Search results for: market entry

Authors: Shuofen Hsu, Ya-Yi Chao, Chao-Wei Li

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This paper investigates the factors of whether firms’ quarterly consolidated financial statements to be voluntary reviewed by auditor. To promote the information transparency, the Financial Supervisory Commission of Executive Yuan in Taiwan ruled the Taiwanese listed companies should announce the first and third quarterly consolidated financial statements since 2008 to 2012, while the Commission didn’t require the consolidated financial statements should be reviewed by auditors. This is a very special practice in emerging market, especially in Taiwan. The valuable data of this period is suitable for us to research the determinants of firms’ voluntary review decision in emerging markets. We collected the auditors' report of each company and each year of Taiwanese listed companies since 2008 to 2012 for our research samples. We use probit model to test and analyze the determinants of voluntary review decision of the first and third quarterly consolidated financial statements. Our empirical result shows that the firms whose first and third quarterly consolidated financial statements are voluntary to be reviewed by auditors have better ranking of information transparency, higher audit quality, and better corporate governance, suggesting that voluntary review is a good signal to firms’ better information and corporate governance quality.

Keywords: voluntary review, information transparency, audit quality, quarterly consolidated financial statements

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Authors: Anoop T. R., Otman Basir, Robert F. Hess, Ben Thompson

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Strabismus refers to a misalignment of the eyes. Early detection and treatment of strabismus in childhood can prevent the development of permanent vision loss due to abnormal development of visual brain areas. Currently, many children with strabismus remain undiagnosed until school entry because current automated screening methods have limited success in the preschool age range. A method for strabismus detection using eye alignment stability (EAS) is proposed. This method starts with face detection, followed by facial landmark detection, eye region segmentation, eye gaze extraction, and eye alignment stability estimation. Binarization and morphological operations are performed for segmenting the pupil region from the eye. After finding the EAS, its absolute value is used to differentiate the strabismic eye from the non-strabismic eye. If the value of the eye alignment stability is greater than a particular threshold, then the eyes are misaligned, and if its value is less than the threshold, the eyes are aligned. The method was tested on 175 strabismic and non-strabismic images obtained from Kaggle and Google Photos. The strabismic eye is taken as a positive class, and the non-strabismic eye is taken as a negative class. The test produced a true positive rate of 100% and a false positive rate of 7.69%.

Keywords: strabismus, face detection, facial landmarks, eye segmentation, eye gaze, binarization

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Authors: Gang Wang

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Education is widely believed to be a prerequisite for democracy and civil society, but the causal link between education and outcome variables is usually hardly to be identified. This study applies a fuzzy regression discontinuity design to examine the effects of college education on democratic attitudes in the Chinese context. In the analysis treatment assignment is determined by students’ college entry years and thus naturally selected by subjects’ ages. Using a sample of Chinese college students collected in Beijing in 2009, this study finds that college education actually reduces undergraduates’ motivation for political development in China but promotes political loyalty to the authoritarian government. Further hypotheses tests explain these interesting findings from two perspectives. The first is related to the complexity of politics. As college students progress over time, they increasingly realize the complexity of political reform in China’s authoritarian regime and rather stay away from politics. The second is related to students’ career opportunities. As students are close to graduation, they are immersed with job hunting and have a reduced interest in political freedom.

Keywords: china, college education, democratic attitudes, regression discontinuity

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Authors: Yiyan Wu

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In the past several decades, the market transition in China has brought in not only more opportunities for women in the labor market but also more attention to gender inequality in workplace. Although some pieces of literature have mentioned gender inequality and segregation at workplace in China, the paper looks into the variations of gender inequality and segregation: working women have little feeling about 'hierarchical inequalities', which define the status and position of women at the workplace. However, at the same time, they unconsciously reinforced 'horizontal inequalities', which creates gender segregation across occupations and job titles. Using qualitative interviews with women employers and employees of various occupations and job titles in Eastern and Southern China, this paper finds evidence that working women's understandings of the division of labor based on the characteristics and expectations of women and men are not as a result of rationality and efficiency, but instead, are the products of gendered stereotypes and traditions. However, holding positive views of gender equality at workplace, working women are not aware of the existence and influence of such gendered stereotypes and traditions. By distinguishing the concepts of 'horizontal inequality' and 'hierarchical inequality' with a cultural sociological approach, this paper contributes to the understanding of gender inequality and segregation in contemporary Chinese society. Moreover, this paper explains the logic behind the paradox in which gender inequality and segregation at workplace persist while women are feeling equal.

Keywords: gender equality, segregation, hierarchical inequality, horizontal inequality, China

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Authors: Teresa Kupczyk, Selçuk Mustafa Özcan, Joanna Kubicka

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The paper presents results of specialist literature analysis concerning learning outcomes and student satisfaction as a factor of the necessary change in the Polish higher education system. The objective of the empirical research was to determine students’ assessment of learning outcomes, satisfaction of their expectations, as well as their satisfaction with lectures and practical classes held in the traditional form, e-learning and video-conference. The assessment concerned effectiveness of time spent at classes, usefulness of the delivered knowledge, instructors’ preparation and teaching skills, application of tools, studies curriculum, its adaptation to students’ needs and labour market, as well as studying conditions. Self-assessment of learning outcomes was confronted with assessment by lecturers. The indirect objective of the research was also to identify how students assessed their activity and commitment in acquisition of knowledge and their discipline in achieving education goals. It was analysed how the studies held affected the students’ willingness to improve their skills and assessment of their perspectives at the labour market. To capture the changes underway, the research was held at the beginning, during and after completion of the studies. The study group included 86 students of two editions of full-time studies majoring in Management and specialising in “Mega-event organisation”. The studies were held within the EU-funded project entitled “Responding to challenges of new markets – innovative managerial education”. The results obtained were analysed statistically. Average results and standard deviations were calculated. In order to describe differences between the studied variables present during the process of studies, as well as considering the respondents’ gender, t-Student test for independent samples was performed with the IBM SPSS Statistics 21.0 software package. Correlations between variables were identified by calculation of Pearson and Spearman correlation coefficients. Research results suggest necessity to introduce some changes in the teaching system applied at Polish higher education institutions, not only considering the obtained outcomes, but also impact on students’ willingness to improve their qualifications constantly, improved self-assessment among students and their opportunities at the labour market.

Keywords: higher education, learning outcomes, students, change

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Authors: Vinko Lešić, Mario Vašak, Anita Martinčević, Marko Gulin, Antonio Starčić, Hrvoje Novak

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With 40% of total world energy consumption, building systems are developing into technically complex large energy consumers suitable for application of sophisticated power management approaches to largely increase the energy efficiency and even make them active energy market participants. Centralized control system of building heating and cooling managed by economically-optimal model predictive control shows promising results with estimated 30% of energy efficiency increase. The research is focused on implementation of such a method on a case study performed on two floors of our faculty building with corresponding sensors wireless data acquisition, remote heating/cooling units and central climate controller. Building walls are mathematically modeled with corresponding material types, surface shapes and sizes. Models are then exploited to predict thermal characteristics and changes in different building zones. Exterior influences such as environmental conditions and weather forecast, people behavior and comfort demands are all taken into account for deriving price-optimal climate control. Finally, a DC microgrid with photovoltaics, wind turbine, supercapacitor, batteries and fuel cell stacks is added to make the building a unit capable of active participation in a price-varying energy market. Computational burden of applying model predictive control on such a complex system is relaxed through a hierarchical decomposition of the microgrid and climate control, where the former is designed as higher hierarchical level with pre-calculated price-optimal power flows control, and latter is designed as lower level control responsible to ensure thermal comfort and exploit the optimal supply conditions enabled by microgrid energy flows management. Such an approach is expected to enable the inclusion of more complex building subsystems into consideration in order to further increase the energy efficiency.

Keywords: price-optimal building climate control, Microgrid power flow optimisation, hierarchical model predictive control, energy efficient buildings, energy market participation

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Authors: Sara Pereira-Nogueira, Tim Worbs, Marc Permanyer-Bosser, Reinhold Förster

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While the entry mechanism of lymphocytes into the lymph node via the blood are well described, it is still largely unknown how cells enter lymph nodes that arrive via afferent lymphatics. In order to address this, our group has established a micro-injection technique in mice through which cells are delivered directly into the lymphatic vessel immediately afferent to the popliteal lymph node. Injected cells can then be tracked via multi-colour fluorescence or 2-photon microscopy, and their localization can be analysed within the popliteal or downstream lymph nodes by immunohistology. Since naïve B cells express the chemokine receptor CXCR5 we intra-lymphatically co-injected B cells derived from wildtype and Cxcr5-deficient mice. While CXCR5 does not play a role in guiding B cells out of the subcapsular sinus, it affects their positioning within the lymph node parenchyma, since CXCR5-deficient B cells are impaired in migrating into the B cell follicle. The knowledge obtained by studying B-cell migration may prove beneficial in clinical settings regarding tumor metastasis or autoimmune diseases.

Keywords: afferent lymphatics, B cell migration, chemokine, intra-lymphatic injection

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Authors: Jianzheng Wei, Duo Zhen, Zhihan Yang, Huifeng Tan

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The deployable descent technology is a lightweight entry method using an inflatable heat shield. The heatshield consists of a pressurized core which is covered by different layers of thermal insulation and flexible ablative materials in order to protect against the thermal loads. In this paper, both aluminum and silicon-aluminum aerogels were prepared by freeze-drying method. The latter material has bigger specific surface area and nano-scale pores. Mullite fibers are used as the reinforcing fibers to prepare the aerogel matrix to improve composite flexibility. The flexible composite materials were performed as an insulation layer to an underlying aramid fabric by a thermal shock test at a heat flux density of 120 kW/m² and uniaxial tensile test. These results show that the aramid fabric with untreated mullite fibers as the thermal protective layer is completely carbonized at the heat of about 60 s. The aramid fabric as a thermal resistance layer of the composite material still has good mechanical properties at the same heat condition.

Keywords: aerogel, aramid fabric, flexibility, thermal resistance

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Authors: Bi-Huei Tsai

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Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightly-distressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models, are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the two-stage model incorporating financial ratios, corporate governance and market factors has the lowest misclassification error rate. The two-stage model is more accurate than the one-stage model as its distressed cut-off indicators are adjusted according to the macroeconomic-based credit cycle index.

Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy

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Authors: Olivier Mesly

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This research presents a conceptual framework termed “Consumer Financial Spinning” (CFS) to analyze consumer behavior in the financial/economic markets. This phenomenon occurs when consumers of high-stakes financial products accumulate unsustainable debt, leading them to detach from their initial financial hierarchy of needs, wealth-related goals, and preferences regarding their household portfolio of assets. The daring actions of these consumers, forming a dark financial triangle, are characterized by three behaviors: overconfidence, the use of rationed rationality, and deceitfulness. We show that we can incorporate CFS into the traditional CAPM and Markovitz’ portfolio optimization models to create a framework that explains such market phenomena as the global financial crisis, highlighting the antecedents and consequences of ill-conceived speculation. Because this is a conceptual paper, there is no methodology with respect to ground studies. However, we apply modeling principles derived from the data percolation methodology, which contains tenets explicating how to structure concepts. A simulation test of the proposed framework is conducted; it demonstrates the conditions under which the relationship between expected returns and risk may deviate from linearity. The analysis and conceptual findings are particularly relevant both theoretically and pragmatically as they shed light on the psychological conditions that drive intense speculation, which can lead to market turmoil. Armed with such understanding, regulators are better equipped to propose solutions before the economic problems become out of control.

Keywords: consumer financial spinning, rationality, deceitfulness, overconfidence, CAPM

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Authors: Liu Dan

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It was considered either unnecessary or impossible for primary school students to implement online teaching until last year. A large number of E-learning or E-teaching researches have been focused on adult-learners, andragogy and technology, however, primary school education, it is facing many problems that need to be solved. Therefore, this research is aimed at exploring barriers and influential factors on online teaching for K-12 students from teachers’ perspectives and discussing the E-pedagogy that is suitable for primary school students and teachers. Eight hundred and ninety-six teachers from 10 primary schools in Shanghai were invited to participate in a questionnaire survey. Data were analysed by hierarchical regression, and the results stress the significant three barriers by teachers with online teaching: the existing system is deficient in emotional interaction, teachers’ attitude towards the technology is negative and the present teacher training is lack of systematic E-pedagogy guidance. The barriers discovered by this study will help the software designers (E-lab) develop tools that allow for flexible and evolving pedagogical approaches whilst providing an easy entry point for cautious newcomers, so that help the teachers free to engage in E-teaching at pedagogical and disciplinary levels, to enhance their repertoire of teaching practices.

Keywords: online teaching barriers (OTB), e-teaching, primary school, teachers, technology

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Authors: Sunday Ofum Ogon

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The 1648 Westphalia Conference in Europe ushered in the state as the only legal entity with powers to engage in interstate relations on matters that bothers on the development need of her citizens. This epochal entry of the state reshaped global relations with the curtailment of the powers of individual and groups in external relations as the state became the only entity that acted on behalf of any individual or non-state actors like NGOs residing within the parameters of such a country. Thus, the paper interrogated the extent at which the state determines her Politico-Economic relations with regards to development and growth within the state. To achieve these objectives, the paper relied on documentary evidences wherein the qualitative descriptive method was used for data collection and analysis. The paper exploited the facilities of the Rentier State theory as a guide to the study. It was revealed at the end of the study that the 21st century global economic relations is largely determine by international organizations as exemplified by the World Bank and the International Monitory Fund (IMF) where their activities in the continent has undermined state sovereignty. Hence the paper recommended amongst others that states should look inward for development strategies rather than relying on handout from supra-national organizations which has infringe on their sovereignty.

Keywords: State , Global , Rentier state, Twenty-First Century

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Authors: Tijjani Bashir Musa

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The recent global crisis which suddenly results to Nigerian stock market crash revealed some peculiarities of Nigerian firms. Some firms in Nigeria are performing but their stock prices are not increasing while some firms are at the brink of collapse but their stock prices are increasing. Thus, this study examines the relationship between firm performance and stock price in Nigeria. The study covered the period of 2005 to 2009. This period is the period of stock boom and also marked the period of stock market crash as a result of global financial meltdown. The study is a panel study. A total of 140 firms were sampled from 216 firms listed on the Nigerian Stock Exchange (NSE). Data were collected from secondary source. These data were divided into four strata comprising the most performing stock, the least performing stock, most performing firms and the least performing firms. Each stratum contains 35 firms with characteristic of most performing stock, most performing firms, least performing stock and least performing firms. Multiple linear regression models were used to analyse the data while statistical/econometrics package of Stata 11.0 version was used to run the data. The study found that, relationship exists between selected firm performance parameters (operating efficiency, firm profit, earning per share and working capital) and stock price. As such firm performance gave sufficient information or has predictive power on stock prices movements in Nigeria for all the years under study.. The study recommends among others that Managers of firms in Nigeria should formulate policies and exert effort geared towards improving firm performance that will enhance stock prices movements.

Keywords: firm, Nigeria, performance, stock price

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Authors: İmren Öztürk Yılmaz, Abdullah Yasin Bilici, Yasin Atalay Candemir

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The system consists of 4 main elements: motion system, image acquisition system, image processing software, and control interface. The parts coming out of the production line to enter the image processing system with the conveyor belt at the end of the line. The 3D scanning of the produced part is performed with the laser scanning system integrated into the system entry side. With the 3D scanning method, it is determined at what position and angle the parts enter the system, and according to the data obtained, parameters such as part origin and conveyor speed are calculated with the designed software, and the robot is informed about the position where it will take part. The robot, which receives the information, takes the produced part on the belt conveyor and shows it to high-resolution cameras for quality control. Measurement processes are carried out with a maximum error of 20 microns determined by the experiments.

Keywords: quality control, industry 4.0, image processing, automated fault detection, digital visual inspection

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Authors: Elvira Loibl

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In Western countries, the demand for adoptable children, especially healthy babies, has been considerably high for several years. Rising infertility rates, liberal abortion politics, the widespread use of contraception, and the increasing acceptance of unmarried motherhood are factors that have decreased the number of infants available for domestic adoption in the U.S. and Europe. As a consequence, many involuntarily childless couples turn to intercountry adoption as a viable alternative to have a child of their own. However, the demand for children far outpaces the supply of orphans with the desired characteristics. The imbalance between the number of prospective adopters and the children available for intercountry adoption results in long waiting lists and high prices. The inordinate sums of money involved in the international adoption system have created a commercial ‘underbelly’ where unethical and illicit practices are employed to provide the adoption market with adoptable children. Children are being purchased or abducted from their families, hospitals or child care institutions and then trafficked to receiving countries as ‘orphans’. This paper aims to uncover and explain the factors of the German adoption system that are conducive to child trafficking for adoption purposes. It explains that the tension between money and integrity as experienced by German adoption agencies, blind trust in the authorities in the sending countries as well as a lenient control system encourage and facilitate the trafficking in children to Germany.

Keywords: child trafficking, intercountry adoption, market in adoptable babies, German adoption system

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Authors: Jangje Park, So Young Kim

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The market demand for audio quality in mobile devices continues to increase, and audible buzz noise generated in time division communication is a chronic problem that goes against the market demand. In the case of time division type communication, the RF Power Amplifier (RF PA) is driven at the audio frequency cycle, and it makes various influences on the audio signal. In this paper, we measured the ground bounce noise generated by the peak current flowing through the ground network in the RF PA with the audio frequency; it was confirmed that the noise is the cause of the audible buzz noise during a call. In addition, a grounding method of the microphone device that can improve the buzzing noise was proposed. Considering that the level of the audio signal generated by the microphone device is -38dBV based on 94dB Sound Pressure Level (SPL), even ground bounce noise of several hundred uV will fall within the range of audible noise if it is induced by the audio amplifier. Through the grounding method of the microphone device proposed in this paper, it was confirmed that the audible buzz noise power density at the RF PA driving frequency was improved by more than 5dB under the conditions of the Printed Circuit Board (PCB) used in the experiment. A fundamental improvement method was presented regarding the buzzing noise during a mobile phone call.

Keywords: audio frequency, buzz noise, ground bounce, microphone grounding

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Authors: A. Gulbiniene, V. Jankauskaite

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Textile laminates with breathable membranes are used extensively in protective footwear. Such polymeric membranes act as a barrier to liquid water and soil entry from the environment, but are sufficiently permeable to water vapour to allow significant amounts of sweat to evaporate and affect the comfort of the wearer. In this paper the influence of absorbed humidity amount on the electrical properties of textiles lining laminates with and without polymeric membrane is presented. It was shown that textile laminate structure and its layers have a great influence on the water vapour absorption. Laminates with polyurethane foam layers show lower ability to absorb water vapour. Semi-permeable membrane increases absorbed humidity amount. The increase of water vapour absorption ability decreases textile laminates' electrical resistance. However, the intensity of the decrease in electrical resistance depends on the textile laminate layers' nature. Laminates with polyamide layers show significantly lower electrical resistance values.

Keywords: electrical resistance, humid atmosphere, textiles laminate, water vapour absorption

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Authors: Christopher Benedikt Jakob

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In our current society, there is no need to take a look at the wristwatch to know the exact time. Smartphones, the watch in the car or the computer watch, inform us about the time too. Over hundreds of years, luxury watches have held a fascination for human beings. Consumers buy watches that cost thousands of euros, although they could buy much cheaper watches which also fulfill the function to indicate the correct time. This shows that the functional value has got a minor meaning with reference to the buying-reasons as regards luxury watches. For a few years, people have an increased demand to track data like their walking distance per day or to track their sleep for example. Smart watches enable consumers to get information about these data. There exists a trend that people intend to optimise parts of their social life, and thus they get the impression that they are able to optimise themselves as human beings. With the help of smart watches, they are able to optimise parts of their productivity and to realise their targets at the same time. These smart watches are also offered as luxury models, and the question is: how will customers of traditional luxury watches react? Therefore this study has the intention to give answers to the question why people are willing to spend an enormous amount of money on the consumption of luxury watches. The self-expression model, the relationship basis model, the functional benefit representation model and the means-end-theory are chosen as an appropriate methodology to find reasons why human beings purchase specific luxury watches and luxury smart watches. This evaluative approach further discusses these strategies concerning for example if consumers buy luxury watches/smart watches to express the current self or the ideal self and if human beings make decisions on expected results. The research critically evaluates that relationships are compared on the basis of their advantages. Luxury brands offer socio-emotional advantages like social functions of identification and that the strong brand personality of luxury watches and luxury smart watches helps customers to structure and retrieve brand awareness which simplifies the process of decision-making. One of the goals is to identify if customers know why they like specific luxury watches and dislike others although they are produced in the same country and cost comparable prices. It is very obvious that the market for luxury watches especially for luxury smart watches is changing way faster than it has been in the past. Therefore the research examines the market changing parameters in detail.

Keywords: buying-behaviour, brand management, consumer, luxury watch, smart watch

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Authors: Zahra Mila Elmi, Mahsa Khanekheshi

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Almost half of the population and potential manpower in the country and rural areas are women. Manpower especially educated people, plays an important role in the production and economic growth. Also, the potential of rural areas to create employment should not be overlooked. In this research, the effects of socio-economic and demographic factors on women's economic participation in rural areas of Iran's provinces will be studied. Therefore, this study was performed by using the results of the rural households income and expenditure surveys -has been taken in 2016- in the framework of pseudo panel data. This study used the logit model and the maximum likelihood method to study the rural women's participation, with 28,265 observations. Results show the inverted U-shaped relationship between age and the probability of female participation; In other words, young women are more likely to participate in labor markets more than the other groups. Divorced and single woman has more chance of participation in comparison with who was being married. With increasing the divorce rate and singleness in Iran, economic policymakers must provide appropriate solutions for this challenge in the coming years. On the base of the results, being a student and the presence of an infant under the age of 6 in the household has a negative effect on the possibility of women's participation in the labor market. The women's education level has a U-shaped relationship with their participation rate. Illiteracy and high education have a strong positive effect on the economic participation of rural women. This shows the dual labor market for women in Iran. Illiterate women are attracted to service jobs, and educated woman are more attracted to education and health jobs. Increasing household income has a small but positive and significant effect on the probability of rural female participation. In the overlook, due to the frequency of the women population in the age group of 25 to 35 years, and more willingness of women in the age 35 to 44 years to participate in the labor market, and studying ofa significant portion of the rural women, the increase of rural female participation is expected in the years ahead. Thus, it is expected policy maker to create new job opportunities for the employment of educated women and take the necessary plan to improve the current situation for women.

Keywords: female participation rate, rural area, provincial data, pseudo-panel data method

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Authors: Vijay Kumar, Mack Moyo, Johannes Van Staden

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Lachenalia viridiflora is a critically endangered bulbous plant with high potential on the international floriculture market. In the present study, an efficient protocol for in vitro plantlet regeneration through somatic embryogenesis was developed. Embryogenic callus was established on Murashige and Skoog (MS) basal medium supplemented with various concentrations and combinations of picloram and thidiazuron (TDZ). A high number of SEs (28.5 ± 1.49) with at different developmental stages of somatic embryos (SEs: globular embryos, torpedo and cotyledon embryo with bipolar characteristics) was obtained on Murashige and Skoog (MS) (Murashige and Skoog 1962) medium with 2.5 μM picloram, and 1.0 μM TDZ. Histological and scanning electron microscopic (SEM) analysis confirmed the presence of somatic embryos. Mature somatic embryos germinated and developed into plantlets after 6 weeks on half/full strength MS medium. High plant regeneration frequency (91.11 %) was achieved on full-strength MS medium supplemented with 5 μM phloroglucinol (PG). Well-developed healthy plantlets were successfully acclimatized in the greenhouse with a survival rate of 80%. The result of this study is beneficial in the mass propagation of high-quality Lachenalia viridiflora clonal plants for the commercial horticultural market and also provides a platform for future genetic transformation studies on the plant.

Keywords: horticultural plant, Lachenalia viridiflora, phloroglucinol, somatic embryogenesis, thidiazuron

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Authors: Jesus Kombaya, Nadia Hamani, Lyes Kermad

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The preservation of a company’s place on the market in such aggressive competition is becoming a survival challenge for manufacturers. In this context, survivors are only those who succeed to satisfy their customers’ needs as quickly as possible. The production system should be endowed with a certain level of flexibility to eliminate or reduce the rigidity of the production systems in order to facilitate the conversion and/or the change of system’s features to produce different products. Therefore, it is essential to guarantee the quality, the speed and the flexibility to survive in this competition. According to literature, this adaptability is referred to as the notion of "change". Indeed, companies are trying to establish a more flexible and agile manufacturing system through several reconfiguration actions. Reconfiguration contributes to the extension of the manufacturing system life cycle by modifying its physical, organizational and computer characteristics according to the changing market conditions. Reconfigurability is characterized by six key elements that are: modularity, integrability, diagnosability, convertibility, scalability and customization. In order to control the production systems, it is essential for manufacturers to make good use of this capability in order to be sure that the system has an optimal and adapted level of reconfigurability that allows it to produce in accordance with the set requirements. This document develops a measure of customization of reconfigurable production systems. These measures do not only impact the production system but also impact the product design and the process design, which can therefore serve as a guide for the customization of manufactured product. A case study is presented to show the use of the proposed approach.

Keywords: reconfigurable manufacturing systems, customization, measure, flexibility

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Authors: Komal Saini, B. K. Sahoo, B.S. Bajwa

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In the present study, indoor radon and thoron concentrations have been estimated using newly developed twin cup based pin hole dosimeter with single entry face in some areas of Punjab state, India. The equilibrium equivalent concentration (EEC) of radon and thoron has also been estimated directly by using progeny sensors, fabricated by BARC, India. Observed radon and thoron concentrations varied from 38.7±5.79 to 98.7±13.11 Bq/m3 and 25.38±6.56 to 126.56±14.23 Bq/m3 with an average value of 61.59±8.11 & 70.89±9.52 Bq/m3 respectively. Average equilibrium equivalent concentration of radon and thoron was 27.98±4.66 & 2.24±0.61 Bq/m3. Calculated equilibrium factor for radon and thoron was 0.467 and 0.034 in the present study. Annual inhalation dose calculated from the present observed concentrations, varied from 1.80 to 3.60 mSv/year with an average value of 2.52 mSv/year, which is well within reference level. It has been observed from the present study that thoron is a significant contributor to the inhalation dose which is about 25% of the total inhalation dose.

Keywords: radon, thoron, pin hole cup dosimeter, DTPS/DRPS, annual inhalation dose

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Authors: Beaula, M. Kruger, Silindisipho, T. Belot

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Small informal retailers are considered one of the most important features of developing countries around the world. Those small informal retailers form part of the local communities in South African townships and are estimated to be more than 100,000 across the country. The township economic landscape has changed over time in South Africa. The traditional small informal retailers in South African Townships have been faced with numerous challenges of increasing competition; an increase in the number of local retail shops and foreign-owned shops. There is evidence that the South African personal and disposable income has increased amongst black African consumers. Historically, people residing in townships were restricted to informal retail shops; however, this has changed due to the growing number of formal large retail chains entering into the township market. The larger retail chains are aware of the improved income levels of the middle-income townships residence and as a result, larger retailers have followed certain strategies such as; (1) retail format development; (2) diversification growth strategy; (3) market penetration growth strategy and (4) market expansion. This research did a comparative analysis between the different retail models developed by Pick n Pay, Spar and Shoprite. The research methodology employed for this study was of a qualitative nature and made use of a case study to conduct a comparative analysis between larger retailers. A questionnaire was also designed to obtain data from existing smaller retailers. The study found that larger retailers have developed smaller retail formats to compete with the traditional smaller retailers operating in South African townships. Only one out of the two large retailers offers entrepreneurs a franchise model. One of the big retailers offers the opportunity to employ between 15 to 20 employees while the others are subject to the outcome of a feasibility study. The response obtained from the entrepreneurs in the townships were mixed, while some found their presence as having a “negative impact,” which has increased competition; others saw them as a means to obtain a variety of products. This research found that the most beneficial retail model for both bigger retail and existing and new entrepreneurs are from Pick n Pay. The other retail format models are more beneficial for the bigger retailers and not to new and existing entrepreneurs.

Keywords: Pick n Pay, retailers, shoprite, spar, townships

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Authors: A. Mukrimah, M. Mohd Parid, H. F. Lim

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Wetland ecosystem has valuable resources that contribute to national income generation and public well-being, either directly by resources that have a market value or indirectly by resources that have no market value. Economic approach is used to evaluate the resources to determine the best use of wetland resources and should be emphasized in policy development planning. This approach is to prevent imbalance in the allocation of resources and welfare benefits. A case study was conducted in 2016 to assess the economic value of wetland ecosystem services at Pulau Kukup National Parks (PKNP). This study has applied dichotomous choice survey design Contingent Valuation Method (CVM) to investigate empirically the willingness-to-pay (WTP) by the public. The study interviewed 400 household respondents at Pontian, Johor. Analysis showed 81% of household interviewed were willing to contribute to the Wetland Conservation Trust Fund. The results also indicated that on average a household was willing to pay RM87 annually. By taking into account 21,664 households in Pontian district in 2016, public’s contribution to conserves wetland ecosystem at PKNP was calculated to be RM1, 884,334. From the public’s interest to contribute to the conservation of wetland ecosystem services at PKNP, it indicates that more concerted effort is needed by both the federal and state governments to conserve and rehabilitate the mangrove ecosystem in Malaysia.

Keywords: environmental economy, economic valuation, choice experiment, Pulau Kukup national parks

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Authors: Purva Khurana

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Traditional textile crafts are universally found to have been significantly impeded by the uprise of innovative technologies, but sustained human endeavor, in sync with dynamic market nuances, holds key to these otherwise getting fast-extinct marvels. The metamorphosis of such art-forms into niche markets pre-supposes sharp concentration on adaptability. The author has concentrated on the ancient handicraft of Ikat in Andhra Pradesh (India), a manifestation of their cultural heritage and esoteric cottage industry, so very intrinsic to the development and support of local economy and identity. Like any other traditional practice, ikat weaving has been subjected to the challenges of modernization. However, owing to its unique character, personalize production and adaptability, both of material and process, ikat weaving has stood the test of time by way of judiciously embellishing innovation with contemporary taste. To survive as a living craft as also to justify its role as a universal language of aesthetic sensibility, it is imperative that ikat tradition should lend itself continuous process of experiments, change and growth. Besides, the instant paper aims to examine the contours of ikat production process from its pure form, to more fashion and market oriented production, with upgraded process, material and tools. Over the time, it has adapted well to new style-paradigms, duly matching up with the latest fashion trends, in tandem with the market-sensitivities. Apart, it is an effort to investigate how this craft could respond constructively to the pressure of contemporary technical developments in order to be at cutting edge, while preserving its integrity. In order to approach these issues, the methodology adopted is, conceptual analysis of the craft practices, its unique strength and how they could be used to advance the craft in relation to the emergence of technical developments. The paper summarizes the result of the study carried out by the author on the peculiar advantages of suitably- calibrated vat dyes over natural dyes, in terms of its recycling ability and eco-friendly properties, thus holding definite edge, both in terms of socio-economic as well as environmental concerns.

Keywords: craft, eco-friendly dyes, ikat, metamorphosis

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Authors: Xinlan Zhang, Dandong Ge, Bingying Liu, Haoyang Liang

Abstract:

With the rapid development of technology and urbanization, innovation has become an important driving force for urban development. Since the late 20th Century, a number of cities and regions have emerged in the world with innovation as the main driving force, and many of them are still the most important innovation centers in the world. Based on the perspective of innovation ecosystem theory, this paper compares Silicon Valley in the United States, Cambridge in the United Kingdom, Tsukuba in Japan and Zhongguancun in China to explore the reasons for the success of innovative regions and their respective characteristics, hoping to provide a reference for the development of other innovative cities. The main conclusions of this study are the following; firstly, different countries have different social backgrounds. The development model of innovative regions is closely related to the regional backgrounds. Secondly, the market force and the government power have important significance for the development of the innovation regions. The influence of the government power in the early stage of development is great, and in the latter stage, development is dominated by the market force. In addition, the self-organizing ability of the region has a great impact on the innovation ability of the region. Strong self-organizing ability is conducive to the development of innovation economy.

Keywords: contrastive study, development model, innovation ecosystem, innovative regions

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Authors: Mahdi Karazmodeh, Pooyan Jafari

Abstract:

One of the most interesting topics in finance is the relation between stock prices and exchange rates. During the past decades different stock markets in different countries have been the subject of study for researches. The volatilities of exchange rates and its effect on stock prices during the past 10 years have continued to be an attractive research topic. The subject of this study is one of the most important indices, FTSE 100. 20 firms with the highest market capitalization in 5 different industries are chosen. Firms are included in oil and gas, mining, pharmaceuticals, banking and food related industries. 5 different criteria have been introduced to evaluate the relationship between stock markets and exchange rates. Return of market portfolio, returns on broad index of Sterling are also introduced. The results state that not all firms are sensitive to changes in exchange rates. Furthermore, a Granger Causality test has been run to observe the route of changes between stock prices and foreign exchange rates. The results are consistent, to some level, with the previous studies. However, since the number of firms is not large, it is suggested that a larger number of firms being used to achieve the best results. However results showed that not all firms are affected by foreign exchange rates changes. After testing Granger Causality, this study found out that in some industries (oil and gas, pharmaceuticals), changes in foreign exchange rate will not cause any changes in stock prices (or vice versa), however, in banking sector the situation was different. This industry showed more reaction to these changes. The results are similar to the ones with Richards and Noel, where a variety of firms in different industries were evaluated.

Keywords: stock prices, foreign exchange rate, exchange rate exposure, Granger Causality

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Authors: Rachael Olatoun Okunuga

Abstract:

Developing young people’s employability is a key policy issue for ensuring their successful transition to the labour market and their access to career oriented employment. The youths of today irrespective of their gender need to acquire the knowledge, skills and attitudes that will enable them to create or find jobs as well as cope with unpredictable labour market changes throughout their working lives. In a study carried out to determine the influence of gender on job-competencies requirements of chemical-based industries and undergraduate-competencies acquisition by chemists working in the industries, all chemistry graduates working in twenty (20) chemical-based industries that were randomly selected from six sectors of chemical-based industries in Lagos and Ogun States of Nigeria were administered with Job-competencies required and undergraduate-competencies acquired assessment questionnaire. The data were analysed using means and independent sample t-test. The findings revealed that the population of female chemists working in chemical-based industries is low compared with the number of male chemists; furthermore, job-competencies requirements are found not to be gender sensitive while there is no significant difference in undergraduate-competencies acquisition of male and female chemists. This suggests that females should be given the same opportunity of employment in chemical-based industries as their male counterparts. The study also revealed the level of acquisition of undergraduate competencies as related to the needs of chemical-based industries.

Keywords: knowledge, skill, attitude, acquired, required, employability

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Authors: Ali Kazemi

Abstract:

Those within the volatile and interconnected international economic markets, appropriately predicting market trends, hold substantial fees for traders and financial establishments. Traditional device mastering strategies have made full-size strides in forecasting marketplace movements; however, monetary data's complicated and networked nature calls for extra sophisticated processes. This observation offers a groundbreaking method for monetary marketplace prediction that leverages the synergistic capability of Graph Convolutional Networks (GCNs) and Long Short-Term Memory (LSTM) networks. Our suggested algorithm is meticulously designed to forecast the traits of inventory market indices and cryptocurrency costs, utilizing a comprehensive dataset spanning from January 1, 2015, to December 31, 2023. This era, marked by sizable volatility and transformation in financial markets, affords a solid basis for schooling and checking out our predictive version. Our algorithm integrates diverse facts to construct a dynamic economic graph that correctly reflects market intricacies. We meticulously collect opening, closing, and high and low costs daily for key inventory marketplace indices (e.g., S&P 500, NASDAQ) and widespread cryptocurrencies (e.g., Bitcoin, Ethereum), ensuring a holistic view of marketplace traits. Daily trading volumes are also incorporated to seize marketplace pastime and liquidity, providing critical insights into the market's shopping for and selling dynamics. Furthermore, recognizing the profound influence of the monetary surroundings on financial markets, we integrate critical macroeconomic signs with hobby fees, inflation rates, GDP increase, and unemployment costs into our model. Our GCN algorithm is adept at learning the relational patterns amongst specific financial devices represented as nodes in a comprehensive market graph. Edges in this graph encapsulate the relationships based totally on co-movement styles and sentiment correlations, enabling our version to grasp the complicated community of influences governing marketplace moves. Complementing this, our LSTM algorithm is trained on sequences of the spatial-temporal illustration discovered through the GCN, enriched with historic fee and extent records. This lets the LSTM seize and expect temporal marketplace developments accurately. Inside the complete assessment of our GCN-LSTM algorithm across the inventory marketplace and cryptocurrency datasets, the version confirmed advanced predictive accuracy and profitability compared to conventional and opportunity machine learning to know benchmarks. Specifically, the model performed a Mean Absolute Error (MAE) of 0.85%, indicating high precision in predicting day-by-day charge movements. The RMSE was recorded at 1.2%, underscoring the model's effectiveness in minimizing tremendous prediction mistakes, which is vital in volatile markets. Furthermore, when assessing the model's predictive performance on directional market movements, it achieved an accuracy rate of 78%, significantly outperforming the benchmark models, averaging an accuracy of 65%. This high degree of accuracy is instrumental for techniques that predict the course of price moves. This study showcases the efficacy of mixing graph-based totally and sequential deep learning knowledge in economic marketplace prediction and highlights the fee of a comprehensive, records-pushed evaluation framework. Our findings promise to revolutionize investment techniques and hazard management practices, offering investors and economic analysts a powerful device to navigate the complexities of cutting-edge economic markets.

Keywords: financial market prediction, graph convolutional networks (GCNs), long short-term memory (LSTM), cryptocurrency forecasting

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Authors: Emiljan Karma

Abstract:

One of the major problems of the present is young people who are not concerned with employment, education, or training (NEETs). Unfortunately, this group of people in Albania is a considerable part of working-age people, and despite the measures taken, they remain a major problem. NEETs in Albania are very heterogeneous. This is since youth unemployment and inactivity rate are at a very high level (Albania has the highest NEET rate among EU candidates/potential candidates’ countries and EU countries); the high level of NEET rate in Albania means that government agencies responsible for labour market regulation and other social actors interested in the phenomenon (representatives of employees, representatives of employers, non-governmental organizations, etc.) did not effectively materialize the policies in the field of youth employment promotion. The National Agency for Employment and Skills (NAES) delivers measures specifically designed to target unemployed youth, being the key stakeholder in the implementation of employment policies and skills development in Albania. In the context of identifying and assisting NEETs, this role becomes even stronger. The experience of different EU countries (e.g., Youth Guarantee) indicates that there are different policy-making structures and various outreach mechanisms for constraining the youth NEET phenomenon. The purpose of this research is to highlight: (1) The identification of NEETs feature in Albania; (2) The identification of tailored and efficient outreach mechanisms to assist vulnerable NEETs; (3) The fundamental importance of stakeholders’ partnership at central and regional level.

Keywords: labor market, NEETs, non-registered NEETs, unemployment

Procedia PDF Downloads 250