Search results for: innovation economy

Authors: Kathrin F. Schneider, Luis Xavier Unda Galarza

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In our modern world, few are the areas that are not permeated by digitalization: we use digital tools for work, study, entertainment, and daily life. Since technology changes rapidly, skills must adapt to the new reality, which gives a dynamic dimension to the set of skills necessary for people's academic, professional, and personal success. The concept of 21st-century digital skills, which includes skills such as collaboration, communication, digital literacy, citizenship, problem-solving, critical thinking, interpersonal skills, creativity, and productivity, have been widely discussed in the literature. Digital transformation has opened many economic opportunities for entrepreneurs for the development of their products, financing possibilities, and product distribution. One of the biggest advantages is the reduction in cost for the entrepreneur, which has opened doors not only for the entrepreneur or the entrepreneurial team but also for corporations through intrapreneurship. The development of students' general literacy level and their digital competencies is crucial for improving the effectiveness and efficiency of the learning process, as well as for students' adaptation to the constantly changing labor market. The digital economy allows a free substantial increase in the supply share of conditional and also innovative products; this is mainly achieved through 5 ways to reduce costs according to the conventional digital economy: search costs, replication, transport, tracking, and verification. Digital entrepreneurship worldwide benefits from such achievements. There is an expansion and democratization of entrepreneurship thanks to the use of digital technologies. The digital transformation that has been taking place in recent years is more challenging for developing countries, as they have fewer resources available to carry out this transformation while offering all the necessary support in terms of cybersecurity and educating their people. The degree of digitization (use of digital technology) in a country and the levels of digital literacy of its people often depend on the economic level and situation of the country. Telefónica's Digital Life Index (TIDL) scores are strongly correlated with country wealth, reflecting the greater resources that richer countries can contribute to promoting "Digital Life". According to the Digitization Index, Ecuador is in the group of "emerging countries", while Chile, Colombia, Brazil, Argentina, and Uruguay are in the group of "countries in transition". According to Herrera Espinoza et al. (2022), there are startups or digital ventures in Ecuador, especially in certain niches, but many of the ventures do not exceed six months of creation because they arise out of necessity and not out of the opportunity. However, there is a lack of relevant research, especially empirical research, to have a clearer vision. Through a self-report questionnaire, the digital skills of students will be measured in an Ecuadorian private university, according to the skills identified as the six 21st-century skills. The results will be put to the test against the variable of the intention to start a digital venture measured using the theory of planned behavior (TPB). The main hypothesis is that high digital competence is positively correlated with the intention to start digital entrepreneurship.

Keywords: new literacies, digital transformation, 21st century skills, theory of planned behavior, digital entrepreneurship

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Authors: Victoria Y. Garnova, Vladimir G. Merzlikin, Denis G. Yakovlev, Andrei А. Amelenkov, Sergey V. Khudyakov

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Assessment of novelty of studies submitted in Russian publications is given by the method citation analysis to identify scientific research with a high degree of innovation. This may be the basis of recommendations for subjects new joint projects setting of the RF and the EU. Apart from not the best rating of Russian publications (may even its lack) current IT ensure open access to the WEB-sites of these journals that make possible own expertise selective rapid assessment of the advanced developments in Russia by interested foreign investors. Cited foreign literature in Russian journals can become the subject of study to determine the innovative attractiveness of scientific research on the background a specific future-proof abroad. Authors introduced: (1) linguistic impact factor Li-f of journals for describing the share of publications in the majority language; (2) linguistic citation index Lact characterizing the significance of scientific research and linguistic top ones Ltop for evaluation of the spectral width of citing of foreign journals.

Keywords: citation analysis, linguistic citation indexes, linguistic impact factor, innovative projects

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Authors: F. Gökgöz, M. E. Atmaca

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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: electricity market, portfolio optimization, risk management in electricity market, sharpe ratio

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Authors: Kornchanok Chidchaisuwan

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This project is a study of learning activities through experience to enhance career skills and technical abilities on the creative strategies for advertising course of undergraduate students. This instructional model consisted of study learning approaches: 1) Simulation-based learning: used to create virtual learning activities plans for work like working at advertising companies. 2) Project-based learning: Actual work based on the processed creating and focus on producing creative works to present on new media channels. The results of learning management found that there were effects on the students in various areas, including 1) The learners have experienced in the step by step of advertising work process. 2) The learner has the skills to work from the actual work (Learning by Doing), allowing the ability to create, present, and produce the campaign accomplished achievements and published on online media at a better level.

Keywords: technical, advertising, presentation, career skills, experience, simulation based learning

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Authors: Scott Kelting, Lucas Nozick

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The perpetually growing population and economy within the United States necessitates building construction of all types. Increased building generates environmental concerns, and rightfully so. This industry accounts for approximately 4% of the total GDP in the United States while creating around two-thirds of the material waste annually. The green building movement is certainly gaining popularity in both application and recognition through entities such as the United States Green Building Council (USGBC) and their LEED program; however, builders are also producing their ideas. Alternative housing solutions that include pre-fabricated building components and shipping container homes are making great strides in the residential construction industry, and will certainly play an important role in the future. This paper will compare the cost and schedule of modular, panelized and shipping container homes to traditional stick frame home construction in the Greater Los Angeles Metropolitan Area and recommend the best application for each option.

Keywords: cost, prefabricated, schedule, shipping container, stick framed

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Authors: Emily Moore, Andrew Gaukroger, Matthew Solan, Lucy Bailey, Alexandra Boxall, Andrew Carne, Chintu Gadamsetty, Charlotte Morley, Katy Western, Iwona Kolodziejczyk

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Introduction: Rupture of the Achilles tendon is common and has a long recovery period. Most cases are managed non-operatively. Foot and Ankle Surgeons advise an ultrasound scan to check the gap between the torn ends. A large gap (with the ankle in equinus) is a relative indication for surgery. The definitive decision regarding surgical versus non-operative management can only be made once an ultrasound scan is undertaken and the patient is subsequently reviewed by a Foot and Ankle surgeon. To get to this point, the patient journey involves several hospital departments. In nearby trusts, patients reattend for a scan and go to the plaster room both before and after the ultrasound for removal and re-application of the cast. At a third visit to the hospital, the surgeon and patient discuss options for definitive treatment. It may take 2-3 weeks from the initial Emergency Department visit before the final treatment decision is made. This “wasted time” is ultimately added to the recovery period for the patient. In this hospital, Achilles rupture patients are seen in a weekly multidisciplinary OneStop Heel Pain clinic. This pathway was already efficient but subject to occasional frustrating delays if a key staff member was absent. A new pathway was introduced with the goal to reduce delays to a definitive treatment plan. Method: A retrospective series of Achilles tendon ruptures managed according to the 2019 protocol was identified. Time taken from the Emergency Department to have both an ultrasound scan and specialist Foot and Ankle surgical review were calculated. 30 consecutive patients were treated with our new pathway and prospectively followed. The time taken for a scan and for specialist review were compared to the 30 consecutive cases from the 2019 (pre-COVID) cohort. The new pathway includes 1. A new contoured splint applied to the front of the injured limb held with a bandage. This can be removed and replaced (unlike a plaster cast) in the ultrasound department, removing the need for plaster room visits. 2. Urgent triage to a Foot and Ankle specialist. 3. Ultrasound scan for assessment of rupture gap and deep vein thrombosis check. 4. Early decision regarding surgery. Transfer to weight bearing in a prosthetic boot in equinuswithout waiting for the once-a-week clinic. 5. Extended oral VTE prophylaxis. Results: The time taken for a patient to have both an ultrasound scan and specialist review fell > 50%. All patients in the new pathway reached a definitive treatment decision within one week. There were no significant differences in patient demographics or rates of surgical vs non-operative treatment. The mean time from Emergency Department visit to specialist review and ultrasound scan fell from 8.7 days (old protocol) to 2.9 days (new pathway). The maximum time for this fell from 23 days (old protocol) to 6 days (new pathway). Conclusion: Teamwork and innovation have improved the experience for patients with an Achilles tendon rupture. The new pathway brings many advantages - reduced time in the Emergency Department, fewer hospital visits, less time using crutches and reduced overall recovery time.

Keywords: orthopaedics, achilles rupture, ultrasound, innovation

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Authors: Sherry Robinson, Hans Anton Stubberud

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Entrepreneurship can take many forms. Traditional entrepreneurs seek profits and growth for the businesses they start themselves. Intrapreneurs act entrepreneurially within a business they do not own. Social entrepreneurs have goals other than (but not excluding) profit and growth as they seek to solve social problems or protect the environment. This type of entrepreneur often focuses on the triple bottom line, which includes a concern for people and the planet as well as profit. Ecopreneurs in particular are driven by their desire to create and promote environmentally sustainable products and processes. All of these entrepreneurs need an entrepreneurial orientation in order to survive and thrive. The three most common elements of an entrepreneurial orientation are (1) creativity and innovation, (2) the willingness to take risks and (3) the proactiveness to put ideas into action. This study describes an interdisciplinary entrepreneurship course integrating topics regarding the triple bottom line with those relevant to an entrepreneurial orientation. The results show that students significantly increased their skill levels in many areas, including soft skills such as communicating and working in teams, as well as designing innovative products and taking calculated risk.

Keywords: creativity, entrepreneurship education, sustainability, triple bottom line

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Authors: G. Malumbela, E. U. Masuku

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The economy of Botswana has increased extensively since its independence. In contrast to this increase, the construction industry which is one of the key indicators of a developing nation continues to be highly dependent on imported building material products from the neighbouring countries of South Africa, Namibia, Zimbabwe, and Zambia. Only two companies in the country currently blend cement. Even then, the overwhelming majority of raw materials used in the blends are imported. Furthermore, there are no glass manufacturers in Botswana. The ceramic industry is limited to the manufacture of clay bricks notwithstanding a few studios on crockery and sanitary ware which nonetheless use imported clay. This paper presents natural resources and industrial waste products in Botswana that can be used for the development of sustainable building materials. It also investigates at the distribution and cost of other widely used building materials in the country. Finally, the present paper looks at projects and national strategies aimed at a country-wide development of a sustainable building materials industry together with their successes and hitches.

Keywords: Botswana construction industry, construction materials, natural resources, sustainable materials

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Authors: Roger L. Goodwin

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The US Consumer Price Indices (CPIs) measures hundreds of items in the US economy. Many social programs and government benefits index to the CPIs. In mid to late 1990, much research went into changes to the CPI by a Congressional Advisory Committee. One thing can be said from the research is that, aside from there are alternative estimators for the CPI; any fundamental change to the CPI will affect many government programs. The purpose of this project is to modernize an existing process. This paper will show the development of a small, visual, software product that documents the Economic Price Adjustment (EPA) for long-term contracts. The existing workbook does not provide the flexibility to calculate EPAs where the base-month and the option-month are different. Nor does the workbook provide automated error checking. The small, visual, software product provides the additional flexibility and error checking. This paper presents the feedback to project.

Keywords: Consumer Price Index, Economic Price Adjustment, contracts, visualization tools, database, reports, forms, event procedures

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Authors: Marcos Centurion-Vicencio

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This study discusses the idea of ‘dominance’ in economic policy and its practical influence over monetary decisions. The discretionary use of repurchase agreements in Brazil over the period 2006-2016 and its effects on the overall price level are the specific issues we will be focusing on. The set of in-depth interviews carried out with public servants at the Brazilian central bank and national treasury, alongside data collected from the National Institution of Statistics (IBGE), suggest that monetary and fiscal dominance do not differ in nature once the assumption of depoliticized central bankers is relaxed. In both regimes, the pursuit of private gains via public institutions affects price stability. While short-sighted politicians in the latter are at the origin of poor monetary decisions, the action of short-sighted financial interest groups is likely to generate a similar outcome in the former. This study then contributes to rethinking monetary policy theory as well as the nature of public borrowing.

Keywords: fiscal and monetary interactions, interest groups, monetary capture, public borrowing

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Authors: John Doe

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This paper presents the research project “Escape Through Culture”, which is co-funded by the European Union and national resources through the Operational Programme “Competitiveness, Entrepreneurship and Innovation” 2014-2020 and the Single RTDI State Aid Action "RESEARCH - CREATE - INNOVATE". The project implementation is assumed by three partners, (1) the Computer Technology Institute and Press "Diophantus" (CTI), experienced with the design and implementation of serious games, natural language processing and ICT in education, (2) the Laboratory of Environmental Communication and Audiovisual Documentation (LECAD), part of the University of Thessaly, Department of Architecture, which is experienced with the study of creative transformation and reframing of the urban and environmental multimodal experiences through the use of AR and VR technologies, and (3) “Apoplou”, an IT Company with experience in the implementation of interactive digital applications. The research project proposes the design of innovative infrastructure of digital educational escape games for mobile devices and computers, with the use of Virtual Reality and Augmented Reality for the promotion of Greek cultural heritage in Greece and abroad. In particular, the project advocates the combination of Greek cultural heritage and literature, digital technologies advancements and the implementation of innovative gamifying practices. The cultural experience of the players will take place in 3 layers: (1) In space: the digital games produced are going to utilize the dual character of the space as a cultural landscape (the real space - landscape but also the space - landscape as presented with the technologies of augmented reality and virtual reality). (2) In literary texts: the selected texts of Greek writers will support the sense of place and the multi-sensory involvement of the user, through the context of space-time, language and cultural characteristics. (3) In the philosophy of the "escape game" tool: whether played in a computer environment, indoors or outdoors, the spatial experience is one of the key components of escape games. The innovation of the project lies both in the junction of Augmented/Virtual Reality with the promotion of cultural points of interest, as well as in the interactive, gamified practices of literary texts. The digital escape game infrastructure will be highly interactive, integrating the projection of Greek landscape cultural elements and digital literary text analysis, supporting the creation of escape games, establishing and highlighting new playful ways of experiencing iconic cultural places, such as Elefsina, Skiathos etc. The literary texts’ content will relate to specific elements of the Greek cultural heritage depicted by prominent Greek writers and poets. The majority of the texts will originate from Greek educational content available in digital libraries and repositories developed and maintained by CTI. The escape games produced will be available for use during educational field trips, thematic tourism holidays, etc. In this paper, the methodology adopted for infrastructure development will be presented. The research is based on theories of place, gamification, gaming development, making use of corpus linguistics concepts and digital humanities practices for the compilation and the analysis of literary texts.

Keywords: escape games, cultural landscapes, gamification, digital humanities, literature

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Authors: GüLcan Keskin

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In a globalizing world, it is more difficult for developing counties to gain a competitive advantage compared to developed countries. Entrepreneurship is an important factor for economic growth in developing countries. Entrepreneurship is not only in the success of an entrepreneur’s own businesses, but also plays an important role in regional and national development. Entrepreneurship is the factor that triggers change for the country to accelerate the creation, dissemination, and implementation of new thoughts, leading to the emergence of industries that supports economic growth and development as it increases productivity by creating a competitive advantage. Therefore, it is an important factor for countries to develop economically and socially in a global world. As the know-how of the local products belongs to the region, it is a value that should not be lost. Having know-how provides a competitive advantage to the region. On the other hand, traditional products can be tailored to today’s trade understanding to appeal to more audiences. The primary aim of the study is to examine the interaction mechanism between traditional products and innovation in the context of related literature. The second aim of the study is to show the effect the traditional products to competitive advantage.

Keywords: e-commerce, economic growth, entrepreneurship, traditional products

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Authors: Y. Benabid, K. Benfriha, V. Rieuf, J. F. Omhover

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This paper describes an approach to create custom concepts for innovative products; this approach describes relations between innovation tools and Computer Aided Design environment (use creativity session and design tools). A model for the design process is proposed and explored in order to describe the power tool used to create and ameliorate an innovative product all based upon a range of data (cloud points) in this study. Comparison between traditional method and innovative method we help to generate and put forward a new model of the design process in order to create a custom Ankle Foot Orthosis (AFO) in a CAD environment in order to ameliorate and controlling the motion. The custom concept needs big development in different environments; the relation between these environments is described. The results can help the surgeons in the upstream treatment phases. CAD models can be applied and accepted by professionals in the design and manufacture systems. This development is based on the anatomy of the population of North Africa.

Keywords: ankle foot orthosis, CAD, reverse engineering, sketch

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Authors: Nynne Nørup, Julie Helles Eriksen, Rikke M. Moalem, Else Skjold

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Despite a growing focus on the high environmental impact of textiles, textile waste is only recently considered as part of the waste field. Consequently, there is a general lack of knowledge and data within this field. Particularly the lack of a common perception of textiles generates several problems e.g., to recognize the full material potential the fraction contains, which is cruel if the textile must enter the circular economy. This study aims to qualify a method to make the resources in textile waste visible in a way that makes it possible to move them as high up in the waste hierarchy as possible. Textiles are complex and cover many different types of products, fibers and combinations of fibers and production methods. In garments alone, there is a great variety, even when narrowing it to only undergarments. However, textile waste is often reduced to one fraction, assessed solely by quantity, and compared to quantities of other waste fractions. Disregarding the complexity and reducing textiles to a single fraction that covers everything made of textiles increase the risk of neglecting the value of the materials, both with regards to their properties and economical. Instead of trying to fit textile waste into the current primarily linear waste system where volume is a key part of the business models, this study focused on integrating textile waste as a resource in the design and production phase. The study combined interdisciplinary methods for determining replacement rates used in Life Cycle Assessments and Mass Flow Analysis methods with the designer’s toolbox to hereby activate the properties of textile waste in a way that can unleash its potential optimally. It was hypothesized that by activating Denmark's tradition for design and high level of craftsmanship, it is possible to find solutions that can be used today and create circular resource models that reduce the use of virgin fibers. Through waste samples, case studies, and testing of various design approaches, this study explored how to functionalize the method so that the product after the end-use is kept as a material and only then processed at fiber level to obtain the best environmental utilization. The study showed that the designers' ability to decode the properties of the materials and understanding of craftsmanship were decisive for how well the materials could be utilized today. The later in the life cycle the textiles appeared as waste, the more demanding the description of the materials to be sufficient, especially if to achieve the best possible use of the resources and thus a higher replacement rate. In addition, it also required adaptation in relation to the current production because the materials often varied more. The study found good indications that part of the solution is to use geodata i.e., where in the life cycle the materials were discarded. An important conclusion is that a fully developed method can help support better utilization of textile resources. However, it stills requires a better understanding of materials by the designers, as well as structural changes in business and society.

Keywords: circular economy, development of sustainable processes, environmental impacts, environmental management of textiles, environmental sustainability through textile recycling, interdisciplinary method development, resource optimization, recycled textile materials and the evaluation of recycling, sustainability and recycling opportunities in the textile and apparel sector

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Authors: Mitra Ghiasi, Roghayeh Ghorbani Bousari

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Nowadays, the aim of the organizations is to gain sustainable competitive. So, developing their intellectual capital, encouraging innovation, increasing suitable performance can be done by knowledge management. Knowledge turns into science if knowledge is used to improve decision making, decision quality and make effective decisions. The current research intends to investigate the relationship between cybernetics and knowledge management from the perspective of users who are members of electronic discussion groups (ALA, ALIA). The research methodology is survey method, and it is a type of correlation research. Cybernetics and knowledge management questionnaires used for collecting data. The questionnaire that was designed in electronic format, distributed among two electronic discussion groups during 30 days and completed by 100 members of each electronic discussion groups. The finding of this research showed that although cybernetics has an impact on knowledge management, there is no significant difference between the ALA and ALIA user's view regard to effect of cybernetics on knowledge management. The results also indicated that this conceptual model is consistent with the data collected from the sample.

Keywords: ALA discussion group, ALIA discussion group, cybernetics, knowledge management

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Authors: Emrah Yildirim, Veli Ortacesme

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Manavgat region, located in Antalya province at South Turkey, has hosted many civilizations throughout the centuries. All of these civilizations cultivated the land in their surroundings by engaging in agriculture, livestock production and hunting. In the last 50 years, there have been dramatic changes in the region. The economy of the region switched from the agriculture to tourism. Due to the increase in the irrigable agricultural lands, several dams were built on Manavgat River. Developments in the agricultural mechanization and new product needs have changed the pattern of agriculture and regional landscape. Coastal zone of the region has transformed to tourism areas, Manavgat Town Center has grown up and the urbanization in general has increased. The population and urbanization have increased by 257 % and 276 %, respectively. The tourism and commercial areas cover 561,8 hectares today. All these developments had some negative effects on the environment. In this study, land use/land cover transformations were studied in Manavgat region by using aerial photos. The reasons and consequences of the land use transformations were discussed, and some recommendations regarding the sustainable use of this region’s landscape will be shared.

Keywords: land use, Manavgat region, south Turkey, transformation

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Authors: Sirus Sharifi, Arunima Haldar, S. V. D. Nageswara Rao

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This research analyzes the effect of credit risk management practices of commercial banks in India and the relationship with their non-performing assets (NPAs). Required data on credit risk performance was collected through a survey questionnaire from top risk officers of 38 Indian banks. NPA data (period from 2012 to 2016) was collected from Prowess database compiled by the Centre for Monitoring Indian Economy (CMIE). The model was assessed utilizing cross sectional regression method. As expected, the results indicate a negative significant relationship between credit risk management in India banks and their NPA growth. The research has implications for banks given the high level of losses in India and other economies as well, and the implementation of Basel III standards by the central banks. This research would be an evidence on credit risk performance and its relationship with the level of non-performing assets (NPAs) in Indian banks.

Keywords: risk management, risk identification, banks, Non-Performing Assets (NPAs)

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Authors: Ana Paula Vilas Boas Viveiros Lopes, Marly Monteiro de Carvalho

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The new product development for decades has favored companies that can put their products to market quickly and efficiently, providing sustainable competitive advantage difficult to be achieved by their competitors. This paper presents the outcomes of a systematic review of the literature relating to new product development that was published between 1992 and 2012. A hybrid methodological approach that combines bibliometrics, content analysis and semantic analysis was applied. The review discusses the publication patterns, focusing on aspects related to scientific collaboration. The results show that the main academic journal that discusses this theme is “Journal of Product Innovation Management”. Although the first paper relating to this theme was published in 1992, the number of publications on the subject only began to increase substantially in 1999. Most of the studies reviewed in this paper applied qualitative research methods, indicating that most of the research on the theme is still in an exploratory phase.

Keywords: project type, project typology, new product development, sustainable competitive advantage

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Authors: Luis A. Paipa-Galeano, Yavar Jarrah-Nezhad, César A. Bernal-Torres

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This paper presents a case study of four companies in an emerging economy to identify the key success factors and barriers to sustaining continuous improvement practices. The study analyzes the empirical evidence and compares it to the literature review to provide insights for companies looking to increase their maturity level in this area. The five success factors identified are the availability of resources, commitment and support from management, participation of employees in identifying tasks to improve, clear and realistic objectives for continuous improvement, and the existence of a leader or responsible for continuous improvement. The major barriers to success are a lack of alignment between the organization’s strategic objectives and continuous improvement objectives, a lack of motivation in the team, and resistance to change. The paper concludes with recommendations for companies to reduce the risk of improvement failure and increase their maturity level in continuous improvement.

Keywords: emerging economies, Kaizen, continuous improvement sustainability, maturity model

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Authors: Mayar A. Omar, Ismail Gomaa, Heba Badawy, Hosam Moubarak

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Enterprise resource planning (ERP) is an integrated system that helps companies in managing their resources. There are two types of ERP systems, traditional ERP systems and cloud ERP systems. Cloud ERP systems were introduced after the development of cloud computing technology. This research aims to identify the factors that affect the adoption of cloud ERP in Egyptian companies. Moreover, the aim of our study is to provide guidance to Egyptian companies in the cloud ERP adoption decision and to participate in increasing the number of cloud ERP studies that are conducted in the Middle East and in developing countries. There are many factors influencing the adoption of cloud ERP in Egyptian organizations, which are discussed and explained in the research. Those factors are examined by combining the diffusion of innovation theory (DOI) and technology-organization-environment framework (TOE). Data were collected through a survey that was developed using constructs from the existing studies of cloud computing and cloud ERP technologies and was then modified to fit our research. The analysis of the data was based on structural equation modeling (SEM) using Smart PLS software that was used for the empirical analysis of the research model.

Keywords: cloud computing, cloud ERP systems, DOI, Egypt, SEM, TOE

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Authors: Mohammad Irfan

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The purpose of this paper is to investigate the relationship among the key macroeconomic variables and Islamic stock market in India. This study is based on the time series data of financial years 2009-2015 to explore the consistency of relationship between macroeconomic variables and Shariah Indices. The ADF (Augmented Dickey–Fuller Test Statistic) and PP (Phillips–Perron Test Statistic) tests are employed to check stationarity of the data. The study depicts the long run relationship between Shariah indices and macroeconomic variables by using the Johansen Co-integration test. BSE Shariah and Nifty Shariah have uni-direct Granger causality. The outcome of VECM is significantly confirming the applicability of best fitted model. Thus, Islamic stock indices are proficiently working for the development of Indian economy. It suggests that by keeping eyes on Islamic stock market which will be more interactive in the future with other macroeconomic variables.

Keywords: Indian Shariah Indices, macroeconomic variables, co-integration, Granger causality, vector error correction model (VECM)

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Authors: Mohammad Hadi Mahmoodi, Elahe Saedpanah

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Since pronunciation is among those factors that can have strong effects on EFL learners’ successful communication, instructional programs with accurate pronunciation purposes seem to be a necessity in any L2 teaching context. The widespread use of smart mobile phones brings with itself various educational applications, which can assist foreign language learners in learning and speaking another language other than their L1. In line with this supportive innovation, the present study investigated the role of LDOCE (Longman Dictionary of Contemporary English), a mobile application, on improving Iranian EFL learners’ pronunciation accuracy. To this aim, 40 EFL learners studying English at the intermediate level participated in the current study. This was an experimental research with two groups of 20 students in an experimental and a control group. The data were collected through the administration of a pronunciation pretest before the instruction and a post-test after the treatment. In addition, the assessment was based on the pupils’ recorded voices while reading the selected words. The results of the independent samples t-test indicated that using LDOCE significantly affected Iranian EFL learners' pronunciation accuracy with those in the experimental group outperforming their control group counterparts.

Keywords: LDOCE, EFL learners, pronunciation accuracy, CALL, MALL

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Authors: J. BalaRaju, M. Govinda Raj, C. S. N. Murthy

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Every organization in the competitive world tends to improve its economy by increasing their production and productivity rates. Unequivocally, the production in Indian underground mines over the years is not satisfactory, due to a variety of reasons. There are manifold of avenues for the betterment of production, and one such approach is through enhanced utilization of mechanized equipment such as Load Haul Dumper (LHD). This is used as loading and hauling purpose in underground mines. In view of the aforementioned facts, this paper delves into identification of the key influencing factors such as LHDs maintenance effectiveness, vehicle condition, operator skill and utilization of the machines on performance of LHDs. An attempt has been made for improvement of performance of the equipment through evaluation of Overall Equipment Effectiveness (OEE). Two different approaches for evaluation of OEE have been adopted and compared under various operating conditions. The use of OEE calculation in terms of percentage availability, performance and quality and the hitherto existing situation of the underground mine production is evaluated. Necessary recommendations are suggested to mining industry on the basis of OEE.

Keywords: utilization, maintenance, availability, performance and quality

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Authors: Lei Guo, Xu Zhang, Weigang Hou

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Since the traditional network is closed and it has no architecture to create applications, it has been unable to evolve with changing demands under the rapid innovation in services. Additionally, due to the lack of the whole network profile, the quality of service cannot be well guaranteed in the traditional network. The Software Defined Network (SDN) utilizes global resources to support on-demand applications/services via open, standardized and programmable interfaces. In this paper, we implement the traffic grooming application under a real SDN environment, and the corresponding analysis is made. In our SDN: 1) we use OpenFlow protocol to control the entire network by using software applications running on the network operating system; 2) several virtual switches are combined into the data forwarding plane through Open vSwitch; 3) An OpenFlow controller, NOX, is involved as a logically centralized control plane that dynamically configures the data forwarding plane; 4) The traffic grooming based on SDN is demonstrated through dynamically modifying the idle time of flow entries. The experimental results demonstrate that the SDN-based traffic grooming effectively reduces the end-to-end delay, and the improvement ratio arrives to 99%.

Keywords: NOX, OpenFlow, Software Defined Network (SDN), traffic grooming

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Authors: Maria Luskova, Maria Hudakova, Katarina Buganova

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Established objective and subjective preconditions for entrepreneurship, forming the business organically related whole, are the necessary condition of successful entrepreneurial activities. Objective preconditions for entrepreneurship are developed by the market economy that should stimulate entrepreneurship by allowing the use of economic opportunities for all those who want to do business in respective field while providing guarantees to all owners and creating a stable business environment for entrepreneurs. Subjective preconditions of entrepreneurship are formed primarily by personal characteristics of the entrepreneur. These are his properties, abilities, skills, physiological, and psychological preconditions which may be inherited, inborn or sequentially developed and obtained during his life on the basis of education and influences of surrounding environment. The paper is dealing with issues of objective and subjective preconditions for entrepreneurship and provides their analysis in view of the current situation in Slovakia. It presents risks of the business environment in Slovakia that the Slovak managers considered the most significant in 2014 and defines the dominant attributes of the entrepreneur in the current business environment in Slovakia.

Keywords: entrepreneurship, innovations, opportunity, risk, uncertainty

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Authors: Samira Alvandi

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In the context of the circular economy, production planning aims to eliminate waste and emissions and maximize resource efficiency. Historically production planning is challenged through arrays of uncertainty and complexity arising from the interdependence and variability of products, processes, and systems. Manufacturers worldwide are facing new challenges in tackling various environmental issues such as climate change, resource depletion, and land degradation. In managing the inherited complexity and uncertainty and yet maintaining profitability, the manufacturing sector is in need of a holistic framework that supports energy efficiency and carbon emission reduction schemes. The proposed framework addresses the current challenges and integrates simulation modeling with optimization for finding optimal machine-job allocation to maximize throughput and total energy consumption while minimizing lead time. The aluminium refinery facility in western Sydney, Australia, is used as an exemplar to validate the proposed framework.

Keywords: smart production planning, simulation-optimisation, energy aware capacity planning, energy intensive industries

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Authors: Anna M. Pretorius

Abstract:

The emerging markets category for portfolio investment was introduced in 1986 in an attempt to promote capital market development in less developed countries. Investors traditionally diversified their portfolios by investing in different developed markets. However, high growth opportunities forced investors to consider emerging markets as well. Examples include the rapid growth of the “Asian Tigers” during the 1980s, growth in Latin America during the 1990s and the increased interest in emerging markets during the global financial crisis. As such, portfolio flows to emerging markets have increased substantially. In 2002 7% of all equity allocations from advanced economies went to emerging markets; this increased to 20% in 2012. The stronger links between advanced and emerging markets led to increased synchronization of asset price movements. This increased level of stock market integration for emerging markets is confirmed by various empirical studies. Against the background of increased interest in emerging market assets and the increasing level of integration of emerging markets, this paper focuses on the determinants of stock market integration of emerging market countries. Various studies have linked the level of financial market integration with specific economic variables. These variables include: economic growth, local inflation, trade openness, local investment, budget surplus/ deficit, market capitalization, domestic bank credit, domestic institutional and legal environment and world interest rates. The aim of this study is to empirically investigate to what extent trade-related determinants have an impact on stock market integration. The panel data sample include data of 16 emerging market countries: Brazil, Chile, China, Colombia, Czech Republic, Hungary, India, Malaysia, Pakistan, Peru, Philippines, Poland, Russian Federation, South Africa, Thailand and Turkey for the period 1998-2011. The integration variable for each emerging stock market is calculated as the explanatory power of a multi-factor model. These factors are extracted from a large panel of global stock market returns. Trade related explanatory variables include: exports as percentage of GDP, imports as percentage of GDP and total trade as percentage of GDP. Other macroeconomic indicators – such as market capitalisation, the size of the budget deficit and the effectiveness of the regulation of the securities exchange – are included in the regressions as control variables. An initial analysis on a sample of developed stock markets could not identify any significant determinants of stock market integration. Thus the macroeconomic variables identified in the literature are much more significant in explaining stock market integration of emerging markets than stock market integration of developed markets. The three trade variables are all statistically significant at a 5% level. The market capitalisation variable is also significant while the regulation variable is only marginally significant. The global financial crisis has highlighted the urgency to better understand the link between the financial and real sectors of the economy. This paper comes to the important finding that, apart from the level of market capitalisation (as financial indicator), trade (representative of the real economy) is a significant determinant of stock market integration of countries not yet classified as developed economies.

Keywords: emerging markets, financial market integration, panel data, trade

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Authors: M. C. Theong, F. L. Ang, G. J. Muga

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Growth of firms is influenced by environmental changes such as the global and national economy. On the other hand, it indicates the economic situation of a country. Therefore, it is imperative for firms to be sensitive to changes and to stay competitive and remain compatible with the environment. The Malaysian construction industry is prone to environmental changes due to its complexity. In order to survive in the construction industry, focus on the development of the firms themselves to achieve long term their long term goals is vital besides maximizing profits. The objective of this paper is to measure growth of the public listed construction companies in Malaysia and to investigate the development of the companies with highest, moderate and lowest growth. Growth is measured based on the companies' sales between year 2008 and 2012 collected via secondary data collection method. Findings show that the highest average growth created is 235.20 % while the lowest average growth is -22.75%. The construction companies remained active in the construction industry by implementing different sets of strategies and involving in several types of construction projects.

Keywords: growth, Malaysian construction industry, public listed companies, sales

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Authors: Nellija Titova

Abstract:

Latvia, Lithuania, and Estonia, as Baltic Countries, have gone throughout transformational changes since 90s leading to the high level of economic development. As countries departing Soviet Union with industrialization policy moved to service economies, the issues of intangibles, human capital, structural capital, and innovation capital have gained impetus. Following the growing demand of practitioners and later academia, intellectual capital as a discipline, which appeared in 90s, became fundamental nowadays. Aim of the paper is to analyze the Baltic companies entering stock markets at Nasdaq Baltic from the perspective of Intellectual Capital. Methodology of the research is based on a longitudinal analysis of the companies using composite ratios of Intellectual Capital and Business performance in the period 2012-2019. Data for 2020 as COVID year) were excluded from the analysis. Findings allow concluding there is a pattern of influence and companies clearly experience the systemic impact of IC on business performance, identifying also time effect investing in intangibles.

Keywords: intellectual capital, impact analysis, longitudinal effect, composite ratios

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Authors: Rosa Nadine Danenberg

Abstract:

In recent years, bottom-up urban development has started growing as an alternative to conventional top-down planning. In large proportions, citizens and communities initiate small-scale interventions; suddenly seeming to form a trend. As a result, more and more cities are witnessing not only the growth of but also an interest in these initiatives, as they bear the potential to reshape urban spaces. Such alternative city-making efforts cause new dynamics in urban governance, with inevitable consequences for the controlled city planning and its administration. The emergence of enabling relationships between top-down and bottom-up actors signals an increasingly common urban practice. Various case studies show that an enabling relationship is possible, yet, how it can be optimally realized stays rather underexamined. Therefore, the seemingly growing worldwide phenomenon of ‘municipal bottom-up urban development’ necessitates an adequate governance structure. As such, the aim of this research is to contribute knowledge to how municipalities can enable citizen-led urban initiatives from a governance innovation perspective. Empirical case-study research in Stockholm and Istanbul, derived from interviews with founders of four citizen-led urban initiatives and one municipal representative in each city, provided valuable insights to possibilities and constraints for enabling practices. On the one hand, diverging outcomes emphasize the extreme oppositional features of both cases (Stockholm and Istanbul). Firstly, both cities’ characteristics are drastically different. Secondly, the ideologies and motifs for the initiatives to emerge vary widely. Thirdly, the major constraints for citizen-led urban initiatives to relate to the municipality are considerably different. Two types of municipality’s organizational structures produce different underlying mechanisms which demonstrate the constraints. The first municipal organizational structure is steered by bureaucracy (Stockholm). It produces an administrative division that brings up constraints such as the lack of responsibility, transparency and continuity by municipal representatives. The second structure is dominated by municipal politics and governmental hierarchy (Istanbul). It produces informality, lack of transparency and a fragmented civil society. In order to cope with the constraints produced by both types of organizational structures, the initiatives have adjusted their organization to the municipality’s underlying structures. On the other hand, this paper has in fact also come to a rather unifying conclusion. Interestingly, the suggested possibilities for an enabling relationship underline converging new urban governance arrangements. This could imply that for the two varying types of municipality’s organizational structures there is an accurate governance structure. Namely, the combination of a neighborhood council with a municipal guide, with allowance for the initiatives to adopt a politicizing attitude is found as coinciding. Especially its combination appears key to redeem varying constraints. A municipal guide steers the initiatives through bureaucratic struggles, is supported by coproduction methods, while it balances out municipal politics. Next, a neighborhood council, that is politically neutral and run by local citizens, can function as an umbrella for citizen-led urban initiatives. What is crucial is that it should cater for a more entangled relationship between municipalities and initiatives with enhanced involvement of the initiatives in decision-making processes and limited involvement of prevailing constraints pointed out in this research.

Keywords: bottom-up urban development, governance innovation, Istanbul, Stockholm

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