a decade. The main contribution of this paper is evidence for size category in the context of the equity market in Thailand. Almost all previous studies have focused solely on large stocks or indices. This paper extends the scope beyond large stocks and indices by including small and tiny stocks as well. Further, since there is a distinct absence of detailed academic research on momentum strategy in the Stock Exchange of Thailand after the crisis, this paper also contributes to the extension of existing literature of the study. This research is also of significance for those researchers who would like to compare the performance of this strategy in different countries and markets. In the Stock Exchange of Thailand, we examined the performance of momentum strategy from 2010 to 2014. Returns on portfolios are calculated on monthly basis. Our results on momentum strategy confirm that there is positive momentum profit in large size stocks whereas there is negative momentum profit in small size stocks during the period of 2010 to 2014. Furthermore, the equal weighted average of momentum profit of both small and large size category do not provide any indication of overall momentum profit.

Keywords: momentum strategy, past loser, past winner, stock exchange of Thailand

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Authors: Maider Gómez Palmero, Ana Carrasco Pérez, Paula de la Sen de la Cruz, Francisco Javier Royo Herrer, Sonia Ascaso Malo

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The production of bio-based products for different purposes is one of the strategies that has grown the most at European and even global levels, seeking to contribute to mitigating the impacts associated with climate change and to achieve the ambitious objectives set in this regard. However, the substitution of fossil-based products for bio-based products requires a challenging and deep transformation and adaptation of the secondary and primary sectors and, more specifically, in the latter, the agro-industries. The first step to developing a bio-based value chain focuses on the availability of a resource with the right characteristics for the substitution sought. This, in turn, requires a significant reshaping of the forestry/agricultural sector but also of the agro-industry, which has a relevant potential to be deployed as a supplier and develop a robust logistical supply chain and to market a biobased raw material at a competitive price. However, this transformation may involve a profound restructuring of its traditional business model to incorporate biorefinery concepts. In this sense, agro-industries that generate by-products in their processes that are currently not valorized, such as potato processing rejects or the starch found in washing water, constitute a potential raw material that can be used for different bio-applications. This article aims to explore this potential to evaluate the most suitable bio applications to target and identify opportunities and challenges.

Keywords: starch valorisation, biorefinery, bio-based raw materials, bio-applications

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Authors: Chin-Hsiang Chu

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This article review the literature in the field among the marketing and aesthetics, the current market and customer-oriented product sales, and gradually from the practical functionality, transformed into the visual appearance of the concept note and the importance of marketing experience substance 'economic Aesthetics' trend. How to introduce the concept of aesthetic and differentiate products have become an important content of marketing management in for an organization in marketing.In previous studies,marketing aesthetic related researches are rare.Therefore, the purpose of this study to explore the connection between aesthetics and marketing of the market economy, and aggregated content through literature review, trying to find related research implications for the management of marketing aesthetics, market-oriented and customer value and development of the product. In this study, the problem statement and background, the development of the theory of evolution, as well as methods and results of discovery stage, literature review was conducted to explore. The results found: (1) Study of Aesthetics will help deepen the shopping environment and service environment commonly understood. (2) the perceived value of products imported aesthetic, consumer willingness to buy, and even premium products will be more attractive. (3) marketing personnel for general marketing management with a high degree of aesthetic identity. (4) management in marketing aesthetics connotation, aesthetic characteristics of five elements is greatly valued by the real-time, complex, specificity, attract sexual and richness. (5) allows consumers to experience through the process due to stimulate the senses, the mind and thinking with the corporate brand or have a deeper link. Results of this study can be used as business in a competitive market, new product development and design of the guide.

Keywords: marketing aesthetics, aesthetics economic, aesthetic, experiential marketing

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Authors: Cinthia C. Costa, Heloisa L. Burnquist, Joaquim J. M. Guilhoto

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This study identified the impact of special agricultural safeguards (SSG) for the global market of meat and for the Brazilian economy. The tariff lines subject to SSG were selected and the period of analysis was 1995 (when the rules about the SSGs were established) to 2015 (more recent period for which there are notifications). The value of additional tariff was calculated for each of the most important tariff lines. The import volume and the price elasticities for imports were used to estimate the impacts of each additional tariff estimated on imports. Finally, the effect of Brazilian exports of meat without SSG taxes was calculated as well as its impact in the country’s economy by using an input-output matrix. The most important markets that applied SSGs were the U.S. for beef and European Union for poultry. However, the additional tariffs could be estimated in only two of the sixteen years that the U.S. applied SSGs on beef imports, suggesting that its use has been enforced when the average annual price has been higher than the trigger price level. The results indicated that the value of the bovine and poultry meat that could not be exported by Brazil due to SSGs to both markets (EU and the U.S.) was equivalent to BRL 804 million. The impact of this loss in trade was about: BRL 3.7 billion of the economy’s production value (at 2015 prices) and almost BRL 2 billion of the Brazilian Gross Domestic Product (GDP).

Keywords: beef, poultry meat, SSG tariff, input-output matrix, Brazil

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Authors: B. Gechbaia, K. Goletiani, G. Gabedava, N. Mikeltadze

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At this stage, Georgia is a country which is actively involved in the European integration process, for which the primary priority is effective integration in the European education system. The modern Georgian higher education system is the process of establishing a new sociocultural reality, whose main priorities are determined by the Quality System as a continuous cycle of planning, implementation, checking and acting. Obviously, in this situation, the issue of management of education institutions comes out in the foreground, since the proper planning and implementation of personnel management processes is one of the main determinants of the company's performance. At the same time, one of the most important factors is the psychological comfort of the personnel, ensuring their protection and efficiency of stress management policy. The purpose of this research is to determine how intensely the relationship is between the psychological comfort of the personnel and the efficiency of the quality system in the institution as the quality assurance mechanisms of educational institutions affect the stability of personnel, prevention and management of the stressful situation. The research was carried out within the framework of the Internal Grant Project «The Role of Organizational Culture in the Process of Settlement of Management of Stress and Conflict, Georgian Reality and European Experience » of the Batumi Navigation Teaching University, based on the analysis of the survey results of target groups. The small-scale research conducted by us has revealed that the introduction of quality assurance system and its active implementation increased the quality of management of Georgian educational institutions, increased the level of universal engagement in internal and external processes and as a result, it has improved the quality of education as well as social and psychological comfort indicators of the society.

Keywords: quality assurance, effective management, stability of personnel, psychological comfort, stress management

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Authors: Peng Yew Wong

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House prices in the Australian capital cities were at record levels subsequent to Global Financial Crisis (GFC) 2008 and many believed that foreign investors, especially the Chinese investors, were the main reason for the Australian capital cities’ house prices escalation. This research conducted an Australian cross border semi-structured interviews in Shanghai, China to uncover historical evidence and emerging trend supporting the existence of a significant relationship between overseas investors and residential housing markets performance in Australia subsequent to the GFC 2008. Some unique investment strategies of private investors from China which emphasised on non-capitalist factors such as early education were identified, alongside with some insights on the significant China government policies that have incentivised the cross border investments from China. It is believed that this understanding will assist policy makers to effectively manage the overheated Australian residential property market without compromising the steady flow of FREI.

Keywords: Australian housing market, residential property, foreign real estate investment, education, China investor

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Authors: Maria Jędrzejczak, Patryk Pieniążek

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The European legal reality is on the eve of significant change. In European Union law, there is talk of a “fourth industrial revolution”, which is driven by massive data resources linked to powerful algorithms and powerful computing capacity. The above is closely linked to technological developments in the area of artificial intelligence, which has prompted an analysis covering both the legal environment as well as the economic and social impact, also from an ethical perspective. The discussion on the regulation of artificial intelligence is one of the most serious yet widely held at both European Union and Member State level. The literature expects legal solutions to guarantee security for fundamental rights, including privacy, in artificial intelligence systems. There is no doubt that personal data have been increasingly processed in recent years. It would be impossible for artificial intelligence to function without processing large amounts of data (both personal and non-personal). The main driving force behind the current development of artificial intelligence is advances in computing, but also the increasing availability of data. High-quality data are crucial to the effectiveness of many artificial intelligence systems, particularly when using techniques involving model training. The use of computers and artificial intelligence technology allows for an increase in the speed and efficiency of the actions taken, but also creates security risks for the data processed of an unprecedented magnitude. The proposed regulation in the field of artificial intelligence requires analysis in terms of its impact on the regulation on personal data protection. It is necessary to determine what the mutual relationship between these regulations is and what areas are particularly important in the personal data protection regulation for processing personal data in artificial intelligence systems. The adopted axis of considerations is a preliminary assessment of two issues: 1) what principles of data protection should be applied in particular during processing personal data in artificial intelligence systems, 2) what regulation on liability for personal data breaches is in such systems. The need to change the regulations regarding the rights and obligations of data subjects and entities processing personal data cannot be excluded. It is possible that changes will be required in the provisions regarding the assignment of liability for a breach of personal data protection processed in artificial intelligence systems. The research process in this case concerns the identification of areas in the field of personal data protection that are particularly important (and may require re-regulation) due to the introduction of the proposed legal regulation regarding artificial intelligence. The main question that the authors want to answer is how the European Union regulation against data protection breaches in artificial intelligence systems is shaping up. The answer to this question will include examples to illustrate the practical implications of these legal regulations.

Keywords: data protection law, personal data, AI law, personal data breach

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Authors: Karolína Vozková, Matěj Kuc

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Net fee and commission income is one of the key elements of a bank’s core income. In the current low-interest rate environment, this type of income is gaining importance relative to net interest income. This paper analyses the effects of bank and country specific determinants of net fee and commission income on a set of cooperative banks from European countries in the 2007-2014 period. In order to do that, dynamic panel data methods (system Generalized Methods of Moments) were employed. Subsequently, alternative panel data methods were run as robustness checks of the analysis. Strong positive impact of bank concentration on the share of net fee and commission income was found, which proves that cooperative banks tend to display a higher share of fee income in less competitive markets. This is probably connected with the fact that they stick with their traditional deposit-taking and loan-providing model and fees on these services are driven down by the competitors. Moreover, compared to commercial banks, cooperatives do not expand heavily into non-traditional fee bearing services under competition and their overall fee income share is therefore decreasing with the increased competitiveness of the sector.

Keywords: cooperative banking, dynamic panel data models, net fee and commission income, system GMM

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Authors: Mohammad Ayub Khan

Abstract:

With increased market segmentation and competition in the hotel industry, a hotel’s ability to constantly renovate its services and amenities is a business practice that can be termed as an attitude that is not only flexible but also malleable as a result of which a hotel/property is continually poised to face the ever-changing nature of the hospitality industry and upgrades that keep the hotel or brand in competition with current competitors. One such challenge is to competitively and creatively market value-added amenities, upgraded technology, and marketing all of these as a package to not only stay relevant in the market but also to retain and enhance revenues to ensure the future financial health of a hotel. This delicate balance between staying relevant and financially viable is a crucial challenge that this poster will explore, analyze, and present by specifically looking at the ability of a hotel/brand to effectively translate its theoretical need and practice of constantly staying updated, including strategically renovating, upgrading, modifying its services, into a tangible business practice. In what ways do hotels face this challenge? In what areas of the hotel is this business concept/action most effective and profitable are just some questions that this paper will attempt to answer.

Keywords: hospitality theory, renovations, value-added amenities, strategic planning

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Authors: Dishant Shahi, Aradhya Shandilya, Nand Kumar

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We study here the impact of the black component referred to as X component in the text on Real estate transactions. The X component involved not only acts as friction in transaction but also leads to dysfunctionality in the capital market of real estate. The effect of the component is presented by using a model of economy which seeks resemblance with that of India involving property deals. The rigidities which hinder smooth transactions in property or land deals are depicted and their impact on the economy as a whole has been modelled. The effect of subprime crisis (2007) on Indian housing capital market and the role which the X component played during it, is also included in one of the sections. In the entire text, we have utilised 4 Quadrant graphs to study supply and demand causalities involved in commercial real estate. At the end we have included the impact of demonetisation as a move to counter the problem of overvaluation in the property assets arising due to the X component. The case of Demonetisation which has been the latest move by the Indian Government to control huge amount of black money in circulation has been included along with its impact on the housing and rent as well as the capital market.

Keywords: X-component, 4Q graph, real estate, capital markets, demonetisation, consumer sentiments

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