Search results for: market research

Authors: Anandkumar Rshindhe

Abstract:

Patents are considered as good monopoly in India. It is a mechanism by which the inventor is encouraged to do invention and also to make available to the society at large with a new useful technology. Patent system does not provide any protection to the invention itself but to the claims (rights) which the patentee has identified in relation to his invention. Thus the patentee is granted monopoly to the extent of his recognition of his own rights in the form of utilities and all other utilities of invention are for the public. Thus we find both benefit to the inventor and the public at large that is the ultimate consumer. But developing any such technology is not free of cost. Inventors do a lot of investment in the coming out with a new technologies. One such example if of Pharmaceutical industries. These pharmaceutical Industries do lot of research and invest lot of money, time and labour in coming out with these invention. Once invention is done or process identified, in order to protect it, inventors approach Patent system to protect their rights in the form of claim over invention. The patent system takes its own time in giving recognition to the invention as patent. Even after the grant of patent the pharmaceutical companies need to comply with many other legal formalities to launch it as a drug (medicine) in market. Thus major portion in patent term is unproductive to patentee and whatever limited period the patentee gets would be not sufficient to recover the cost involved in invention and as a result price of patented product is raised very much, just to recover the cost of invent. This is ultimately a burden on consumer who is paying more only because the legislature has failed to provide for the delay and loss caused to patentee. This problem can be effectively remedied if Patent Term extension is done. Due to patent term extension, the inventor gets some more time in recovering the cost of invention. Thus the end product is much more cheaper compared to non patent term extension.The basic question here arises is that when the patent period granted to a patentee is only 20 years and out of which a major portion is spent in complying with necessary legal formalities before making the medicine available in market, does the company with the limited period of monopoly recover its investment made for doing research. Further the Indian patent Act has certain provisions making it mandatory on the part of patentee to make its patented invention at reasonable affordable price in India. In the light of above questions whether extending the term of patent would be a proper solution and a necessary requirement to protect the interest of patentee as well as the ultimate consumer. The basic objective of this paper would be to check the implications of Extending the Patent term on Indian Consumers. Whether it provides the benefits to the patentee, consumer or a hardship to the Generic industry and consumer.

Keywords: patent term extention, consumer interest, generic drug industry, pharmaceutical industries

Procedia PDF Downloads 437

Authors: Lois Cheung

Abstract:

This article examines the impact of League Tables on non-elite universities in the English higher education system. The purpose of this study is to explore the use of rankings in strategic planning by low-ranked universities in this highly competitive higher education market. A sample of non-elite universities was selected for a content analysis based on the measures used by The Guardian rankings. Interestingly, these universities care about their rankings within a single national system. The content analysis appears to be an effective approach to investigating the presence of such influences. It is particularly noteworthy that all sampled universities use these measure terminologies in their strategic plans, missions and news coverage on their institutional web-pages. This analysis may be an example of the key challenges that many low-ranking universities in England are probably facing in the highly competitive and diversified higher education market. These universities use rankings to communicate with their stakeholders, mainly students, in order to fill places to secure their major source of funding. The study concludes with comments on the likely effects of the rankings paradigm in undermining the contributions of non-elite universities.

Keywords: League tables, measures, post-1992 universities, ranking, strategy

Procedia PDF Downloads 170

Authors: Enas R. Shouman

Abstract:

Economic development with population growth is leading to a continuous increase in energy demand. At the same time, growing global concern for the environment is driving to decrease the use of conventional energy sources and to increase the use of renewable energy sources. The objective of this study is to present the market trends of solar energy photovoltaic technology over the world and to represent economics methods for PV financial analyzes on the basis of expectations for the expansion of PV in many applications. In the course of this study, detailed information about the current PV market was gathered and analyzed to find factors influencing the penetration of PV energy. The paper methodology depended on five relevant economic financial analysis methods that are often used for investment decisions maker. These methods are payback analysis, net benefit analysis, saving-to-investment ratio, adjusted internal rate of return, and life-cycle cost. The results of this study may be considered as a marketing guide that helps diffusion of using PV Energy. The study showed that PV cost is economically reliable. The consumers will pay higher purchase prices for PV system installation but will get lower electricity bill.

Keywords: photovoltaic, financial methods, solar energy, economics, PV panel

Procedia PDF Downloads 94

Authors: Nitish Suvarna, Anjali Awasthi

Abstract:

In an era marked by rapid technological advancements, the integration of Autonomous Vehicles into supply chain networks represents a transformative shift, promising to redefine the paradigms of logistics and transportation. This thesis delves into a comprehensive assessment of the impact of autonomous vehicles on supply chain performance, with a particular focus on network design, operational efficiency, and environmental sustainability. Employing the advanced simulation capabilities of anyLogistix (ALX), the study constructs a digital twin of a conventional supply chain network, encompassing suppliers, production facilities, distribution centers, and customer endpoints. The research methodically integrates Autonomous Vehicles into this intricate network, aiming to unravel the multifaceted effects on transportation logistics including transit times, cost-efficiency, and sustainability. Through simulations and scenarios analysis, the study scrutinizes the operational resilience and adaptability of supply chains in the face of dynamic market conditions and disruptive technologies like Autonomous Vehicles. Furthermore, the thesis undertakes carbon footprint analysis, quantifying the environmental benefits and challenges associated with the adoption of Autonomous Vehicles in supply chain operations. The insights from this research are anticipated to offer a strategic framework for industry stakeholders, guiding the adoption of Autonomous Vehicles to foster a more efficient, responsive, and sustainable supply chain ecosystem. The findings aim to serve as a cornerstone for future research and practical implementations in the realm of intelligent transportation and supply chain management.

Keywords: autonomous vehicle, agri-food supply chain, ALX simulation, anyLogistix

Procedia PDF Downloads 42

Authors: Viral Nagori, Preeti Shroff, Prathana Dodia

Abstract:

The paper presents the study on women entrepreneurship over the last decade in Indian and Global Context. This research study has its basis primarily in the literature review. The research methodology classifies the literature review paper based on different parameters of women entrepreneurship. The literature review relies on research papers in journals, articles in periodicals, and books published on women entrepreneurship. To accomplish this, the criteria included finding the most relevant, recent, and cited studies on women entrepreneurship over the last decade. It aims to evaluate the issues and challenges faced by women entrepreneurs. The finding suggested that there are several common obstacles, which hinders the pathway to success towards being a successful woman entrepreneur. The paper also describes such common obstacles like the level of education, family responsibilities, lack of business information, religious and cultural constraints, limited mobility, exposure, lack of working capital, and more. The in-depth analysis of literature review indicates that despite the numerous barriers, the arrival of social media has played a crucial role in enabling women to start and scale up their enterprises. Further, technology innovation has given them access to have relevant market information, increase reach and network with the customers. It enabled them to achieve work life balance and pursuing entrepreneur in them. The paper also describes the Government and Nongovernmental initiatives for promotion of women entrepreneurship. At the end, the study provides insights into the changing dynamics of women entrepreneurship in the current scenario and future prospects.

Keywords: changing dynamics, government initiatives, literature review, social media, technology innovation, women entrepreneurship

Procedia PDF Downloads 137

Authors: Dalia Kubiliūtė

Abstract:

Lithuania is known as a trusted location for global business institutions, and it attracts investors with it’s competitive environment for financial service providers. Along with the aspiration to offer a strong results-oriented and innovations-driven environment for financial service providers, Lithuanian regulatory authorities consistently implement the European Union's high regulatory standards for financial activities, including sustainability-related disclosures. Since European Union directed its policy towards transition to a climate-neutral, green, competitive, and inclusive economy, additional regulatory requirements for financial market participants are adopted: disclosure of sustainable activities, transparency, prevention of greenwashing, etc. The financial sector is one of the key factors influencing the implementation of sustainability objectives in European Union policies and mitigating the negative effects of climate change –public funds are not enough to make a significant impact on sustainable investments, therefore directing public and private capital to green projects may help to finance the necessary changes. The topic of the study is original and has not yet been widely analyzed in Lithuanian legal discourse. There are used quantitative and qualitative methodologies, logical, systematic, and critical analysis principles; hence the aim of this study is to reveal the problem of the implementation of the regulation on sustainability in the Lithuanian financial sector. Additional regulatory requirements could cause serious changes in financial business operations: additional funds, employees, and time have to be dedicated in order for the companies could implement these regulations. Lack of knowledge and data on how to implement new regulatory requirements towards sustainable reporting causes a lot of uncertainty for financial market participants. And for some companies, it might even be an essential point in terms of business continuity. It is considered that the supervisory authorities should find a balance between financial market needs and legal regulation.

Keywords: financial, legal, regulatory, sustainability

Procedia PDF Downloads 85

Authors: Tien-Hui Chiang

Abstract:

Human capital discourse encourages many countries to expand the capacity of HEIs. Along with this expansion, the higher education system is redefined as a free market and in turn it is privatized and commercialized. However, the state’s role in education is to balance social justice and capital accumulation. This role is further regulated by a specific form of neoliberalism constituted by social contexts. These correlations call for exploring the influence of human capital discourse on interwoven issues, such as the state’s role in education, higher education policy, and employability. Method: According to the perspective of neoliberal governmentality, answers to the above four research questions are likely to be embedded within discourses in documents related to higher education policies. Consequently, this study adopts a qualitative approach by analyzing official documents, including government reports, official statistics, circulars and official statements. Documents were collected and subjected to content analysis, with a particular focus on the period from 2005 to 2021. The technique of content analysis was applied to decode keywords and core concepts of these documents. Findings: Neoliberalism is exerted through human capital discourse in China particularly in the changes in higher education policies moving from quantitative expansion to quality control via employment or employability. Such changes highlight that the principle of “n”eoliberalism is more suitable for illustrating the practice of free market logic in different social contexts. The modifications of neoliberalism adopted by the Chinese government reflect that the state’s mission is to secure social security or the common good, so that public managerialism - in the form of programs for employment, internship and entrepreneurship - is adopted in the name of the public interest and the collective mission. Public managerialism now is not only targeted towards social institutions but the population more generally, incarnated here by college graduates. Its practice is not only to renovate organizational cultures but to activate people’s commitment to national development.

Keywords: employability, higher education expansion, neoliberalism, human capital discourse

Procedia PDF Downloads 60

Authors: Eunsup Daniel Shim, Jooh Lee

Abstract:

The US financial crisis of 2008 and subsequent Global Financial Crisis were considered by many economists the worst financial crisis since the Great Depression of the 1930s. As a results, Dodd-Frank Act has passed and aims '(1) to promote the financial stability of the United States by improving accountability and transparency in the financial system, to end "too big to fail", (2) to protect the American taxpayer by ending bailouts, (3) to protect consumers from abusive financial services practices, and for other purposes.' The enactment of Dodd-Frank Act, in part, intended to significantly influence accountability on executive compensation especially for the financial institutions. This paper empirically investigates the changes in Financial CEOs’ compensation since the Financial Crisis of 2008. Our findings show that in the post- Financial Crisis period financial leverage is significant factor influencing the CEOs’ total compensation. In addition market based performance such as stock price and market-to-book ratio shows significant positive relationship with CEO compensation. This change can be interpreted an attempt to reduce opportunistic behavior of top executives after the financial crisis and the enactment of the Dodd-Frank Act.

Keywords: financial CEO compensation, firm performance, financial crisis of 2008, dodd-frank act

Procedia PDF Downloads 504

Authors: Francesco Paolone

Abstract:

This paper investigates the role of Operating Cash Flow (OCF) and accruals in firm valuation analyzing financial statement information from the largest European companies and evaluating their relation to firm market value. Using a dataset of 500 largest European companies in 2018, the study investigates the relative value-relevance of equity, net income and operating cash flow (OCF). Findings show that the cash flow measure has the same explanatory power and intensity as equity and earnings to explain the market value. This study contributes to the debate on the value relevance of OCF incremental to book value and earnings. It also extends the literature, showing that OCF has information content (value relevance) superior to earnings and book value in the main European markets (Bepari et al., 2013). Finally, the study provides a support that accounting method choice may confuse investors, who have reduced confidence in accounting earnings and book value; in other words, nowadays European investors rely more on cash flows instead of accruals numbers.

Keywords: Cash Flow Statement, Value Relevance, Accounting, Financial Statement Analysis

Procedia PDF Downloads 113

Authors: Fathi Abid, Bilel Kaffel

Abstract:

The olive tree, the olive harvest during winter season and the production of olive oil better known by professionals under the name of the crushing operation have interested institutional traders such as olive-oil offices and private companies such as food industry refining and extracting pomace olive oil as well as export-import public and private companies specializing in olive oil. The major problem facing producers of olive oil each winter campaign, contrary to what is expected, it is not whether the harvest will be good or not but whether the sale price will allow them to cover production costs and achieve a reasonable margin of profit or not. These questions are entirely legitimate if we judge by the importance of the issue and the heavy complexity of the uncertainty and competition made tougher by a high level of indebtedness and the experience and expertise of speculators and producers whose objectives are sometimes conflicting. The aim of this paper is to study the formation mechanism of olive oil prices in order to learn about speculators’ behavior and expectations in the market, how they contribute by their industry knowledge and their financial alliances and the size the financial challenge that may be involved for them to build private information hoses globally to take advantage. The methodology used in this paper is based on two stages, in the first stage we study econometrically the formation mechanisms of olive oil price in order to understand the market participant behavior by implementing ARMA, SARMA, GARCH and stochastic diffusion processes models, the second stage is devoted to prediction purposes, we use a combined wavelet- ANN approach. Our main findings indicate that olive oil market participants interact with each other in a way that they promote stylized facts formation. The unstable participant’s behaviors create the volatility clustering, non-linearity dependent and cyclicity phenomena. By imitating each other in some periods of the campaign, different participants contribute to the fat tails observed in the olive oil price distribution. The best prediction model for the olive oil price is based on a back propagation artificial neural network approach with input information based on wavelet decomposition and recent past history.

Keywords: olive oil price, stylized facts, ARMA model, SARMA model, GARCH model, combined wavelet-artificial neural network, continuous-time stochastic volatility mode

Procedia PDF Downloads 323

Authors: Abdu Umar Adamu, Saidu Akun Abdullahi, Al-Hassan Muhammed, Hamisu Abdu

Abstract:

Leguminous plants such as beans have been considered as a source of protein in this present work. The proximate analysis on beans (Vigna unguiculata) were determined in order to identify the nutritional content as well as presence of some heavy metals accumulation in washed and unwashed beans (white Beans) sold in Kazaure market Jigawa State Nigeria. On the average comparative analysis, the result has indicated that, the Vigna unguiculata had protein content of 61.1%, fibre 4.5%, ash 10.4%, moisture 5%, carbohydrate 15.8% and total lipid 4.9%, therefore it could be suggested that beans has enough nutritional content that helps the people health. The heavy metal analysis of unwashed white beans showed that Fe (17.37 ± 6.71)mg/kg had the highest concentration followed by Zn (6.41 ± 3.09), Cu (5.69 ± 2.42), Cd (0.46 ± 0.65) and Pb (0.57 ± 0.94)mg/kg , while the washed beans shows that Zn (0.11 ± 0.17), Fe (0.01 ± 0.006), Cd (0.02 ± 0.01), Cu (0.03 ± 0.021), Pb (0.01 ± 0.006)mg/kg. The washed white beans are safe for consumption and also the concentration of heavy metal are negligible and of nontoxic effect to human health.

Keywords: white beans, protein, proximate composition, heavy metal

Procedia PDF Downloads 411

Authors: Okike Benjamin, Garba Ejd

Abstract:

Today, it has been observed security of information along the superhighway is often compromised by those who are not authorized to have access to such information. In order to ensure the security of information along the superhighway, such information should be encrypted by some means to conceal the real meaning of the information. There are many encryption techniques out there in the market. However, some of these encryption techniques are often easily decrypted by adversaries. The researcher has decided to develop an encryption technique that may be more difficult to decrypt. This may be achieved by splitting the message to be encrypted into parts and encrypting each part separately and swapping the positions before transmitting the message along the superhighway. The method is termed Merged Irregular Transposition Cipher. Also, the research would determine the complexity level in respect to the number of splits of the message.

Keywords: transposition cipher, merged irregular cipher, encryption, complexity level

Procedia PDF Downloads 325

Authors: Hao-Jun Hong, Jung-Tang Huang

Abstract:

The world is gradually becoming an aging society, and with the lack of laboring forces, this phenomenon is affecting the nation’s economy growth. Although nursing centers are booming in recent years, the lack of medical resources are yet to be resolved, thus creating an innovative wearable medical device could be a vital solution. This research is focused on the design and development of a wearable device which obtains a more precise heart failure measurement than products on the market. The method used by the device is based on the sensor fusion and big data algorithm. From the test result, the modified structure of wearable device can significantly decrease the MA (Motion Artifact) and provide users a more cozy and accurate physical monitor experience.

Keywords: big data, heart failure, motion artifact, sensor fusion, wearable medical device

Procedia PDF Downloads 327

Authors: Aline Valverde Arroteia, Tatiana Gondim do Amaral, Silvio Burrattino Melhado

Abstract:

During the last twenty years, the construction field in Brazil has evolved significantly in response to its market growing and competitiveness. However, this evolving path has faced many obstacles such as cultural barriers and the lack of efforts to achieve quality at the construction site. At the same time, the greatest amount of information generated on the designing or construction phases is lost due to the lack of an effective coordination of these activities. Face this problem, the aim of this research was to implement a French method named PEO which means preparation for building construction (in Portuguese) seeking to understand the design management process and its interface with the building construction phase. The research method applied was qualitative, and it was carried out through two case studies in the city of Goiania, in Goias, Brazil. The research was divided into two stages called pilot study at Company A and implementation of PEO at Company B. After the implementation; the results demonstrated the PEO method's effectiveness and feasibility while a booster on the quality improvement of design management. The analysis showed that the method has a purpose to improve the design and allow the reduction of failures, errors and rework commonly found in the production of buildings. Therefore, it can be concluded that the PEO is feasible to be applied to real estate and building companies. But, companies need to believe in the contribution they can make to the discovery of design failures in conjunction with other stakeholders forming a construction team. The result of PEO can be maximized when adopting the principles of simultaneous engineering and insertion of new computer technologies, which use a three-dimensional model of the building with BIM process.

Keywords: communication, design and construction interface management, preparation for building construction (PEO), proactive coordination (CPA)

Procedia PDF Downloads 144

Authors: Jean Marie Tshimula, Atsushi Togashi

Abstract:

We develop a data-science approach for providing an interactive visualization and predictive models to find insights into the projects' historical data in order for stakeholders understand some unseen opportunities in the African market that might escape them behind the online project portfolio of the African Development Bank. This machine learning-based web application identifies the market trend of the fastest growing economies across the continent as well skyrocketing sectors which have a significant impact on the future of business in Africa. Owing to this, the approach is tailored to predict where the investment needs are the most required. Moreover, we create a corpus that includes the descriptions of over more than 1,200 projects that approximately cover 14 sectors designed for some of 53 African countries. Then, we sift out this large amount of semi-structured data for extracting tiny details susceptible to contain some directions to follow. In the light of the foregoing, we have applied the combination of Latent Dirichlet Allocation and Random Forests at the level of the analysis module of our methodology to highlight the most relevant topics that investors may focus on for investing in Africa.

Keywords: machine learning, topic modeling, natural language processing, big data

Procedia PDF Downloads 157

Authors: Ons Triki, Fathi Abid

Abstract:

Along with the increase in the use of leasing contracts in corporate finance, multiple studies aim to model the credit risk of the lease in order to cover the losses of the lessor of the asset if the lessee goes bankrupt. In the current research paper, a convertible lease contract is elaborated in a continuous time stochastic universe aiming to ensure the financial stability of the firm and quickly recover the losses of the counterparties to the lease in case of default. This work examines the term structure of the lease rates taking into account the credit default risk and the capital structure of the firm. The interaction between the lessee's capital structure and the equilibrium lease rate has been assessed by applying the competitive lease market argument developed by Grenadier (1996) and the endogenous structural default model set forward by Leland and Toft (1996). The cumulative probability of default was calculated by referring to Leland and Toft (1996) and Yildirim and Huan (2006). Additionally, the link between lessee credit risk and lease rate was addressed so as to explore the impact of convertible lease financing on the term structure of the lease rate, the optimal leverage ratio, the cumulative default probability, and the optimal firm value by applying an endogenous conversion threshold. The numerical analysis is suggestive that the duration structure of lease rates increases with the increase in the degree of the market price of risk. The maximal value of the firm decreases with the effect of the optimal leverage ratio. The results are indicative that the cumulative probability of default increases with the maturity of the lease contract if the volatility of the asset service flows is significant. Introducing the convertible lease contract will increase the optimal value of the firm as a function of asset volatility for a high initial service flow level and a conversion ratio close to 1.

Keywords: convertible lease contract, lease rate, credit-risk, capital structure, default probability

Procedia PDF Downloads 64

Authors: Young Kwon Yang, Bo Rang Park, Hyo Eun Lee, Tea Won Kim, Eun Ji Choi, Jin Chul Park

Abstract:

To develop an artificial intelligence based automatic ventilation system, recent research trends were analyzed and analyzed. This research method is as follows. In the field of architecture and window technology, the use of artificial intelligence, the existing study of machine learning model and the theoretical review of the literature were carried out. This paper collected journals such as Journal of Energy and Buildings, Journal of Renewable and Sustainable Energy Reviews, and articles published on Web-sites. The following keywords were searched for articles from 2000 to 2016. We searched for the above keywords mainly in the title, keyword, and abstract. As a result, the global artificial intelligence market is expected to grow at a CAGR of 14.0% from USD127bn in 2015 to USD165bn in 2017. Start-up investments in artificial intelligence increased from the US $ 45 million in 2010 to the US $ 310 million in 2015, and the number of investments increased from 6 to 54. Although AI is making efforts to advance to advanced countries, the level of technology is still in its infant stage. Especially in the field of architecture, artificial intelligence (AI) is very rare. Based on the data of this study, it is expected that the application of artificial intelligence and the application of architectural field will be revitalized through the activation of artificial intelligence in the field of architecture and window.

Keywords: artificial intelligence, window, fine dust, thermal comfort, ventilation system

Procedia PDF Downloads 256

Authors: Bassem Boshra Thabet, Mohammed Ibrahim Elsabagh, Mohammad Adly Talaat

Abstract:

The number of cellular mobile phone users has increased enormously worldwide over the last two decades. Consequently, the monitoring of the performance of the Mobile Network Operators (MNOs) in terms of network coverage and broadband signal strength has become vital for both of the MNOs and regulators. This monitoring helps telecommunications operators and regulators keeping the market playing fair and most beneficial for users. However, the adopted methodologies to facilitate this continuous monitoring process are still problematic regarding cost, effort, and reliability. This paper introduces My Operator Coverage (MOC) system that is using Internet of Things (IoT) concepts and tools to monitor the MNOs performance using a crowd-sourced real-time methodology. MOC produces robust and reliable geographical maps for the user-perceived quality of the MNOs performance. MOC is also meant to enrich the telecommunications regulators with concrete, and up-to-date information that allows for adequate mobile market management strategies as well as appropriate decision making.

Keywords: mobile performance monitoring, crowd-sourced applications, mobile broadband performance, cellular networks monitoring

Procedia PDF Downloads 381

Authors: Kepeng Li

Abstract:

This paper examines the phenomenon of recidivism in the Chinese stock market, emphasizing the significance of mitigating repeat offences within the corporate domain. Using a contingency model and data from Chinese publicly listed companies (1999-2018), the study investigates the impact of underperformance, governance factors, and managerial traits on unethical conduct. The research suggests that persistently unmet economic objectives can foster problem-focused exploration, potentially leading to misconduct. Furthermore, the study considers the unique cultural context of China, where “guanxi” and corruption may influence corporate behavior. It concludes that governance mechanisms play a pivotal role in regulating corporate behavior, underscoring the necessity for enhanced oversight and enforcement of corporate governance standards.

Keywords: recidivism, corporate misbehavior, BTOF, aspiration level, corporate governance, individual characteristics

Procedia PDF Downloads 86

Authors: Anna Czarczynska

Abstract:

Creativity is taken as a requirement for a personal anti-fragile career path in the context of regional competitive advantage in the terms of socio-economics creative environment. At the personal level, the competence and value-based approach to creativity are proposed, is an elaboration of the resource-based view of the group of individuals selected from given country. Entrepreneurial creativity competence (measured by the Schein anchor questionnaire) is based on an independent way of thinking and empowerment presents one aspect of creative capability, however quickly verified by the market, that’s why we treat this as a basic exemplification of average creative attitude combine with the entrepreneurial attitude. This introductory instrument enables further scientific research based on the same group in the context of multi-cultural external creative or the non-creative environment.

Keywords: creativity, value-based approach, entrepreneurship, regional culture

Procedia PDF Downloads 180

Authors: Jaroslav Belás, Anna Chochoľáková, Lenka Gabčová

Abstract:

The aim of this article was to examine and quantify the dependence of additional purchases of banking products from customer loyalty and dependence of bank clients’ loyalty on the customers’ satisfaction. In this context, in our research from 2014, the respondents were divided into satisfied (loyal) and dissatisfied (disloyal) banking clients and their attitudes in the area of loyalty and additional purchases of banking products were compared. The differences in attitudes were examined by means of Pearson statistics. It was found out that satisfied customers compared with those dissatisfied clients significantly more advise their bank to their friends, also they often consider that they would use their bank in the future, they are more resistant to the offers from the other banks as well. Loyal customers are more interested in the services of their own banks when considering investments in the financial market, keep their savings in their own bank, take out a mortgage loan from their own bank and use other banking products and services offered by their own bank as well. According to the results of our research, with the different intensities the loyalty of customers is transforming into a potential purchase of additional banking products. The greatest potential interest of the bank customers was in keeping their own savings in the bank and mortgage loans. The intensity of interest in the purchase of financial investments and other products was relatively low.

Keywords: commercial bank, bank customers’ satisfaction, loyalty of bank clients, additional purchases of banking products and services

Procedia PDF Downloads 461

Authors: Agnieszka Zalejska-Jonsson

Abstract:

The Swedish Green Building Council (SGBC) was established in 2009. Since then, over 1000 buildings have been certified, of which approximately 600 are newly produced and 340 are residential buildings. During that time, approximately 2000 apartment buildings have been built in Sweden. This means that over a five- year period 17% of residential buildings have been certified according to the environmental building scheme. The certification of the building is not a guarantee of environmental progress but it gives us an indication of the extent of the progress. The overarching aim of this study is to investigate the factors behind the relatively slow evolution of the green residential housing market in Sweden. The intention is to examine stated willingness to pay (WTP) for green and low energy apartments, and to explore which factors have a significant effect on stated WTP among apartment owners. A green building was defined as a building certified according to the environmental scheme and a low energy building as a building designed and constructed with high energy efficiency goals. Data for this study were collected through a survey conducted among occupants of comparable apartment buildings: two green and one conventional. The total number of received responses was 429: green A (N=160), response rate 42%; green B (N=138) response rate 35%, and conventional (N=131) response rate 43%. The study applied a quasi-experimental method. Survey responses regarding factors affecting purchase of apartment, stated WTP and environmental literacy have been analysed using descriptive statistics, the Mann–Whitney (rank sum) test and logistic models. Comments received from respondents have been used for further interpretation of results. Results indicate that environmental education has a significant effect on stated WTP. Occupants who declared higher WTP showed a higher level of environmental literacy and indicated that energy efficiency was one of the important factors that affected their decision to buy an apartment. Generally, the respondents were more likely to pay more for low energy buildings than for green buildings. This is to a great extent a consequence of rational customer behaviour and difficulty in apprehending the meaning of green building certification. The analysis shows that people living in green buildings indicate higher WTP for both green and low energy buildings, the difference being statistically significant. It is concluded that growth in the green housing market in Sweden might be achieved if policymakers and developers engage in active education in the environmental labelling system. The demand for green buildings is more likely to increase when the difference between green and conventional buildings is easily understood and information is not only delivered by the estate agent, but is part of an environmental education programme.

Keywords: consumer, environmental education, housing market, stated WTP, Sweden

Procedia PDF Downloads 226

Authors: Abdur Raheem, Ado Yakub

Abstract:

Urban violence in the form of ethnic and religious conflicts have been on the increase in many African cities in the recent years of which most of them are the result of intense and bitter competition for political power, the control of limited economic, social and environmental resources. In Nigeria, the emergence of the Boko Haram insurgency in most parts of the north eastern parts have ignited violence, bloodshed, refuge exodus and internal migration. Not only do the persistent attacks of the sect create widespread insecurity and fear, it has also stifled normal processes of trade and investments most especially real property investment which is acclaimed to accelerate the economic cycle, thus the need to evolve strategies for an improved property market in such areas. This paper, therefore, examines the impact of these social crisis on effective and efficient utilization of real properties as a resource towards the development of the economy, using a descriptive analysis approach where particular emphasis was based on trends in residential housing values; volume of estimated property transactions and real estate investment decisions by affected individuals. Findings indicate that social crisis in the affected areas have been a clog on the wheels of property development and investment as properties worth hundreds of millions have been destroyed thereby having great impact on property values. Based on these findings, recommendations were made to include the need to strategically continue investing in property during such times, the need for Nigerian government to establish an active conflict monitoring and management unit for prompt response, encourage community and neighbourhood policing to ameliorate security challenges in Nigeria.

Keywords: social crisis, property market, economy, resources, north-eastern Nigeria

Procedia PDF Downloads 305

Authors: Freda E. Asem, R. D. Osei, D. B. Sarpong, J. K. Kuwornu

Abstract:

While market access remains important, Ghana’s major handicap is her inability to sustain export growth on the open market. The causes of these could be attributed to inefficiency, lack of competitiveness and supply-side constraints. This study examined the challenges faced by smallholder horticultural farmers and how it relates to their technical efficiency. The study employed mixed methods to address the problem. Using the Millennium Development Account (MiDA) Farmer Based Organization survey data on farm households in 23 districts in Ghana, the study assessed the technical efficiency of smallholder horticultural farmers (taking into account production risks). Focus group discussions (FGDs) and in-depth interviews were also conducted on smallholder mango, pineapple, and chilli pepper farmers selected districts in Ghana. Results revealed the constraints faced by smallholder horticultural farmers to be marketing, training, funding, accessibility, and affordability of inputs, land, access to credit, and the disconnect between themselves and policy makers and implementers.

Keywords: productivity, gender, policy, efficiency, constraints

Procedia PDF Downloads 465

Authors: Muhammad Bilal Mustafa, Javed Hussain, Simeon Babatunde

Abstract:

The Covid-19 pandemic has exposed the vulnerabilities of countless organisations beyond their size, type, and location. However, some groups and sectors are disproportionally get impacted by the pandemic. In the context of the UK, ethnic Small and Medium Enterprises (SMEs) turn out to be the most precarious group among all private sectors. Many ethnic SMEs shut down their business operations during a pandemic. A large portion of Black, Asian and minority ethnic (BAME) owners have huge concerns regarding their business’ survival and resilience. The current UK-centric studies have focused on the large business population, and there is a gap in ethnic SMEs and how they get affected by the Covid-19 pandemic. Moreover, there is a need to further knowledge and academic research to investigate the fundamental factors that could strengthen the resilience of ethnic SMEs as well as contribute to long-term sustainability. Therefore, this study aims to capture the effect of the Covid-19 pandemic on ethnic SMEs in the UK and assess the survival measures taken by ethnic SMEs during Covid-19. Besides, this study adopts a dynamic capabilities perspective that how firms' specific capabilities enable ethnic SMEs to exploit entrepreneurial opportunities during the Covid-19 pandemic. Finally, this research will help ethnic SMEs to develop vigorous resilience to address future external shocks and market uncertainties.

Keywords: COVID-19 pandemic, ethnic minority SMEs, entrepreneurial resilience, dynamic capabilities, sustainability

Procedia PDF Downloads 143

Authors: Andrew Couch, Nicholas Loyd, Nathan Tenhundfeld

Abstract:

The rapid emergence of technology observably induces disruptive effects that carry implications for internal organizational dynamics as well as external market opportunities, strategic pressures, and threats. An examination of the historical tendencies of technology innovation shows that the body of managerial knowledge for addressing such disruption is underdeveloped. Fundamentally speaking, the impacts of innovation are unique and situationally oriented. Hence, the appropriate managerial response becomes a complex function that depends on the nature of the emerging technology, the posturing of internal organizational dynamics, the rate of technological growth, and much more. This research considers a particular case of mismanagement, the BP Texas City Refinery explosion of 2005, that carries notable discrepancies on the basis of human factors principles. Moreover, this research considers the modern technological climate (shaped by Industry 4.0 technologies) and seeks to arrive at an appropriate conceptual lens by which human factors principles and Industry 4.0 may be favorably integrated. In this manner, the careful examination of these phenomena helps to better support the sustainment of human factors principles despite the disruptive impacts that are imparted by technological innovation. In essence, human factors considerations are assessed through the application of principles that stem from usability engineering, the Swiss Cheese Model of accident causation, human-automation interaction, signal detection theory, alarm design, and other factors. Notably, this stream of research supports a broader framework in seeking to guide organizations amid the uncertainties of Industry 4.0 to capture higher levels of adoption, implementation, and transparency.

Keywords: Industry 4.0, human factors engineering, management, case study

Procedia PDF Downloads 47

Authors: Gabriela Chmelikova, Ludmila Hurajova, Pavol Bozek

Abstract:

Current era has brought hand in hand with the vast and fast development of technologies enormous pressure on individuals to keep being well - oriented in their professional fields. Almost all projects in the real world require an interdisciplinary perspective. These days we notice some cases when students face that real requirements for jobs are in contrast to the knowledge and competences they gained at universities. Interlacing labor market and university programs is a big issue these days. Sometimes it seems that higher education only “chases” reality. Simulation-based learning can support students’ touch with real demand on competences and knowledge of job world. The contribution provided a descriptive study of some cases of simulation-based teaching environment in different courses at STU MTF in Trnava and discussed how students and teachers perceive this model of teaching-learning approach. Finally, some recommendations are proposed how to enhance closer relationship between academic world and labor market.

Keywords: interdisciplinary approach, simulation-based learning, students' job readiness, teaching environment in higher education

Procedia PDF Downloads 257

Authors: Y. Smirlis, G. Koronakos, S. Plitsos

Abstract:

Shipbrokers assist the ship companies in chartering or selling and buying vessels, acting as intermediates between them and the market. They facilitate deals, providing their expertise, negotiating skills, and knowledge about ship market bargains. Their role is very important as it affects the profitability and market position of a shipping company. Due to their significant contribution, the shipping companies have to employ systematic procedures to evaluate the shipbrokers’ services in order to select the best and, consequently, to achieve the best deals. Towards this, in this paper, we consider shipbrokers as financial service providers, and we formulate the problem of evaluating and selecting shipbrokers’ services as a multi-criteria decision making (MCDM) procedure. The proposed methodology comprises a first normalization step to adjust different scales and orientations of the criteria and a second step that includes the mathematical model to evaluate the performance of the shipbrokers’ services involved in the assessment. The criteria along which the shipbrokers are assessed may refer to their size and reputation, the potential efficiency of the services, the terms and conditions imposed, the expenses (e.g., commission – brokerage), the expected time to accomplish a chartering or selling/buying task, etc. and according to our modelling approach these criteria may be assigned different importance. The mathematical programming model performs a comparative assessment and estimates for the shipbrokers involved in the evaluation, a relative score that ranks the shipbrokers in terms of their potential performance. To illustrate the proposed methodology, we present a case study in which a shipping company evaluates and selects the most suitable among a number of sale and purchase (S&P) brokers. Acknowledgment: This study is supported by the OptiShip project, implemented within the framework of the National Recovery Plan and Resilience “Greece 2.0” and funded by the European Union – NextGenerationEU programme.

Keywords: shipbrokers, multi-criteria decision making, mathematical programming, service-provider selection

Procedia PDF Downloads 66

Authors: Asli Yagmur Akbulut

Abstract:

Despite a robust and growing job market and lucrative salaries, there is a global shortage of Information Technology (IT) professionals. To make matters worse, women continue to be underrepresented in the IT workforce and among IT degree holders. In today’s knowledge based economy and society, it is extremely important to increase the presence of women in the IT field. In order to do so, it is necessary to reduce entry barriers and attract more women to pursue degrees in various IT fields including the field of Management Information Systems (MIS). Even though MIS is considered to have a more feminine nature, women still tend to avoid majoring in this field. Unfortunately, there is a lack of research that investigates the specific factors that may deter women from pursuing a degree in MIS. To address this research gap, this study examined a set of key environmental barriers that might prevent women from pursuing an MIS degree and explored whether there were any gender differences between female and male students in terms of these key barriers. Based on a survey of 280 students enrolled in an introductory level MIS course, the study empirically confirmed that there were significant differences between male and female students in terms of the key contextual barriers perceived. Female students demonstrated major concerns about gender discrimination related barriers, whereas male students were more concerned about negative social influences. Both male and female students were equally concerned about not being able to fit in well with other MIS majors. The findings have important implications for MIS programs, as the information gained can be used to design and implement specific intervention strategies to overcome the barriers and attract larger pools of women to the MIS discipline. The paper concludes with a discussion of the findings, implications, and future research directions.

Keywords: gender differences, MIS major, underrepresentation, women in IT

Procedia PDF Downloads 238

Authors: Tanzeel Ur Rehman Khan, Franz Josef Behr, Phillip Davis

Abstract:

Open source geospatial certifications are needed in geospatial technology education and industry sector. In parallel with proprietary software, free and open source software solutions become important in geospatial technology research and play an important role for the growth of the geospatial industry. ESRI, GISCI (GIS Certification Institute), ASPRS (American Society of Photogrammetry and remote sensing), and Meta spatial are offering certifications on proprietary and open source software. These are portfolio and competency based certifications depending on GIS Body of Knowledge (Bok). The analysis of these certification approaches might lead to the discovery of some gaps in them and will open a new way to develop certifications related to the geospatial open source (OS). This new certification will investigate the different geospatial competencies according to open source tools that help to identify geospatial professionals and strengthen the geospatial academic content. The goal of this research is to introduce a geospatial certification model based on geospatial technology competency model (GTCM).The developed certification will not only incorporate the importance of geospatial education and production of the geospatial competency-based workforce in universities and companies (private or public) as well as describe open source solutions with tools and technology. Job analysis, market analysis, survey analysis of this certification opens a new horizon for business as well.

Keywords: geospatial certification, open source, geospatial technology competency model, geoscience

Procedia PDF Downloads 537