Search results for: capital markets authority (CMA)

Authors: Genevieve Jorolan-Quintero

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After the devastation caused by typhoon Haiyan in the southeastern part of the Philippines in 2012, there was this intense need among the indigenous communities to ‘reconcile’ with nature. The belief that the deluge, which claimed thousands of lives, was caused by the destruction of the environment because of humanities’ greed and carelessness was widespread and strong. The rift had to be mended. Nature had to be appeased. For this, the balyan (priestess) was called in to perform a ritual. Only she can communicate with the spirits. The communities depend on her spiritual intervention as she alone has the power to invoke the spirits of nature. Among the indigenous people, the balyan is most often also a magdadawot (bard) who possesses the knowledge especially about the folk epics and the skill to chant them. The balyan is the communities’ repository of knowledge. When one passes away, a whole library of tribal knowledge and wisdom is lost. The oral traditions embody the life values, ideals, customs, and even the history of the First Nations People. These include the myths, epics, legends, riddles, and songs. The indigenous system is patriarchal, but is actually indirectly matriarchal reflecting the authority of the woman. Disputes within the community are heard and tried by the Council of Elders. However, the balyan is often consulted for her opinion. Her advice is deemed significant and most often necessary. These are three instances that highlight the significant role of the balyan among the indigenous communities in the Philippines, especially among the Mandaya tribe who live in the southern region of the country. This paper highlights the unique kind of leadership of the Mandaya woman – as priestess and bard - and her impact on the lives of her people.

Keywords: balyan, bard, magdadawot, mandaya

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Authors: Ahmed Rashad Harb Riad Ismail

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The purpose of this research is to study the potential of Dynamic Pricing if deployed by mobile operators and analyse its effects from both operators and consumers side. Furthermore, to conclude, throughout the research study, the recommended conditions for successful Dynamic Pricing deployment, recommended factors identifying the type of markets where Dynamic Pricing can be effective, and proposal for a Dynamic Pricing stakeholders’ framework were presented. Currently, the mobile telecommunications industry is witnessing a dramatic growth rate in the data consumption, being fostered mainly by higher data speed technology as the 4G LTE and by the smart devices penetration rates. However, operators’ revenue from data services lags behind and is decupled from this data consumption growth. Pricing strategy is a key factor affecting this ecosystem. Since the introduction of the 4G LTE technology will increase the pace of data growth in multiples, consequently, if pricing strategies remain constant, then the revenue and usage gap will grow wider, risking the sustainability of the ecosystem. Therefore, this research study is focused on Dynamic Pricing for 4G LTE data services, researching the drivers, benefits and challenges of 4G LTE Dynamic Pricing and the feasibility of its deployment in practice from different perspectives including operators, regulators, consumers, and telecommunications equipment manufacturers point of views.

Keywords: LTE, dynamic pricing, EPC, research

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Authors: Bahram Soltani, Louai Ghazieh

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Following the high profile financial scandals of 2007-2008, corporate management has been faced with strong pressures resulting from more regulatory requirements, as well as the increasing expectations of various groups of stakeholders. The responsibility acquired a big importance in front of this financial crisis. This responsibility requires more transparency and communication, inside the company with the collaborators and outside of the company with the society, while companies try to improve the degree of control and to authorize managers to realize the objectives of the company. The objective of this paper is to present the concept of the responsibility generally and the various types of manager’s responsibility in private individual within the company, as well as the explanatory theories of this responsibility through the various perspectives such as: economic, political, social and behavioral. This study should have academic and practical contributions particularly for regulators seeking to improve the companies’ practices and organizational functioning within capital market economy.

Keywords: manager, accountability, corporate performance, financial crisis, behavior

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Authors: Zubier Arfan, Paul Johnson

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The electronification of financial markets and the rise of algorithmic trading has sparked a lot of interest from the mathematical community, for the market making-problem in particular. The research presented in this short paper solves the classic stochastic control problem in order to derive the strategy for a market-maker. It also shows how to calibrate and simulate the strategy with real limit order book data for back-testing. The ambiguity of limit-order priority in back-testing is dealt with by considering optimistic and pessimistic priority scenarios. The model, although it does outperform a naive strategy, assumes constant volatility, therefore, is not best suited to the LOB data. The Heston model is introduced to describe the price and variance process of the asset. The Trader's constant absolute risk aversion utility function is optimised by numerically solving a 3-dimensional Hamilton-Jacobi-Bellman partial differential equation to find the optimal limit order quotes. The results show that the stochastic volatility market-making model is more suitable for a risk-averse trader and is also less sensitive to calibration error than the constant volatility model.

Keywords: market-making, market-microsctrucure, stochastic volatility, quantitative trading

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Authors: Tiantian Ma

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The district of Doumen, Zhuhai has a sophisticated seabass value chain. However, unlike typical Global Value Chain (GVC) industries, the seabass value chain in Doumen is highly domestic both in terms of production and consumption. Still, since the highly-industrialized and capital-intensive industry involves many off-farm segments in both upstream and downstream, this paper will be utilizing the method of value chain analysis. To be specific, the paper will concentrate on two research goals: 1) the value chain mapping of the seabass industry, such as identifying actors in the hatchery, fish feed, fishponds, processing, logistics, and distribution, 2) the SWOT analysis of the seabass industry in Doumen, including incompetence of the waste disposal, the strategy of marketing, and the supportive role of the government, etc. In general, the seabass industry in Doumen is a sophisticated but not yet comprehensive value chain. It has achieved a lot in industrializing aqua-food products and fostering development, but there are still improvements that could be carried out, such as upholding environmental sustainability and promoting the brand better.

Keywords: agricultural value chain, fish farming, regional development, SWOT analysis, value chain mapping

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Authors: Basheer Ahmad Al-Alwan

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This study aimed to assess the extent of administrative creativity and identify its barriers from the perspective of employees working in youth centers in Jordan. The sample comprised 156 individuals employed in youth centers within the Hashemite Kingdom of Jordan. Data collection involved the utilization of two measures: the administrative creativity scale and the obstacles to administrative work scale. Correlation and stepwise multiple regression analyses were conducted. The findings revealed a high level of administrative creativity, as indicated by a mean score of 3.82 and a standard deviation of 0.51. Furthermore, statistically significant gender-based differences in administrative creativity were observed, favoring males, with a mean score of 3.32 for males compared to 2.91 for females. The results also demonstrated statistically significant differences in the level of administrative creativity based on experience, with the highest mean score observed for individuals with 5 to less than 10 years of experience. Regarding the obstacles to administrative creativity, the findings revealed an average level, with a mean score of 2.86 and a standard deviation of 0.791. Based on these results, the study recommends the promotion of a culture of creativity among employees and the provision of a broader scope of authority to foster an environment conducive to administrative creativity. Additionally, it suggests offering training courses encompassing the annual plan for these centers and minimizing obstacles that hinder the creative process among employees in Jordanian youth centers.

Keywords: administrative creativity, obstacles, workers in youth centers, Jordan

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Authors: Ibrahim Alshunaibir

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Infection with Helicobacter pylori is common worldwide but few studies focus on the prevalence and spread of the infection in Saudi Arabia. This study was undertaken to observe the epidemiology of Helicobacter pylori infection in patients suffering from gastrointestinal sign and symptoms in one of the largest hospitals in the capital of Saudi Arabia, Riyadh. Methods: Enzyme-linked immunosorbent assay (ELISA) was undertaken for this study with nearly 6000 samples collected and examined for patients suffering from (dyspeptic) symptoms ranging in their age from 5 to 75 years. Results: The prevalence of helicobacter infection was 67% increasing with age. Female shows higher percentage of H. pylori infection than male. Conclusions: The percentage rate was higher in female than male. This study shows a high percentage of helicobacter infection in Saudi Arabia.

Keywords: Helicobacter pylori, percentage, dyspeptic, Saudi Arabia

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Authors: Anupreet B. Dugal, Suruchi Mittar

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The research prospect explores fashion as a tool to effectively emancipate the Sikh identity. The study presents information on how fashion has played a critical and visible role in reflecting and helping to construct identities based on religiosity. It discusses the Sikh identity, its’ origin; its continuity and the contemporary ambivalence. Fashion has mostly, if not always been used as a means of establishing identity. This research creates a gateway to discuss the impact that fashion can have on the existing socio-cultural and religious models. The study focuses on the Sikhs, a small community of India with regard to their visual appearance. The research will be based on the case study of 1469, a store infusing Sikhism as a style quotient. Subsequently, in the research framework, a sample study would be conducted with Sikh youth (18-25 years old) hailing from New Delhi, the capital city of India. 1469 formulates a striking case study for examining the relationship between fashion and religious and personal identity.

Keywords: fashion, identity, sikh identity, textiles

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Authors: Dian Andari

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In several decades, Islamic Banks (IBs) has proliferated internationally. To ensure IBs’ accountability to all stakeholders, a governance system is established. Similar to conventional banks (CBs), IBs create corporate governance system. In addition, IBs have Shari’ah Supervisory Board (SSB) as part of Shari’ah governance formed purposively to ensure IBs innovative operations comply to the Shari’ah. Thus, all boards in IBs must actively participate in good corporate as well as Shari’ah governance. The research will analyze SSB’s performance and quality of disclosure by observing 10 IBs annual report from 2011 to 2015 in Gulf countries. The content analysis will be done to see the relationship between SSB’s performance and quality of disclosure in the annual report. The analysis found that event all aspects of disclosure have been meet, financial disclosure still dominates the annual report. This can indicate that the SSB’s focus is on the interest of capital providers.

Keywords: Islamic banks, Shari'ah supervisory board, accountability, quality of disclosure

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Authors: Nzeaka Emmanuel Ezimako

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With the advent of new media, especially X, the government's previous foundation of media power and control in Nigeria has been diminished because they can no longer regulate the public sphere to control social action and reactions. This study examined how IPOB (Indigenous People of Biafra) resistance and the 2020 #Endsars aborted revolution were able to control public discourse during social upheavals, as well as how the new media have diminished the influence that the government and media owners once had over Nigerians. This study is significant because it recognizes the social transformation brought about by the emergence of new media, particularly with the most widely used social media platform in Nigeria, X, and how citizen media activity is altering the media ecosystem and challenging the government and private media owners' hegemony over news coverage in Nigeria to the point where the government saw X as a blatant threat to its hegemony and banned it in 2021. This study used a triangulation of qualitative and quantitative analysis with 300 respondents (n=300) from different sectors of the media practitioners, scholars, and university students in Nigeria to draw a conclusion in line with Democratic Participant Media Theory, which questions the necessity for centralized media regulated by the government and conglomerates. The contributions to filling the gap in the literature are meant to aid readers in comprehending how X has developed into a dominant force in Nigerian media, particularly during the crisis. The study offers recommendations for media executives, policymakers, and the public on how to manage the media conflict that has developed because of the loss of official government oversight of the mass media due to the emergence of X in the media space.

Keywords: Twitter, new media, regulations, dominance, resistance

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Authors: Safiye Ates Burc

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This proposal is based on the story of Kurdish tribal conflict and peace in Mardin (Turkey). In the stories that will be detailed with in-depth interviews with the parties to the conflict (family elders, mediators and other tribal lords); It will be examined how rumor has an effect on establishing conflict and peace and whether it shakes the trust between the parties. In fact, this research is still at an ongoing stage. In this paper, the effect of emotions on conflict and reconciliation, which is the main subject of this ongoing study, will be conveyed in line with the data obtained from the preliminary research. In-depth interviews are conducted in the research in which the ethnography method is used. As an early result, it can be said that in organizations such as the Kurdish tribes, where local loyalties and traditions are very strong, the rumor has the potential to shake the trust between the parties and thus can become the excuse for conflict. Because rumors damage the prestige of tribes, that’s, it’s social capital.

Keywords: rumor, trust, Kurdish tribes, local peacemaking, conflict

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Authors: Michiko Miyamoto

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This paper empirically investigates whether information technology (IT) strategies, business strategies, and divisions are aligned to meet overall business goals for Korean Small and medium-sized enterprises (SMEs), based on structure based Strategic Alignment Model, and make comparison with those of Japanese SMEs. Using 2,869 valid responses of Korean Human Capital Corporate Panel survey, a result of this study suggests that Korean human resources (HR) departments have a major influence over IT strategy, which is the same as Japanese SMEs, even though their management styles are quite different. As for IT strategy, it is not related to other departments at all for Korean SMEs. The Korean management seems to possess a great power over each division, such as Sales/Service, Research and Development/Technical Experts, HR, and Production.

Keywords: IT-business alignment, structured based strategic alignment model, structural equation model, human resources department

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Authors: Qura-tul-aain Khair

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Purpose- The purpose of this paper is to empirically examining the strength of association of responsive market orientation and proactive market orientation with new product performance and exploring the possible moderating role of organizational learning based on contingency theory. Design/methodology/approach- Data for this study was collected from FMCG manufacturing industry and services industry, where customers are in contact frequently and responses are recorded on continuous basis. Sample was collected through convenience sampling. The data collected from different marketing department and sales personnel were analysed using SPSS 16 version. Findings- The paper finds that responsive market orientation is more strongly associated with new product performance. The moderator, organizational learning, plays it significant role on the relationship between responsive market orientation and new product performance. Research limitations/implications- this paper has taken sample from just FMCG industry and service industry, more work can be done regarding how different-markets require different market orientation behaviours. Originality/value- This paper will be useful for foreign business looking for investing and expanding in Pakistan, they can find opportunity to get sustained competitive advantage through exploring the proactive side of market orientation and importance of organizational learning.

Keywords: organizational learning, proactive market orientation, responsive market orientation, new product performance

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Authors: Mary Esere, Mogbekeloluwa Fakokunde, Adetoun Idowu

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Background: Working in a military setting could elicit some amount of stressful doses into ones system because of the attendant peculiar characteristics found in the military environment. Thus, this study was carried out to find out the sources of occupational stress among teachers in various Command Secondary Schools within 2 Division of Nigerian Army. Method: The study employed a survey method. Simple random sampling technique was used to select the schools in the Division. A total of 200 respondents participated in the study. Sources of Teachers’ Occupational Stress Questionnaire (STOSQ) was administered to the respondents to collect relevant data. The t-test and Analysis of Variance (ANOVA) statistics were used to test the hypotheses. Findings: From the study, it was discovered that teachers in this setting do experience occupational stress. Their major sources of stress bother on issues relating to salaries and allowances and staff welfare concerns. The findings also revealed that there were no significant differences in the sources of occupational stress among the teachers in respect to gender and marital status. Discussion: Based on these findings, it was recommended that the Appropriate Superior Authority (ASA) should reconstitute the proscribed Armed Forces Schools Management Board (AFSMB) where issues, such as staff salaries and welfare concerns for teachers working in the schools under the three services (Army, Navy, Airforce) will always be addressed. This will go a long way in enhancing the psychological well-being of the teachers.

Keywords: Nigerian army, occupational stress, sources, teachers

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Authors: Peyman Soltani, Mohammad Sadegh Amin Din

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The relation between religion and education has been considered for a long time. Approaching education through religion and sovereignty has been a kind of idealism in past centuries` educational systems and no opposition between religion and education has been felt. The doctrine of human education and training is mentioned in the Qur’an, as the most important reason of Prophet Mohammad ` first revelation, Verse 129 of Chapter Baqara, Verse 164 of Chapter Aali-ʻimraan and verse 2 of Chapter Jumʻah have addressed this issue. During Middle age, temples and mosques were engaged in children education. Religious materials have played an important role in the content of educational courses. In this era, the main goal of education was to study the religious books and behaving in society accordingly. Also in this training period, the European countries were considerably influenced by religion. Children in these countries were trained in churches and monasteries. Training and religion are closely connected with each other. It should be noted that experience and religious knowledge is a heart and emotional issue with no-imposition, therefore, the educational space should be designed in such a way that students, themselves, shift to experiencing some religious feelings. The important factors in Islamic Educational system are as follow: - Religious-based - Strengthening national identity - Authenticity of learner role 4- Importance of teacher` authority role. These factors are explained in Conceptual and intertwined network and in practical process, training each of them, proportional to student needs and conditions, can be the beginning of a course of religious education for students, and can strengthen other elements.

Keywords: education and training, Islamic educational system, the Qur'an, religious knowledge

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Authors: Marco Barassi, Nicola Spagnolo

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This paper uses a DCC-GARCH model framework to examine mean and volatility spillovers (i.e. causality in mean and variance) dynamics between financial centers and the stock market indexes of the BRICS countries. In addition, tests for changes in the transmission mechanism are carried out by first testing for structural breaks and then setting a dummy variable to control for the 2008 financial crises. We use weekly data for nine countries, four financial centers (Germany, Japan, UK and USA) and the five BRICS countries (Brazil, Russia, India, China and South Africa). Furthermore, we control for monetary policy using domestic interest rates (90-day Treasury Bill interest rate) over the period 03/1/1990 - 04/2/2014, for a total of 1204 observations. Results show that the 2008 financial crises changed the causality dynamics for most of the countries considered. The same pattern can also be observed in conditional correlation showing a shift upward following the turbulence associated to the 2008 crises. The magnitude of these effects suggests a leading role played by the financial centers in effecting Brazil and South Africa, whereas Russia, India and China show a higher degree of resilience.

Keywords: financial crises, DCC-GARCH model, volatility spillovers, economics

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Authors: Maruf Ariyo Raheem, Patrick Oseloka Ezepue

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This research aimed at determining most appropriate heteroskedastic model to predicting volatility of 10 major Nigerian banks: Access, United Bank for Africa (UBA), Guaranty Trust, Skye, Diamond, Fidelity, Sterling, Union, ETI and Zenith banks using daily closing stock prices of each of the banks from 2004 to 2014. The models employed include ARCH (1), GARCH (1, 1), EGARCH (1, 1) and TARCH (1, 1). The results show that all the banks returns are highly leptokurtic, significantly skewed and thus non-normal across the four periods except for Fidelity bank during financial crises; findings similar to those of other global markets. There is also strong evidence for the presence of heteroscedasticity, and that volatility persistence during crisis is higher than before the crisis across the 10 banks, with that of UBA taking the lead, about 11 times higher during the crisis. Findings further revealed that Asymmetric GARCH models became dominant especially during financial crises and post crises when the second reforms were introduced into the banking industry by the Central Bank of Nigeria (CBN). Generally, one could say that Nigerian banks returns are volatility persistent during and after the crises, and characterised by leverage effects of negative and positive shocks during these periods

Keywords: global financial crisis, leverage effect, persistence, volatility clustering

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Authors: Cem Isik Dogru, Salih Tekin, Kursad Derinkuyu

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Electric vehicle (EV) carsharing is an alternative method to tackle urban transportation problems. This method can be applied by several options. One of the options is the one-way carsharing, which allow an EV to be taken at a designated location and leaving it on another specified location customer desires. Although it may increase users’ satisfaction, the issues, namely, demand dissatisfaction, relocation of EVs and charging schedules, must be dealt with. Also, excessive electricity has to be stored in batteries of EVs. To cope with aforementioned issues, two-step mixed integer programming (MIP) model is proposed. In first step, the integer programming model is used to determine amount of electricity to be sold to the grid in terms of time periods for extra profit. Determined amounts are provided from the batteries of EVs. Also, this step works in day-ahead electricity markets with forecast of periodical electricity prices. In second step, other MIP model optimizes daily operations of one-way carsharing: charging-discharging schedules, relocation of EVs to serve more demand and renting to maximize the profit of EV fleet owner. Due to complexity of the models, heuristic methods are introduced to attain a feasible solution and different price information scenarios are compared.

Keywords: electric vehicles, forecasting, mixed integer programming, one-way carsharing

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Authors: Yang Liu

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The work team has been being adopted by the CCP for special missions in a limited time. Since the 18th National Congress of CCP, the unprecedented practice of the work team has had impacts beyond the original goal of poverty alleviation, their functions in village governance have still not been well studied. As the state agents that come from the outside of the village community, this article argues that the work team is a group that represents the coexistence of political, economic, and cultural capital, which contributes to effectively empower the state, and the village cadres and the peasants. For the state, more accurate bottom-up information could be collected by the work team, and policies could be made scientifically and implemented without distortion. For the village cadres, they can learn leadership skills and share more resources owned or mobilized by the work team. For the peasants, they have more access to participate the public affairs of their village and express their claims. The multiple empowerments have greatly improved the relationship among the state, the peasants, and the village cadres since a series of reforms from 1980s to 2000s that alienated the relationship among them.

Keywords: state, village cadre, empowerment, work team, peasants

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Authors: Grichting Anna, Al Sada Sara, Caccayam Angelica, Khan Urshi

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The Qatar Museums Authority recently announced a series of public art initiatives in Doha with the purpose of 'bringing art out of the walls of the museum' to make it accessible to the public on a daily basis and to encourage discussion and debate. While the installation of sculptures in public spaces is not new in Doha, the practice of integrating art in public spaces and architectural projects is reaching a new dimension as internationally renowned artists – such as Damien Hirst and Richard Serra - are being commissioned to install their works in the public spaces and buildings of the city of Doha as well as in more remote desert locations. This research discusses the changing presence, role and context of public art in Doha, both from a historical and cultural overview, and the different forms and media as well as the typologies of urban and public spaces in which the art is installed. It examines the process of implementing site-specific artworks, looking at questions of scale, history, social meaning and formal aesthetics. The methodologies combine theoretical research on the understanding of public art and its role and placement in public space, as well as empirical research on contemporary public art projects in Doha, based on documentation and interviews and as well as site and context analysis of the urban or architectural spaces within which the art is situated. Surveys and interviews – using social media - in different segments of the contemporary Qatari society, including all nationalities and social groups, are used to measure and qualify the impacts and effects on the population.

Keywords: public space, public art, urban design, knowledge economy

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Authors: Iris Vural Gursel, Andrea Ramirez

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Effective utilization of lignin is an important mean for developing economically profitable biorefineries. Current literature suggests that large amounts of lignin will become available in second generation biorefineries. New conversion technologies will, therefore, be needed to carry lignin transformation well beyond combustion to produce energy, but towards high-value products such as chemicals and transportation fuels. In recent years, significant progress on catalysis has been made to improve transformation of lignin, and new catalytic processes are emerging. In this work, a techno-economic assessment of two of these novel conversion routes and comparison with more established lignin pyrolysis route were made. The aim is to provide insights into the potential performance and potential hotspots in order to guide the experimental research and ease the commercialization by early identifying cost drivers, strengths, and challenges. The lignin conversion routes selected for detailed assessment were: (non-catalytic) lignin pyrolysis as the benchmark, direct hydrodeoxygenation (HDO) of lignin and hydrothermal lignin depolymerisation. Products generated were mixed oxygenated aromatic monomers (MOAMON), light organics, heavy organics, and char. For the technical assessment, a basis design followed by process modelling in Aspen was done using experimental yields. A design capacity of 200 kt/year lignin feed was chosen that is equivalent to a 1 Mt/y scale lignocellulosic biorefinery. The downstream equipment was modelled to achieve the separation of the product streams defined. For determining external utility requirement, heat integration was considered and when possible gasses were combusted to cover heating demand. The models made were used in generating necessary data on material and energy flows. Next, an economic assessment was carried out by estimating operating and capital costs. Return on investment (ROI) and payback period (PBP) were used as indicators. The results of the process modelling indicate that series of separation steps are required. The downstream processing was found especially demanding in the hydrothermal upgrading process due to the presence of significant amount of unconverted lignin (34%) and water. Also, external utility requirements were found to be high. Due to the complex separations, hydrothermal upgrading process showed the highest capital cost (50 M€ more than benchmark). Whereas operating costs were found the highest for the direct HDO process (20 M€/year more than benchmark) due to the use of hydrogen. Because of high yields to valuable heavy organics (32%) and MOAMON (24%), direct HDO process showed the highest ROI (12%) and the shortest PBP (5 years). This process is found feasible with a positive net present value. However, it is very sensitive to the prices used in the calculation. The assessments at this stage are associated with large uncertainties. Nevertheless, they are useful for comparing alternatives and identifying whether a certain process should be given further consideration. Among the three processes investigated here, the direct HDO process was seen to be the most promising.

Keywords: biorefinery, economic assessment, lignin conversion, process design

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Authors: Maximilian A. Richter

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The public authority needs to understand the role and impacts of autonomous vehicle (AV) on the mobility system. At present, however, research shows that the impact of AV on cities varies. As a consequence, it is difficult to make recommendations to policymakers on how they should prepare for the future when so much remains unknown about this technology. The study aims to provide an overview of the literature on how autonomous vehicles will affect the cities and traffic of the future. To this purpose, the most important studies are first selected, and their results summarized. Further on, it will be clarified which advantages AV have for cities and how it can lead to an improvement in the current problems/challenges of cities. To achieve the research aim and objectives, this paper approaches a literature review. For this purpose, in a first step, the most important studies are extracted. This is limited to studies that are peer-reviewed and have been published in high-ranked journals such as the Journal of Transportation: Part A. In step 2, the most important key performance indicator (KPIs) (such as traffic volume or energy consumption) are selected from the literature research. Due to the fact that different terms are used in the literature for similar statements/KPIs, these must first be clustered. Furthermore, for each cluster, the changes from the respective studies are compiled, as well as their survey methodology. In step 3, a sensitivity analysis per cluster is made. Here, it will be analyzed how the different studies come to their findings and on which assumptions, scenarios, and methods these calculations are based. From the results of the sensitivity analysis, the success factors for the implementation of autonomous vehicles are drawn, and statements are made under which conditions AVs can be successful.

Keywords: autonomous vehicles, city of the future, literature review, traffic simulations

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Authors: Wen Chiat Lee, K. Kuperan Viswanathan

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Illegal, Unreported and unregulated (IUU) fishing brings great losses to the economies of the fishing nations. Understanding the reasons contributing to IUU fishing is crucial in reducing it. Economic, institutional and social factors are key drivers of IIU fishing. The economic factor is the main contributor to IUU fishing. The two possible ways to curb the IUU fishing is highlighted. One way is to reduce the revenue from IUU fishing and another way is to increase the cost of IUU fishing. There are three costs of IUU fishing that can be increased namely the operating, capital and risk costs. Approaches for reducing the economic rent or profit from IUU fishing are developed and directions for reducing IUU fishing are also suggested. Improved registration of fishing vessels, preventing entry of illegal fish products and most importantly, developing co-management of fisheries are the ways forward for reducing IUU fishing. All governments in ASEAN must work in tandem with the stakeholders involved such as fishers, fishermen agencies or associations to exchange information for reducing the transaction cost of IUU fishing.

Keywords: Illegal, unreported and unregulated (IUU) fishing, co-management, fisheries management, economic rent framework

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Authors: Amira Mabrouk, Chokri Abdennadher

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The reduction of road congestion which is inherent to the use of vehicles is an obvious priority to public authority. Therefore, assessing the willingness to pay of an individual in order to save trip-time is akin to estimating the change in price which was the result of setting up a new transport policy to increase the networks fluidity and improving the level of social welfare. This study holds an innovative perspective. In fact, it initiates an economic calculation that has the objective of giving an estimation of the monetized time value during the trips made in Sfax. This research is founded on a double-objective approach. The aim of this study is to i) give an estimation of the monetized value of time; an hour dedicated to trips, ii) determine whether or not the consumer considers the environmental variables to be significant, iii) analyze the impact of applying a public management of the congestion via imposing taxation of city tolls on urban dwellers. This article is built upon a rich field survey led in the city of Sfax. With the use of the contingent valuation method, we analyze the “declared time preferences” of 450 drivers during rush hours. Based on the fond consideration of attributed bias of the applied method, we bring to light the delicacy of this approach with regards to the revelation mode and the interrogative techniques by following the NOAA panel recommendations bearing the exception of the valorization point and other similar studies about the estimation of transportation externality.

Keywords: willingness to pay, contingent valuation, time value, city toll

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Authors: Tiberiu Socaciu, Tudor Colomeischi, Eugenia Iancu

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Business failure affects in various proportions shareholders, managers, lenders (banks), suppliers, customers, the financial community, government and society as a whole. In the era in which we have telecommunications networks, exists an interdependence of markets, the effect of a failure of a company is relatively instant. To effectively manage risk exposure is thus require sophisticated support systems, supported by analytical tools to measure, monitor, manage and control operational risks that may arise. As we know, bankruptcy is a phenomenon that managers do not want no matter what stage of life is the company they direct / lead. In the analysis made by us, by the nature of economic models that are reviewed (Altman, Conan-Holder etc.), estimating the risk of bankruptcy of a company corresponds to some extent with its own business cycle tracing of the company. Various models for predicting bankruptcy take into account direct / indirect aspects such as market position, company growth trend, competition structure, characteristics and customer retention, organization and distribution, location etc. From the perspective of our research we will now review the economic models known in theory and practice for estimating the risk of bankruptcy; such models are based on indicators drawn from major accounting firms.

Keywords: Anglo-Saxon models, continental models, national models, statistical models

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Authors: Matias Micheletto, Rodrigo Santos, Sergio F. Ochoa

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In developing countries, the most roads in rural areas are dirt road. They require frequent maintenance since are affected by erosive events, such as rain or wind, and the transit of heavy-weight trucks and machinery. Early detection of damages on the road condition is a key aspect, since it allows to reduce the main-tenance time and cost, and also the limitations for other vehicles to travel through. Most proposals that help address this problem require the explicit participation of drivers, a permanent internet connection, or important instrumentation in vehicles or roads. These constraints limit the suitability of these proposals when applied into developing regions, like in Latin America. This paper proposes an alternative method, based on unattended crowdsensing, to determine the quality of dirt roads in rural areas. This method involves the use of a mobile application that complements the road condition surveys carried out by organizations in charge of the road network maintenance, giving them early warnings about road areas that could be requiring maintenance. Drivers can also take advantage of the early warnings while they move through these roads. The method was evaluated using information from a public dataset. Although they are preliminary, the results indicate the proposal is potentially suitable to provide awareness about dirt roads condition to drivers, transportation authority and road maintenance companies.

Keywords: dirt roads automatic quality assessment, collaborative system, unattended crowdsensing method, roads quality awareness provision

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Authors: Baobao Li

Abstract:

Operational risk covers all operations of commercial banks and has a close relationship with the bank’s internal control. But in the commercial banks' management practice, internal control is always separated from the operational risk measurement. With the increasing of operational risk events in recent years, operational risk is paid more and more attention by regulators and banks’ managements. The paper first discussed the relationship between internal control and operational risk management and used CVaR-POT model to measure operational risk, and then put forward a modified measurement method (to use operational risk assessment results to modify the measurement results of the CVaR-POT model). The paper also analyzed the necessity and rationality of this method. The method takes into consideration the influence of internal control, improves the accuracy and effectiveness of operational risk measurement and save the economic capital for commercial banks, avoiding the drawbacks of using some mainstream models one-sidedly.

Keywords: commercial banks, internal control, operational risk, risk measurement

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Authors: J. Gochermann

Abstract:

German energy market is under historical change. Turning-off the nuclear power plants and intensive subsidization of the renewable energies causes a paradigm change from big central energy production and distribution to more local structures, bringing the energy production near to the consumption. The formerly big energy market with only a few big energy plants and grid operating companies is changing into a disperse market with growing numbers of small and medium size companies (SME) generating new value-added products and services. This change in then energy market, in Germany called the “Energiewende”, inverts also the previous innovation system. Big power plants and large grids required also big operating companies. Innovations in the energy market focused mainly on big projects and complex energy technologies. Innovation in the new energy market structure is much more dispersed. Increasing number of SME is now able to develop energy production and storage technologies, smart technologies to control the grids, and numerous new energy related services. Innovation is now regional distributed, which is a remarkable problem for the old big energy companies. The paper will explain the change in the German energy market and the paradigm change as well as the consequences for the innovation structure in the German energy market. It will show examples how SME participate from this change and how innovation systems, as well for the big companies and for SME, can be adapted.

Keywords: changing energy markets, disperse innovation, new value-added products and services, SME

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Authors: Weera Weerasophon

Abstract:

This research paper is to study the development of a management model for promoting sustainable tourism of Rajabhat universities in Thailand. Mixed Method Research is applied under the said topic. The researcher has developed a management model to promote sustainable tourism. The objectives of the research are 1) to study the readiness in management sustainable tourism of Rajabhat universities in Thailand 2) to develop a management model for promoting sustainable tourism of those universities. The process of this research is organized in two steps according to the objectives. The results of the research are as in the following: 1. Rajabhat universities have the readiness in management for promoting sustainable tourism. The universities can be developed to be sustainable tourist attraction under the admistrators who have vision and realize the importance of tourism, eager to promote sustainable tourism of the universities by specifying obvious policy plans and management. 2. The management model for promoting sustainable tourism of Rajabhat universities is consisted of the main following factors : 2.1 Master plan and policy, 2.2 Rajabhat universities organization management and personnel administration, 2.3 Assignment and authority, leadership, 2.4 Join network, 2.5 Assurance of quality and controlling, 2.6 Budget management, 2.7 Human Resources management, 2.8 Alliance and co-ordination, 2.9 Tool of marketing. There are also other communal factors for promoting sustainable tourism. They are: local communities, local communities, tourism activities, government and private sectors, communicative technology system, history, tourist attractive, art and culture, internal and external environment including local wisdom heritage. The management model for promoting sustainable tourism can be concluded from these main and communal factors mentioned above.

Keywords: tourism, sustainable tourism, management, Rajabhat University

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Authors: Amir Taghizadeh Vahed, Adithya Thaduri

Abstract:

Shovels are the main components in the mining transportation system. The productivity of the mines depends on the availability of shovels due to its high capital and operating costs. The unplanned failure/shutdowns of a shovel results in higher repair costs, increase in downtime, as well as increasing indirect cost (i.e. loss of production and company’s reputation). In order to mitigate these failures, predictive maintenance can be useful approach using failure prediction. The modern mining machinery or shovels collect huge datasets automatically; it consists of reliability and maintenance data. However, the gathered datasets are useless until the information and knowledge of data are extracted. Machine learning as well as data mining, which has a major role in recent studies, has been used for the knowledge discovery process. In this study, data mining and machine learning approaches are implemented to detect not only anomalies but also patterns from a dataset and further detection of failures.

Keywords: maintenance, machine learning, shovel, conditional based monitoring

Procedia PDF Downloads 222