Search results for: capital market financing
3761 Employment Opportunities in Automobile Sector-Indian Scenario
Authors: A. K. Sarathe, N. P. Patidar
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The Indian automobile sector is comprised of independent manufacturers and joint ventures with their foreign counterpart companies by making use of the Foreign Direct Investment policy of the Government of India. These manufacturers started capturing the hearts of Indian customers with their choice of technological and innovative product features, with quality and reliability. This transformed the automobile scene from a “sellers market to buyers market”. The potential benefits from the auto sector have been recognized by the planners, managers, and administrators of both the sectors –government and private. Generation of employment for the readily available technical workforce has been achieved not only through the manufacturers, but also through the growing ancillaries and service providers of the auto industries. The main purpose of this paper is to come up with the identification of possible working areas and associated job functions of mechanical and automobile diploma holders having employment opportunities in auto sector of India.Keywords: automobile sector, diploma holder, employment, job description
Procedia PDF Downloads 4213760 Virtual Prototyping of LED Chip Scale Packaging Using Computational Fluid Dynamic and Finite Element Method
Authors: R. C. Law, Shirley Kang, T. Y. Hin, M. Z. Abdullah
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LED technology has been evolving aggressively in recent years from incandescent bulb during older days to as small as chip scale package. It will continue to stay bright in future. As such, there is tremendous pressure to stay competitive in the market by optimizing products to next level of performance and reliability with the shortest time to market. This changes the conventional way of product design and development to virtual prototyping by means of Computer Aided Engineering (CAE). It comprises of the deployment of Finite Element Method (FEM) and Computational Fluid Dynamic (CFD). FEM accelerates the investigation for early detection of failures such as crack, improve the thermal performance of system and enhance solder joint reliability. CFD helps to simulate the flow pattern of molding material as a function of different temperature, molding parameters settings to evaluate failures like voids and displacement. This paper will briefly discuss the procedures and applications of FEM in thermal stress, solder joint reliability and CFD of compression molding in LED CSP. Integration of virtual prototyping in product development had greatly reduced the time to market. Many successful achievements with minimized number of evaluation iterations required in the scope of material, process setting, and package architecture variant have been materialized with this approach.Keywords: LED, chip scale packaging (CSP), computational fluid dynamic (CFD), virtual prototyping
Procedia PDF Downloads 2863759 Comparing Forecasting Performances of the Bass Diffusion Model and Time Series Methods for Sales of Electric Vehicles
Authors: Andreas Gohs, Reinhold Kosfeld
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This study should be of interest for practitioners who want to predict precisely the sales numbers of vehicles equipped with an innovative propulsion technology as well as for researchers interested in applied (regional) time series analysis. The study is based on the numbers of new registrations of pure electric and hybrid cars. Methods of time series analysis like ARIMA are compared with the Bass Diffusion-model concerning their forecasting performances for new registrations in Germany at the national and federal state levels. Especially it is investigated if the additional information content from regional data increases the forecasting accuracy for the national level by adding predictions for the federal states. Results of parameters of the Bass Diffusion Model estimated for Germany and its sixteen federal states are reported. While the focus of this research is on the German market, estimation results are also provided for selected European and other countries. Concerning Bass-parameters and forecasting performances, we get very different results for Germany's federal states and the member states of the European Union. This corresponds to differences across the EU-member states in the adoption process of this innovative technology. Concerning the German market, the adoption is rather proceeded in southern Germany and stays behind in Eastern Germany except for Berlin.Keywords: bass diffusion model, electric vehicles, forecasting performance, market diffusion
Procedia PDF Downloads 1653758 Research the Counseling of Taichung Taiwan's 10 Creative Zones
Authors: Feng Shih-Jen, Chiang Yi-Hua, Yang Min-Chih
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After going through mass production and contract manufacturing phases, under the global consumption trend, Taiwan’s traditional industry has turned to creative design, research and development to gain recognition in the consumer market, build competitiveness in the global market and further promote the products from Taiwan’s traditional industry. Taichung City is rich in cultural creative resources, outperforming other counties/cities in originality, creative talents, cultural taste, art/culture participation and global marketing. As the result this has created a diversified and vibrant cultural market in Taichung, giving Taichung the highest potential as a cultural creative city. This research, through the project by Taichung Cultural Creative Industry Promotion Office, has built an exchange platform for the cultural creative industry in central Taiwan. The platform will promote exchanges of creative ideas in the cultural creative industry in Taiwan as well as industrial transformation and brings more value for the industry. This study also proposes the idea of “Taichung Cultural Creative Exhibition” Therefore, this study was conducted in Taiwan, Taichung 10 Creative Zone Exhibition, which is divided into four stages counseling. Respectively, of the first order: the cultural creative Zone specialty shops offer; The second stage is the industrial settlement discussions and counseling workshops in the ground; The third stage of consultation for the recruitment of the cultural creative businesses separate estate; The fourth stage is the story of the build cultural and creative industry. Hope through periodic counseling, handling Taichung 10 Creative Zone Exhibition.Keywords: cultural creative industry, counseling, Taichung, Taiwan's creative zones
Procedia PDF Downloads 4963757 An Analysis of Human Resource Management Policies for Constructing Employer Brands in the Logistics Sector
Authors: Müberra Yüksel, Ömer Faruk Görçün
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The purpose of the present study is to investigate the role of strategic human resource management (SHRM) in constructing "employer branding" in logistics. Prior research does not focus on internal stakeholders, that is, employees. Despite the fact that logistic sector has become customer-oriented, the focus is solely on service quality as the unique aspect of logistic companies for competitive advantage. With an increasing interest lately in internal marketing of the employer brand, the emphasis is on the value that human capital brings to the firm which cannot be imitated. `Employer branding` has been the application of branding and relationship marketing principles for competitive advantage in SHRM. Employer branding is an organizing framework for human resource managers since it represents an organization’s efforts to promote, both within and outside, a coherent view of what makes the firm different and desirable as an employer, i.e., the distinct “employer brand personality” and "employee value propositions" (EVP) offered. The presumption of employer branding enhanced by internal marketing is to make customer-conscious employees to handle services better by being aligned with business mission and goals. Starting from internal customers and analyzing the gaps of EVP by using analytical hierarchy process methodology (AHP) and inquiring whether these brand values are communicated and conceived well may be the initial steps in our proposal for employer branding in logistics sector. This empirical study aims to fill this research gap within the context of an emergent market- Turkey, which is located at a hub of transportation and logistics.Keywords: Strategic Human Resource Management (SHRM), employer branding, Employee Value Propositions (EVP), Analytical Hierarchy Process (AHP), logistics
Procedia PDF Downloads 3423756 Development of Pasta Production by Using of Hard and Soft Domestic Sorts of Wheat
Authors: A.N. Zhilkaidarov, G.K. Iskakova, V.Y. Chernyh
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High-qualified and not-expensive products of daily usage have a big demand on food products’ market. Moreover, it is about independent and irreplaceable product as pasta. Pasta is a product, which represents itself the conserved dough from wheat flour made through special milling process. A wide assortment of the product and its pleasant taste properties allow to use pasta products in very different combinations with other food products. Pasta industry of Kazakhstan has large perspectives of development. There are many premises for it, which includes first an importance of pasta as a social product. Due to for its nutritional and energetically value pasta is the part of must have food. Besides that, the pasta production in Kazakhstan has traditional bases, and nowadays the market of this product develops rapidly as in quantity as well as in quality aspects. Moreover, one of the advantages of this branch is an economical aspect – pasta is the product of secondary processing, and therefore price for sailing is much higher as its own costs.Keywords: pasta, new wheat sorts, domesic sorts of wheat, macaronic flour
Procedia PDF Downloads 5253755 A Case-Based Reasoning-Decision Tree Hybrid System for Stock Selection
Authors: Yaojun Wang, Yaoqing Wang
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Stock selection is an important decision-making problem. Many machine learning and data mining technologies are employed to build automatic stock-selection system. A profitable stock-selection system should consider the stock’s investment value and the market timing. In this paper, we present a hybrid system including both engage for stock selection. This system uses a case-based reasoning (CBR) model to execute the stock classification, uses a decision-tree model to help with market timing and stock selection. The experiments show that the performance of this hybrid system is better than that of other techniques regarding to the classification accuracy, the average return and the Sharpe ratio.Keywords: case-based reasoning, decision tree, stock selection, machine learning
Procedia PDF Downloads 4173754 Economic and Ecological Implications in Agricultural Production Within the Strong and Weak Sustainability Framework
Authors: Mauricio Quintero Angel, Andrés A. Duque Nivia, Carlos H. Fajardo Toro
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This paper analyzes two approaches of sustainability, the weak and strong, considering a case of study of oil palm production for an industry of biodegradable detergent. In this case, a company demand the oil palm as the active element for washing and through its trademark aims to supply 10% of the Colombian market of washing powders. Under each approach the economic and ecological implications of the palm oil production and especially the implications for crop management are described. The crop production under the weak sustainability implies plantations, intensive use of agrochemicals and the inclusion of new areas of cultivation as the market grows. Under the strong sustainability the production system is limited by the productive vocation of the ecosystem, so that new approaches and creativity for making viable the nature conservancy and the business development are require.Keywords: agriculture, environmental impacts, oil palm, strong sustainability, weak sustainability
Procedia PDF Downloads 4273753 A Project Screening System for Energy Enterprise Based on Dempster-Shafer Theory
Authors: Woosik Jang, Seung Heon Han, Seung Won Baek
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Natural gas (NG) is an energy resource in a few countries, and most NG producers do business in politically unstable countries. In addition, as 90% of the LNG market is controlled by a small number of international oil companies (IOCs) and national oil companies (NOCs), entry of latecomers into the market is extremely limited. To meet these challenges, project viability needs to be assessed based on limited information from a project screening perspective. However, the early stages of the project have the following difficulties: (1) What are the factors to consider? (2) How many professionals do you need to decide? (3) How to make the best decision with limited information? To address this problem, this study proposes a model for evaluating LNG project viability based on the Dempster-Shafer theory (DST). A total of 11 indicators for analyzing the gas field, reflecting the characteristics of the LNG industry, and 23 indicators for analyzing the market environment, were identified. The proposed model also evaluates the LNG project based on the survey and provides uncertainty of the results based on DST as well as quantified results. Thus, the proposed model is expected to be able to support the decision-making process of the gas field project using quantitative results as a systematic framework, and it was developed as a stand-alone system to improve its usefulness in practice. Consequently, the amount of information and the mathematical approach are expected to improve the quality and opportunity of decision making for LNG projects for enterprises.Keywords: project screen, energy enterprise, decision support system, Dempster-Shafer theory
Procedia PDF Downloads 3403752 Choice Analysis of Ground Access to São Paulo/Guarulhos International Airport Using Adaptive Choice-Based Conjoint Analysis (ACBC)
Authors: Carolina Silva Ansélmo
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Airports are demand-generating poles that affect the flow of traffic around them. The airport access system must be fast, convenient, and adequately planned, considering its potential users. An airport with good ground access conditions can provide the user with a more satisfactory access experience. When several transport options are available, service providers must understand users' preferences and the expected quality of service. The present study focuses on airport access in a comparative scenario between bus, private vehicle, subway, taxi and urban mobility transport applications to São Paulo/Guarulhos International Airport. The objectives are (i) to identify the factors that influence the choice, (ii) to measure Willingness to Pay (WTP), and (iii) to estimate the market share for each modal. The applied method was Adaptive Choice-based Conjoint Analysis (ACBC) technique using Sawtooth Software. Conjoint analysis, rooted in Utility Theory, is a survey technique that quantifies the customer's perceived utility when choosing alternatives. Assessing user preferences provides insights into their priorities for product or service attributes. An additional advantage of conjoint analysis is its requirement for a smaller sample size compared to other methods. Furthermore, ACBC provides valuable insights into consumers' preferences, willingness to pay, and market dynamics, aiding strategic decision-making to provide a better customer experience, pricing, and market segmentation. In the present research, the ACBC questionnaire had the following variables: (i) access time to the boarding point, (ii) comfort in the vehicle, (iii) number of travelers together, (iv) price, (v) supply power, and (vi) type of vehicle. The case study questionnaire reached 213 valid responses considering the scenario of access from the São Paulo city center to São Paulo/Guarulhos International Airport. As a result, the price and the number of travelers are the most relevant attributes for the sample when choosing airport access. The market share of the selection is mainly urban mobility transport applications, followed by buses, private vehicles, taxis and subways.Keywords: adaptive choice-based conjoint analysis, ground access to airport, market share, willingness to pay
Procedia PDF Downloads 773751 Employer Learning, Statistical Discrimination and University Prestige
Authors: Paola Bordon, Breno Braga
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This paper investigates whether firms use university prestige to statistically discriminate among college graduates. The test is based on the employer learning literature which suggests that if firms use a characteristic for statistical discrimination, this variable should become less important for earnings as a worker gains labor market experience. In this framework, we use a regression discontinuity design to estimate a 19% wage premium for recent graduates of two of the most selective universities in Chile. However, we find that this premium decreases by 3 percentage points per year of labor market experience. These results suggest that employers use college selectivity as a signal of workers' quality when they leave school. However, as workers reveal their productivity throughout their careers, they become rewarded based on their true quality rather than the prestige of their college.Keywords: employer learning, statistical discrimination, college returns, college selectivity
Procedia PDF Downloads 5783750 Jeddah’s Hydraulic Protection Systems and the Management of Flood: An Assessment
Authors: Faouzi Ameur, Atef Belhaj Ali
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Located in the South-west of Saudi Arabia, Jeddah is more than a harbor. It is a big city of the Red Sea and the second town of Saudi Arabia, after Riyadh the capital. Jeddah profits from several economic assets due especially to its transit position towards the high sacred places of Islam like Mecca and Medina. During summer, this metropolis is transformed into a political capital and a tourist resort for foreigners and Saudis alike. The city of Jeddah was affected by serious sudden floods; two great ones took place in 2009, and in 2011. The human and material tools were considerable, since these events caused the death to hundreds of people, damaged thousands of buildings built on basins slopes, which, however had the authorizations necessary. To cope with these natural disasters, several urban hydraulic measures were undertaken like building dams and canals to collect surface waters. These urban measures aimed at the protection of inhabitants and belongings against the risks of floods as well as the interception and the drainage of streams. Although these protection measures are important, expensive, and effective, they are no longer enough or effective to cope with the evolution of the natural disasters that the city of Jeddah is constantly exposed to. These protective hydraulic measures did not make it possible to reach risk zero situations. They transferred the damages towards other zones. This paper purports to study the protection network systems in Jeddah and to understand their various impacts during floods on the city and on its inhabitants.Keywords: Jeddah, Saudi Arabia, urbanization, hydraulic protection
Procedia PDF Downloads 2483749 Network Governance and Renewable Energy Transition in Sub-Saharan Africa: Contextual Evidence from Ghana
Authors: Kyere Francis, Sun Dongying, Asante Dennis, Nkrumah Nana Kwame Edmund, Naana Yaa Gyamea Kumah
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With a focus on renewable energy to achieve low-carbon transition objectives, there is a greater demand for effective collaborative strategies for planning, strategic decision mechanisms, and long-term policy designs to steer the transitions. Government agencies, NGOs, the private sector, and individual citizens play an important role in sustainable energy production. In Ghana, however, such collaboration is fragile in the fight against climate change. This current study seeks to re-examine the position or potential of network governance in Ghana's renewable energy transition. The study adopted a qualitative approach and employed semi-structured interviews for data gathering. To explore network governance and low carbon transitions in Ghana, we examine key themes such as political environment and impact, actor cooperation and stakeholder interactions, financing and the transition, market design and renewable energy integration, existing regulation and policy gaps for renewable energy transition, clean cooking accessibility, and affordability. The findings reveal the following; Lack of comprehensive consultations with relevant stakeholders leads to lower acceptance of the policy model and sometimes lack of policy awareness. Again, the unavailability and affordability of renewable energy technologies and access to credit facilities is a significant hurdle to long-term renewable transition. Ghana's renewable energy transitions require strong networking and interaction among the public, private, and non-governmental organizations. The study participants believe that the involvement of relevant energy experts and stakeholders devoid of any political biases is instrumental in accelerating renewable energy transitions, as emphasized in the proposed framework. The study recommends that the national renewable energy transition plan be evident to all stakeholders and political administrators. Such policy may encourage renewable energy investment through stable and fixed lending rates by the financial institutions and build a network with international organizations and corporations. These findings could serve as valuable information for the transition-based energy process, primarily aiming to govern sustainability changes through network governance.Keywords: actors, development, sustainable energy, network governance, renewable energy transition
Procedia PDF Downloads 883748 Investigating the Effective Factors on Product Performance and Prioritizing Them: Case Study of Pars-Khazar Company
Authors: Ebrahim Sabermaash Eshghi, Donna Sandsmark
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Nowadays, successful companies try to create a reliable and unique competitive position in the market. It is important to consider that only choosing and codifying a competitive strategy appropriate with the market conditions does not have any influence on the final performance of the company by itself, but it is the connection and interaction between upstream level strategies and functional level strategies which leads to development of company performance in its operating environment. Given the importance of the subject, this study tries to investigate effective factors on product performance and prioritize them. This study was done with quantitative-qualitative approach (interview and questionnaire). In sum, 103 informed managers and experts of Pars-Khazar Company were investigated in a census. Validity of measure tools was approved through experts’ judgments. Reliability of the tools was also gained through Cronbach's Alpha Coefficient as 0.930 and in sum, validity and reliability of the tools was approved generally. Analysis of collected data was done through Spearman Correlation Test and Friedman Test using SPSS software. The results showed that management of distribution and demand process (0.675), management of Product Pre-test (0.636) and Manufacturing and inventory management(0.628) had the highest correlation with product performance. Prioritization of factors of structure of launching new products based on the average showed that management of volume of launched products and Manufacturing and inventory management had the most importance.Keywords: product performance, home appliances, market, case study
Procedia PDF Downloads 2223747 Cultural Background as Moderator of the Association Between Personal Bonding Social Capital and Well-Being: An Association Study in a Sample of Dutch and Turkish Older Adults in the Netherlands
Authors: Marianne Simons, Sinan Kurt, Marjolein Stefens, Kai Karos, Johan Lataster
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As cultural diversity within older populations in European countries increases, the role of cultural background should be taken account of in aging studies. Bonding social capital (BSC), containing someone’s socio-emotional resources, is recognised as an important ingredient for wellbeing in old age and found to be associated with someone’s cultural background. The current study examined the association between BSC, loneliness and wellbeing in a sample including older Turkish migrants with a collectivistic cultural background and native Dutch older adults, both living in the Netherlands, characterised by an individualistic culture. A sample of 119 Turkish migrants (64.7% male; age 65-87, M(SD)=71.13(5.04) and 124 native Dutch adults (32.3% male, age 65-94, M(SD)= 71.9(5.32) filled out either an online or printed questionnaire measuring BSC, psychological, social and emotional well-being, loneliness and relevant demographic covariates. Regression analysis - including confounders age, gender, level of education, physical health and relationship - showed positive associations between BSC and respectively emotional, social and psychological well-being and a negative association with loneliness in both samples. Moderation analyses showed that these associations were significantly stronger for the Turkish older migrants than for their native peers. Measurement invariance analysis indicated partial metric invariance for the measurement of BSC and loneliness and non-invariance for wellbeing, calling for caution comparing means between samples. The results stress the importance of BSC for wellbeing of older migrants from collectivistic cultures living in individualistic countries. Previous research, shows a trend of older migrants displaying lower levels of BSC as well as associated variables, such as education, physical health, and financial income. This calls for more research of the interplay between demographic and psychosocial factors restraining mental wellbeing of older migrant populations. Measurement invariance analyses further emphasize the importance of taking cultural background into account in positive aging studies.Keywords: positive aging, cultural background, wellbeing, social capital, loneliness
Procedia PDF Downloads 903746 Changing Dynamics of Women Entrepreneurship: A Literature Review of a Decade
Authors: Viral Nagori, Preeti Shroff, Prathana Dodia
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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 1543745 The Research on Human Resource Management Problem of Turkish Fast Food Company
Authors: Mai Maitiaili Tuerdi
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Turkey is one of the countries in which fast food service is growing increasingly in the world. The emergence of KFC and McDonald's to Turkish market is affecting every aspects of local fast-food services. The Turkey's famous catering companies named "Simit Sarayi" and "Güllüoğlu" are famous for accepting the Western fast food management service and skills in order to increase their market share. Also, they have created their unique management skills in this field. In this paper, through empirical and comparative study method we will analyze the famous Turkish local fast-food companies and western human resource management. We will argue how to create and adapt the human resource management while the company is economically and socially growing.Keywords: human resources management, Turkey, fast food, management
Procedia PDF Downloads 3473744 Impact of Behavioral Biases on Indian Investors: Case Analysis of a Mutual Fund Investment Company
Authors: Priyal Motwani, Garvit Goel
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In this study, we have studied and analysed the transaction data of investors of a mutual fund investment company based in India. Based on the data available, we have identified the top four biases that affect the investors of the emerging market economies through regression analysis and three uniquely defined ratios. We found that the four most prominent biases that affected the investment making decisions in India are– Chauffer Knowledge, investors tend to make ambitious decisions about sectors they know little about; Bandwagon effect – the response of the market indices to macroeconomic events are more profound and seem to last longer compared to western markets; base-rate neglect – judgement about stocks are too much based on the most recent development ignoring the long-term fundamentals of the stock; availability bias – lack of proper communication channels of market information lead people to be too reliant on limited information they already have. After segregating the investors into six groups, the results have further been studied to identify a correlation among the demographics, gender and unique cultural identity of the derived groups and the corresponding prevalent biases. On the basis of the results obtained from the derived groups, our study recommends six methods, specific to each group, to educate the investors about the prevalent biases and their role in investment decision making.Keywords: Bandwagon effect, behavioural biases, Chauffeur knowledge, demographics, investor literacy, mutual funds
Procedia PDF Downloads 2303743 Disability Discrimination in Nigeria Employment Market: A Case Study of Nigeria Airspace Management Agency
Authors: Okupe Temitope Oluwaseun
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Purpose: The paper determines the existing position of attitudes to disability in a Nigerian organisation. It further assessed the progress that has been made in relation to employment matters as an indication of the Nigerian employment market. Design/methodology/approach: The paper discusses an investigative study which adopted survey research-based approach involving a Nigerian Management Agency. Findings: The paper finds that, although there have been some steps forward, not much has been done with regard to disability equality in the Nigerian employment market. Lack of education, lack of implementing and enforcing the law, inadequate awareness process and international culture have contributed to the current situation. International culture, in particular, is one of the major attributes to lack of disability equality. For example, in the rural areas, the majority of people believe that disability is a form of witchcraft. This paper argues that these traditions, attitudes, and beliefs make it difficult for an organisation to recruit people with disability. Practical Implications: This paper provides a deeper understanding of how organisations can address attitudes to disability within the workplace in Nigeria. The research findings give a fresher perspective on some of the issues associated with disability in this country. This increased understanding has potential to improve the education and training of staff in this area. Originality/value: A paper which human resources managers in Nigerian organisation and the rest of the world can reflect upon in order to assess their own organisation attitudes to the employment of staff with a disability.Keywords: disability, international culture, Nigeria, attitudes
Procedia PDF Downloads 2563742 Causality between Stock Indices and Cryptocurrencies during the Russia-Ukraine War
Authors: Nidhal Mgadmi, Abdelhafidh Othmani
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This article examines the causal relationship between stock indices and cryptocurrencies during the current war between Russia and Ukraine. The econometric investigation runs from February 24, 2022, to April 12, 2023, focusing on seven stock market indices (S&P500, DAX, CAC40, Nikkei, TSX, MOEX, and PFTS) and seven cryptocurrencies (Bitcoin, Ethereum, Litcoin, Dash, Ripple, DigiByte and XEM). In this article, we try to understand how investors react to fluctuations in financial assets to seek safe havens in cryptocurrencies. We used dynamic causality to detect a possible causal relationship in the short term and seven models to estimate the long-term relationship between cryptocurrencies and financial assets. The causal relationship between financial market indexes and cryptocurrency coins in the short run indicates that three famous cryptocurrencies (BITCOIN, ETHEREUM, RIPPLE) and the two digital assets with minor popularity (XEM, Digibyte) are impacted by the German, Russian, and Ukrainian stock markets. In the long run, we found a positive and significate effect of the American, Canadian, French, and Ukrainian stock market indexes on Bitcoin. Thus, the stability of the traditional financial markets during the current war period can be explained on the one hand by investors’ fears of an unstable business climate, and on the other hand, by speculators’ sentiment towards new electronic products, which are perceived as hedging instruments and a safe haven in the face of the conflict between Ukraine and Russia.Keywords: causality, stock indices, cryptocurrency, war, Russia, Ukraine
Procedia PDF Downloads 663741 Local Energy and Flexibility Markets to Foster Demand Response Services within the Energy Community
Authors: Eduardo Rodrigues, Gisela Mendes, José M. Torres, José E. Sousa
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In the sequence of the liberalisation of the electricity sector a progressive engagement of consumers has been considered and targeted by sector regulatory policies. With the objective of promoting market competition while protecting consumers interests, by transferring some of the upstream benefits to the end users while reaching a fair distribution of system costs, different market models to value consumers’ demand flexibility at the energy community level are envisioned. Local Energy and Flexibility Markets (LEFM) involve stakeholders interested in providing or procure local flexibility for community, services and markets’ value. Under the scope of DOMINOES, a European research project supported by Horizon 2020, the local market concept developed is expected to: • Enable consumers/prosumers empowerment, by allowing them to value their demand flexibility and Distributed Energy Resources (DER); • Value local liquid flexibility to support innovative distribution grid management, e.g., local balancing and congestion management, voltage control and grid restoration; • Ease the wholesale market uptake of DER, namely small-scale flexible loads aggregation as Virtual Power Plants (VPPs), facilitating Demand Response (DR) service provision; • Optimise the management and local sharing of Renewable Energy Sources (RES) in Medium Voltage (MV) and Low Voltage (LV) grids, trough energy transactions within an energy community; • Enhance the development of energy markets through innovative business models, compatible with ongoing policy developments, that promote the easy access of retailers and other service providers to the local markets, allowing them to take advantage of communities’ flexibility to optimise their portfolio and subsequently their participation in external markets. The general concept proposed foresees a flow of market actions, technical validations, subsequent deliveries of energy and/or flexibility and balance settlements. Since the market operation should be dynamic and capable of addressing different requests, either prioritising balancing and prosumer services or system’s operation, direct procurement of flexibility within the local market must also be considered. This paper aims to highlight the research on the definition of suitable DR models to be used by the Distribution System Operator (DSO), in case of technical needs, and by the retailer, mainly for portfolio optimisation and solve unbalances. The models to be proposed and implemented within relevant smart distribution grid and microgrid validation environments, are focused on day-ahead and intraday operation scenarios, for predictive management and near-real-time control respectively under the DSO’s perspective. At local level, the DSO will be able to procure flexibility in advance to tackle different grid constrains (e.g., demand peaks, forecasted voltage and current problems and maintenance works), or during the operating day-to-day, to answer unpredictable constraints (e.g., outages, frequency deviations and voltage problems). Due to the inherent risks of their active market participation retailers may resort to DR models to manage their portfolio, by optimising their market actions and solve unbalances. The interaction among the market actors involved in the DR activation and in flexibility exchange is explained by a set of sequence diagrams for the DR modes of use from the DSO and the energy provider perspectives. • DR for DSO’s predictive management – before the operating day; • DR for DSO’s real-time control – during the operating day; • DR for retailer’s day-ahead operation; • DR for retailer’s intraday operation.Keywords: demand response, energy communities, flexible demand, local energy and flexibility markets
Procedia PDF Downloads 983740 Design an Assessment Model of Research and Development Capabilities with the New Product Development Approach: A Case Study of Iran Khodro Company
Authors: Hamid Hanifi, Adel Azar, Alireza Booshehri
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In order to know about the capability level of R & D units in automotive industry, it is essential that organizations always compare themselves with standard level and higher than themselves so that to be improved continuously. In this research, with respect to the importance of this issue, we have tried to present an assessment model for R & D capabilities having reviewed on new products development in automotive industry of Iran. Iran Khodro Company was selected for the case study. To this purpose, first, having a review on the literature, about 200 indicators effective in R & D capabilities and new products development were extracted. Then, of these numbers, 29 indicators which were more important were selected by industry and academia experts and the questionnaire was distributed among statistical population. Statistical population was consisted of 410 individuals in Iran Khodro Company. We used the 410 questionnaires for exploratory factor analysis and then used the data of 308 questionnaires from the same population randomly for confirmatory factor analysis. The results of exploratory factor analysis led to categorization of dimensions in 9 secondary dimensions. Naming the dimensions was done according to a literature review and the professors’ opinion. Using structural equation modeling and AMOS software, confirmatory factor analysis was conducted and ultimate model with 9 secondary dimensions was confirmed. Meanwhile, 9 secondary dimensions of this research are as follows: 1) Research and design capability, 2) Customer and market capability, 3) Technology capability, 4) Financial resources capability, 5) Organizational chart, 6) Intellectual capital capability, 7) NPD process capability, 8) Managerial capability and 9) Strategy capability.Keywords: research and development, new products development, structural equations, exploratory factor analysis, confirmatory factor analysis
Procedia PDF Downloads 3373739 Corporate Governance and Share Prices: Firm Level Review in Turkey
Authors: Raif Parlakkaya, Ahmet Diken, Erkan Kara
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This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards.Keywords: corporate governance, stock price, performance, panel data analysis
Procedia PDF Downloads 3903738 Economic Evaluation of an Advanced Bioethanol Manufacturing Technology Using Maize as a Feedstock in South Africa
Authors: Ayanda Ndokwana, Stanley Fore
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Industrial prosperity and rapid expansion of human population in South Africa over the past two decades, have increased the use of conventional fossil fuels such as crude oil, coal and natural gas to meet the country’s energy demands. However, the inevitable depletion of fossil fuel reserves, global volatile oil price and large carbon footprint are some of the crucial reasons the South African Government needs to make a considerable investment in the development of the biofuel industry. In South Africa, this industry is still at the introductory stage with no large scale manufacturing plant that has been commissioned yet. Bioethanol is a potential replacement of gasoline which is a fossil fuel that is used in motor vehicles. Using bioethanol for the transport sector as a source of fuel will help Government to save heavy foreign exchange incurred during importation of oil and create many job opportunities in rural farming. In 2007, the South African Government developed the National Biofuels Industrial Strategy in an effort to make provision for support and attract investment in bioethanol production. However, capital investment in the production of bioethanol on a large scale, depends on the sound economic assessment of the available manufacturing technologies. The aim of this study is to evaluate the profitability of an advanced bioethanol manufacturing technology which uses maize as a feedstock in South Africa. The impact of fiber or bran fractionation in this technology causes it to possess a number of merits such as energy efficiency, low capital expenditure, and profitability compared to a conventional dry-mill bioethanol technology. Quantitative techniques will be used to collect and analyze numerical data from suitable organisations in South Africa. The dependence of three profitability indicators such as the Discounted Payback Period (DPP), Net Present Value (NPV) and Return On Investment (ROI) on plant capacity will be evaluated. Profitability analysis will be done on the following plant capacities: 100 000 ton/year, 150 000 ton/year and 200 000 ton/year. The plant capacity with the shortest Discounted Payback Period, positive Net Present Value and highest Return On Investment implies that a further consideration in terms of capital investment is warranted.Keywords: bioethanol, economic evaluation, maize, profitability indicators
Procedia PDF Downloads 2323737 Factors Affecting U-Computing Use
Authors: Shui Lien Chen, Chen-Yin Kuo
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U-computing use has brings many new services of commerce, which could provide a new experience for customer. Location Based Services (LBS) is one of U-computing service. With increase of the smartphone and mobile internet users, there are many small and medium-sized enterprises (SMEs) take LBS in marketing strategy in Taiwan. For example, they would provide Facebook check-in to get a benefit (e.g. discount, free dessert and coupon) to attract customers purchasing. Therefore, this study is to understand which factors would affect SMEs adoption of u-computing and the performances after adopt U-computing. This study collected 187 useful data that were analyzed by SmartPLS 2.0 software. The results of this study are as follows. First, entrepreneurial orientation and market orientation positively affects innovation. Second, business resources and innovation positively affect u-computing use. Finally, U-computing positively affects both business value and customer value.Keywords: entrepreneurial orientation, market orientation, innovation, business resources, u-computing use, LBS
Procedia PDF Downloads 5913736 The Mitigation of Human Trafficking through Agricultural Development: A Proactive International Approach
Authors: Brianna Douglas
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A literary Meta-Analysis was conducted in order to form a proactive solution to the systematic issue of international human trafficking stemming from the Asia-Pacific region. This approach seeks to resolve the low economic prospect for women in the region, along with other identified drivers, to mitigate human trafficking before it begins. Through the reallocation of aid in agriculture, implementation of an education-for-education model, and provision of access to market information to the women in rural regions, the retraction of both the supply and international demand curves of trafficked humans is possible; resulting in the shutdown of the market as a whole. This report provides a basic and adaptable proposal to mitigation the selling of Asia Pacific women within international trafficking schemes with byproduct effects of increasing food, sustainability and decreasing government spending.Keywords: human trafficking, agricultural development, Asia Pacific, women's empowerment
Procedia PDF Downloads 1513735 Targeted Effects of Subsidies on Prices of Selected Commodities in Iran Market
Authors: Sayedramin Hashemianesfehani, Seyed Hossein Hosseinilargani
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In this study, we attempt to realize that to what extent the increase in selected commodities in Iran Market is originated from the implementation of the targeted subsidies law. Hence, an econometric model based on existing theories of increasing and transferring prices in order to transferring inflation is developed. In other words, world price index and virtual variables defined for targeted subsidies has significant and positive impact on the producer price index. The obtained results indicated that the targeted subsidies act in Iran has influential long and short-term impacts on producer price indexes. Finally, world prices of dairy products and dairy price with respect to major parameters is carried out to obtain some managerial results.Keywords: econometric models, targeted subsidies, consumer price index (CPI), producer price index (PPI)
Procedia PDF Downloads 3583734 Believing in a Just-World: The Neoliberal Rationality and the Everyday Legitimation of Social Inequality
Authors: Mónica Catarina Soares
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Neoliberal rationality is currently changing the ways concepts like freedom or equality are framed. As an omnipresent and context-sensitive paradigm, homo oeconomicus is continuously taking place in realms of life previously insulated from economic and market-driven principles. This presentation is based on the argument that, more than ever, this paradigm is nowadays framing institutional and everyday discourses in regard to social problems. Although neoliberal rationality is based on the putative ideological basis that everyone is equal, equality seems to be reshaped by specific meanings apprehended by this rationality. In this sense, an illusion of equality seems to be relevant to legitimize different social inequalities (e.g., access to health care or to habitation). Political psychology has studied how ideology is relevant to legitimize market and unequal systems, but still the specific relation between markets, (in)equality and neoliberal languages is not widely addressed. The goal is to discuss the smithereens of the neoliberal rationality when it comes to legitimizing social inequalities by contesting the arguments of meritocracy, progressive freedom and minimal guarantees obeying to market-rules and principles. This analysis can be helpful to grasp for instance the continuously dismantlement of the welfare-state in different countries of the global north and how it is turning the regulation/emancipation tension inside out. The ultimate goal is to contribute to the breaking up of a paradigm that is still too big to capture, too depoliticized and chameleonic to fully acknowledge the biopolitics of power that is helping to create it.Keywords: discourses, legitimacy, neoliberal rationality, social inequality
Procedia PDF Downloads 2193733 An Assessment of the Extent and Impact of Motor Insurance Fraud Claims in Nigeria
Authors: Olatokunbo Shoyemi, Mario Brito, Ian Dawson
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In recent times, the Nigerian motor insurers have experienced high volume of motor insurance claim pay-outs and insignificant contribution to the net premium income of the Nigerian insurance market, which has been a major concern for the shareholders/stakeholders. It has been argued that there are many factors that have brought about these concerns. However, anecdotal evidence (ongoing debates among industry practitioners) suggests prevalence of fraud due to poor practices in motor insurance business in Nigeria. This study is therefore aimed to carry out an assessment of fraud in motor insurance claims as perceived by experts in the Nigerian insurance market. This study adopted a descriptive research design, and the analysis was built on a survey among insurance experts in Nigeria using a designed questionnaire. A purposive and snowball sampling were used to select our sample (N = 120) - representing a selection of all professionally qualified insurance experts in Nigeria insurance industry. The study found that Nigerian insurance experts (i) largely agree that there is a problematic level of fraud in the Nigerian motor insurance industry; (ii) perceive soft fraud to be about 3 times more common than hard fraud in the Nigerian motor insurance industry, and (iii) strongly agree there are problematic impacts from fraud on the solvency of the Nigerian motor insurers. This paper has provided an empirical understanding of the existence, extent, and impact of fraud risks within the Nigerian insurance market based on expert knowledge and insights rather than, as has often been the case, a reliance on individual anecdotes.Keywords: claims, net premium income, motor insurance, soft fraud, hard fraud
Procedia PDF Downloads 1073732 Effect of Addition and Reduction of Sharia Index Constituents
Authors: Rosyidah, Permata Wulandari
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We investigate the price effect of addition and deletions from the Indonesia Sharia Stock Index (ISSI) and Jakarta Islamic Index (JII). Using event study methodology, we measure abnormal returns for firms over the period June 2019 - to December 2021. Through the sample of 107 additions and 95 deletions, we find evidence to support the theory of Muslim country investment behavior. We find that additions to the Islamic index led to a significant positive stock market reaction and deletions to the Islamic index led to a negative stock market reaction on Jakarta Islamic Index (JII) and there is no significant reaction of addition and deletion on Indonesia Sharia Stock Index (ISSI).Keywords: abnormal return, abnormal volume, event study, index changes, sharia index
Procedia PDF Downloads 128