Search results for: competitiveness portfolio

Authors: Ming Luo

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In this real world, a manufacturer may produce more than one product. The products produced by the same manufacturer may share the same type of parts, similar design, and be produced in the same factory, i.e. some common causes. From the perspective of warranty management, the frequencies of those products’ warranty claims may have statistical dependence caused by the common causes. Warranty policy optimisation in the existing research, majorly, has not considered such dependence, which may increase bias in decision making. In the market, renewing warranty policies are provided to some unrepairable products and consumer electronic products. This paper optimises the renewing warranty policy collectively in a multi-product scenario with a consideration of the dependence among the warranty claims of the products produced by the same manufacturer. The existence of the optimal solution is proved. Numerical examples are used to validate the applicability of the proposed methods.

Keywords: mean-risk framework, modern portfolio theory, renewing warranty policy, warranty policy optimisation

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Authors: M. Benjamin Stacey

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Energy efficiency has been increasingly recognized as a high value resource through state policies that require utility companies to implement efficiency programs. While policymakers have recognized the statewide economic, environmental, and health related value to residents who rely on this grid supplied resource, varying interests in energy efficiency between socioeconomic groups stands undifferentiated in most state legislation. Instead, the benefits are oftentimes assumed to be distributed equitably across these groups. Despite this fact, these policies are frequently sited by advocacy groups, regulatory bodies and utility companies for their ability to address the negative financial, health and other social impacts of energy poverty in low income communities. Yet, while most states like Michigan require programs that target low income consumers, oftentimes no requirements exist for the equitable investment and energy savings for low income consumers, nor does it stipulate minimal spending levels on low income programs. To further understand the impact of the absence of these factors in legislation, this study examines the distribution of program funds and energy efficiency savings to answer a fundamental energy justice concern; Are there disparities in the investment and benefits of energy efficiency programs between socioeconomic groups? This study compiles data covering the history of Michigan’s Energy Efficiency policy implementation from 2010-2016, analyzing the energy efficiency portfolios of Michigan’s two main energy providers. To make accurate comparisons between these two energy providers' investments and energy savings in low and non-low income programs, the socioeconomic variation for each utility coverage area was captured and accounted for using GIS and US Census data. Interestingly, this study found that both providers invested more equitably in natural gas efficiency programs, however, together these providers invested roughly three times less per household in low income electricity efficiency programs, which resulted in ten times less electricity savings per household. This study also compares variation in commission approved utility plans and actual spending and savings results, with varying patterns pointing to differing portfolio management strategies between companies. This study reveals that for the history of the implementation of Michigan’s Energy Efficiency Policy, that the 35% of Michigan’s population who qualify as low income have received substantially disproportionate funding and energy savings because of the policy. This study provides an overview of results from a social perspective, raises concerns about the impact on energy poverty and equity between consumer groups and is an applicable tool for law makers, regulatory agencies, utility portfolio managers, and advocacy groups concerned with addressing issues related to energy poverty.

Keywords: energy efficiency, energy justice, low income, state policy

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Authors: Valencia P. L. Rodrigo, Morita A. Adelina, Vargas V. Martin

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This proposal consists of an analysis of macro concepts involved within an organization growth using educational technologies, which will relate each concept, in a mathematical way with a vision of harmonic work. Working collaboratively, competitively and cooperatively so that this growth is harmonious and homogenous, coining a new term, Harmonic Work. The Harmonic Work ensures that the organization grows in all business directions, allowing managers to project a much more accurate growth, making clear the contribution of each department, resulting in an algorithm that analyzes each of the variables both endogenous and exogenous, establishing different performance indicators in its process of growth.

Keywords: business projection, collaboration, competitiveness, educational technology, harmonious growth

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Authors: Linda Kauškale, Ineta Geipele

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Due to the rapidly changing external environment, portfolio management strategies became closely interconnected with real estate industry development and macroeconomic development tendencies. The aim of the research is to analyze sustainable real estate market development influencing factors, with particular focus on its economic and management aspects that influences real estate investment decisions as well. Scientific literature and article analysis, data analysis, expert evaluation, and other quantitative and qualitative research methods were used in the research. Developed real estate market sustainability model and index analysis approach can be applied by investors and real estate companies in real estate asset management and can help in risk minimization activities in international entrepreneurship. Future research directions have been identified in the research as well.

Keywords: indexes, investment decisions, real estate market, sustainability

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Authors: Ioannis P. Panapakidis, Marios N. Moschakis

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The Greek Energy Market is structured as a mandatory pool where the producers make their bid offers in day-ahead basis. The System Operator solves an optimization routine aiming at the minimization of the cost of produced electricity. The solution of the optimization problem leads to the calculation of the System Marginal Price (SMP). Accurate forecasts of the SMP can lead to increased profits and more efficient portfolio management from the producer`s perspective. Aim of this study is to provide a comparative analysis of various machine learning models such as artificial neural networks and neuro-fuzzy models for the prediction of the SMP of the Greek market. Machine learning algorithms are favored in predictions problems since they can capture and simulate the volatilities of complex time series.

Keywords: deregulated energy market, forecasting, machine learning, system marginal price

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Authors: Manuel Valencia Alejaandro Paz, Luz Nidia Quintero Jairo Palacios

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In present paper a set of technical approaches to improve the energy efficiency in processes controlled by electric motor drive systems EMDS are listed and analyzed. Energy saving becomes fundamental to improve the sustainability and competitiveness of organizations all around the world; increasing costs of electricity had impulse the use of different strategies to reduce the electric power condition. A summary of these techniques is presented and evaluated in the potential for energy saving policies.

Keywords: energy saving, EMDS, induction motor, energy efficiency, sustainability

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Authors: Samuel Atongaba Danji, Veseke Moleke

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The increase of globalization is a very important part of today’s changing environment and due to this, manufacturing industries have to always come up with methods of continuous improvement of their manufacturing methods in order to be competitive, without which may lead them to be left out of the market due to constant changing customers requirement. Due to this, the need is an advance supply chain system which prevents a number of issues that can prevent a company from being competitive. In this work, we developed a feedback control supply chain system which streamline the entire process in order to improve competitiveness and the result shows that when applied in a different geographical area, the output varies.

Keywords: globalization, supply chain, improvement, manufacturing

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Authors: David Pettitt, Benjamin Davies, Georg Holländer, David Brindley

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Cellular based therapies, whose origins can be traced from the intertwined concepts of tissue engineering and regenerative medicine, have the potential to transform the current medical landscape and offer an approach to managing what were once considered untreatable diseases. However, despite a large increase in basic science activity in the cell therapy arena alongside a growing portfolio of cell therapy trials, the number of industry products available for widespread clinical use correlates poorly with such a magnitude of activity, with the number of cell-based therapeutics in mainstream use remaining comparatively low. This research serves to quantitatively assess the barriers to the clinical adoption of cell-based therapeutics through identification of unique barriers, specific challenges and opportunities facing the development and adoption of such therapies.

Keywords: cell therapy, clinical adoption, commercialization, translation

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Authors: Radostina Popova

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The paper presents an analysis of the innovation performance of small and medium-sized furniture enterprises in Bulgaria, accounting for over 97% of the companies in the sector. It contains advanced features of innovation in enterprises, specific features of the furniture industry in Bulgaria and analysis of the results of studies on the topic. The results from studies of three successive periods - 2006-2008; 2008-2010; 2010-2012, during which were studied 594 small and medium-sized furniture enterprises. There are commonly used in the EU definitions and indicators (European Commission, OECD, Oslo Manual), which allows for the comparability of results.

Keywords: innovation activity, competitiveness of innovation, furniture enterprises in Bulgaria

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Authors: Mekkaoui Soumiya, Sadki Assia, Ait Heda Abdellatif

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Territorial marketing is a crucial element in the improvement of the attractiveness and competitiveness of a region, city or country. It is important to identify the different tools that distinguish the area from the other places and use them in order to achieve territorial marketing objectives. This paper tries to present the assets of Argan oil, the endemic terroir product, in the development of the tourism sector in Souss Massa. Starting from the Argan tree forests to the final use of the oil, every stage of the process can be developed as a tourism product in order to make the region more appealing to tourists.

Keywords: territorial marketing, terroir product, rural tourism, ecotourism, Argan oil

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Authors: Raif Parlakkaya, Ahmet Diken, Erkan Kara

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This paper examines the relationship between corporate governance rating and stock prices of 26 Turkish firms listed in Turkish stock exchange (Borsa Istanbul) by using panel data analysis over five-year period. The paper also investigates the stock performance of firms with governance rating with regards to the market portfolio (i.e. BIST 100 Index) both prior and after governance scoring began. The empirical results show that there is no relation between corporate governance rating and stock prices when using panel data for annual variation in both rating score and stock prices. Further analysis indicates surprising results that while the selected firms outperform the market significantly prior to rating, the same performance does not continue afterwards.

Keywords: corporate governance, stock price, performance, panel data analysis

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Authors: Ephraim Daka, Maxim Kotsemir

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The National system Innovation (NSI) have recently proliferated as a vehicle for addressing poverty and national competitiveness in the developing countries. While several governments in Sub-Saharan Africa have adopted the developed countries’ models of innovation to local conditions, the Zambian case is rather unique. This study highlights conceptual and socioeconomic challenges directed to the performances of the NSI. The paper analyses science and technology strategies with the inclusion of “innovation” and its effect towards improving socioeconomic elements. The authors reviewed STI policy and national strategy documents, followed by interviews compared to economical regional and national data sets. The NSI and its related to inter-linkages and support mechanism to socioeconomic development were explored.

Keywords: national system of innovation, socioeconomics, development, Zambia

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Authors: Protik Basu, Indranil Ghosh, Pranab K. Dan

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Lean management is an integrated socio-technical system to bring about a competitive state in an organization. The purpose of this paper is to explore and integrate the role of customers and suppliers with the internal practices of the Indian manufacturing industries towards successful implementation of lean manufacturing (LM). An extensive literature survey is carried out. An attempt is made to build an exhaustive list of all the input manifests related to customers, suppliers and internal practices necessary for LM implementation, coupled with a similar exhaustive list of the benefits accrued from its successful implementation. A structural model is thus conceptualized, which is empirically validated based on the data from the Indian manufacturing sector. With the current impetus on developing the industrial sector, the Government of India recently introduced the Lean Manufacturing Competitiveness Scheme that aims to increase competitiveness with the help of lean concepts. There is a huge scope to enrich the Indian industries with the lean benefits, the implementation status being quite low. Hardly any survey-based empirical study in India has been found to integrate customers and suppliers with the internal processes towards successful LM implementation. This empirical research is thus carried out in the Indian manufacturing industries. The basic steps of the research methodology followed in this research are the identification of input and output manifest variables and latent constructs, model proposition and hypotheses development, development of survey instrument, sampling and data collection and model validation (exploratory factor analysis, confirmatory factor analysis, and structural equation modeling). The analysis reveals six key input constructs and three output constructs, indicating that these constructs should act in unison to maximize the benefits of implementing lean. The structural model presented in this paper may be treated as a guide to integrating customers and suppliers with internal practices to successfully implement lean. Integrating customers and suppliers with internal practices into a unified, coherent manufacturing system will lead to an optimum utilization of resources. This work is one of the very first researches to have a survey-based empirical analysis of the role of customers, suppliers and internal practices of the Indian manufacturing sector towards an effective lean implementation.

Keywords: customer management, internal manufacturing practices, lean benefits, lean implementation, lean manufacturing, structural model, supplier management

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Authors: Daniel J. Patricio Jiménez

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The term 'total compensation’ refers to salary, training, innovation, and development, and of course, motivation; total compensation is an open and flexible system which must facilitate personal and family conciliation and therefore cannot be isolated from social reality. Today, the challenge for any company that wants to have a future is to be sustainable, and women play a ‘special’ role in this. Spain, in its statutory and conventional development, has not given sufficient response to new phenomena such as ‘bonuses’, ‘stock options’ or ‘fringe benefits’ (constructed dogmatically and by court decisions), the new digital reality, where cryptocurrency, new collaborative models and service provision -such as remote work-, are always ahead of the law. To talk about compensation is to talk about the gender gap, and with the entry into force of RD.902 /2020 on 14 April 2021, certain measures are necessary under the principle of salary transparency; the valuation of jobs, the pay register (Rd. 6/2019) and the pay audit, are an example of this. Analyzing the methodologies, and in particular the determination and weight of the factors -so that the system itself is not discriminatory- is essential. The wage gap in Spain is smaller than in Europe, but the sources do not reflect the reality, and since the beginning of the pandemic, there has been a clear stagnation. A living wage is not the minimum wage; it is identified with rights and needs; it is that which, based on internal equity, reflects the competitiveness of the company in terms of human capital. Spain has lost and has not recovered the relative weight of its wages; this is having a direct impact on our competitiveness, consequently on the precariousness of employment and undoubtedly on the levels of extreme poverty. Training is becoming more than ever a strategic factor; the new digital reality requires that each component of the system is connected, the transversality is imposed on us, this forces us to redefine content, to give answers to the new demands that the new normality requires because technology and robotization are changing the concept of employability. The presence of women in this context is necessary, and there is a long way to go. The so-called emotional compensation becomes particularly relevant at a time when pandemics, silence, and disruption, are leaving after-effects; technostress (in all its manifestations) is just one of them. Talking about motivation today makes no sense without first being aware that mental health is a priority, that it must be treated and communicated in an inclusive way because it increases satisfaction, productivity, and engagement. There is a clear conclusion to all this: compensation systems do not respond to the ‘new normality’: diversity, and in particular women, cannot be invisible in human resources policies if the company wants to be sustainable.

Keywords: diversity, gender gap, human resources, sustainability.

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Authors: Dan Cristian Popescu

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The new territorial identities and global dynamics have determined a change of policies of economics, social and cultural development from a vertical to a horizontal approach, which is based on cooperation networks between institutional actors, economic operators or civil society representatives. The European integration has not only generated a different patterns of competitiveness, economic growth, concentration of attractive potential, but also disparities among regions of this country, or even in the countryside within a region. To a better understanding of the dynamics of regional development and the impact of this concept on Romania, I chose as a case study the region Bucharest-Ilfov which is analyzed on the basis of predetermined indicators and of the impact of European programs.

Keywords: regional competition, regional development, rural, urban

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Authors: Javed Ahsan

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Software engineers strive for technical sophistication with a dream of finding commercial success in their start-up business. But they may find their much technically sophisticated software products failing in industry in competition with lesser sophisticated products. This is because of not maintaining a clear focus on complimenting and leading commercial success through technical sophistication. This can be achieved through a software engineering specific product development process suggested in this paper. This process is about evolving a software product through specific phases and iterations until commercial triumph falls on software engineer’s feet.

Keywords: software, product, engineering, commercialization, start-up, competitiveness, industry

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Authors: Nisa Nur Duman, Sümeyya Kiliç

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In global competition conditions, survival of the plants by obtaining competitive advantage relies on the effective usage of existing sources. By this way, the plants can minimize their costs without losing their quality. They also take advantage took advantage on their competitors and enlarge customer portfolio by increasing profit margins. Changing structure of market and customer demands also change the structure of the competition between companies. Furthermore, competition is not only between the companies. By this manner, supply chain and supply chain management get importance by considering company performances. Companies that want to survive, search the ways of decreasing costs and the ways of meeting customer expectations. One of the important tools for reaching these goals is inventory managemet. The best inventory management system is meeting the demands by considering plant goals.

Keywords: Supply chain, inventory management, apparel sector, garment industry

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Authors: Sangyun Han, Minki Kim

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R&D outsourcing is a strategy for acquiring the competitiveness of firms as an open innovation strategy. As increasing total R&D investment of firms, the ratio of amount of R&D outsourcing in it is also increased in Korea. In this paper, we investigate the determinants and effects of R&D outsourcing of firms. Through analyzing the determinants of R&D outsourcing and effect on firm’s performance, we can find some academic and politic issues. Firstly, in the point of academic view, distinguishing the determinants of R&D outsourcing is linked why the firms do open innovation. It can be answered resource based view, core competence theory, and etc. Secondly, we can get some S&T politic implication for transferring the public intellectual properties to private area. Especially, for supporting the more SMEs or ventures, government can get the basement and the reason why and how to make the policies.

Keywords: determinants, effects, R&D, outsourcing

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Authors: Meimei Zheng

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Product personalization could not only bring new profits to companies but also provide the direction of long-term development for companies. However, the characteristics of personalized product cause some new problems. This paper investigates how companies make decisions on the supply of personalized products when facing different customer attitudes to personalized product and service, constraints due to limited capacity and updates of personalized demand information. This study will provide optimal decisions for companies to develop personalized markets, resulting in promoting business transformation and improving business competitiveness.

Keywords: demand forecast updating, limited capacity, personalized products, optimization

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Authors: Jose Luis Solleiro, Rosario Castanon, Laura Elena Martinez

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The State of Mexico is an administrative entity of Mexico, and it is one of the most important territories due to its great economic and social impact for the whole country, especially since it contributes with more than eight of the national Gross Domestic Product (GDP). The State of Mexico has a population of over seventeen million people and host very important business and productive industries such as Automotive, Chemicals, Pharmaceutical, and Agri-food. In 2017, the State Development Plan (Plan Estatal de Desarrollo in Spanish) which is a policy document that rules State's economic actions and integrates the bases for sectoral and regional programs to achieve regional development), raised innovation as a key aspect to boost competitiveness and productivity of the State of Mexico. Therefore, in line with this proposal, in 2018 the Mexican Council for Science and Technology (COMECYT for its acronym in Spanish), an institution in charge of promoting public science and technology policies in the State of Mexico, took actions towards building up the State´s Innovation System. Hence, the main objective of this paper is to review and analyze the process to create RIS in the State of Mexico. We focus on the key elements of the process, the diverse actors that were involved in it, the activities that were carried out and the identification of the challenges, findings, successes, and failures of the intended exercise. The methodology used to analyze the structure of the Innovation System of the State of Mexico is based on two elements: the case study and the research-action approach. The main objective of the paper, the case study was based on semi-structured interviews with key actors who have participated in the process of launching the RIS of the State of Mexico. Additionally, we analyzed the information reports and other documents that were elaborated during the process of shaping the State's innovation system. Finally, the results obtained in the process were also examined. The relevance of this investigation fundamentally rests in two elements: 1) keeping documental record of the process of building a RIS in Mexico; and 2) carrying out the analysis of this case study recognizing the importance of knowledge extraction and dissemination, so that lessons on this matter may be useful for similar experiences in the future. We conclude that in Mexico, documentation and analysis efforts related to the formation of RIS and interaction processes between innovation ecosystem actors are scarce, so documents like are of great importance, especially since it generates a series of findings and recommendations for the building of RIS.

Keywords: regional innovation systems, innovation, development, competitiveness

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Authors: Bi Xiao Fang, Tan Bao Zhen

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Soft skills, core competencies, and generic competencies are exchangeable terminologies often used to represent a similar concept. In the Singapore context, such skills are currently being referred to as Critical Core Skills (CCS). In 2019, SkillsFuture Singapore (SSG) reviewed the Generic Skills and Competencies (GSC) framework that was first introduced in 2016, culminating in the development of the Critical Core Skills (CCS) framework comprising 16 soft skills classified into three clusters. The CCS framework is part of the Skills Framework, and whose stated purpose is to create a common skills language for individuals, employers and training providers. It is also developed with the objectives of building deep skills for a lean workforce, enhance business competitiveness and support employment and employability. This further helps to facilitate skills recognition and support the design of training programs for skills and career development. According to SSG, every job role requires a set of technical skills and a set of Critical Core Skills to perform well at work, whereby technical skills refer to skills required to perform key tasks of the job. There has been an increasing emphasis on soft skills for the future of work. A recent study involving approximately 80 organizations across 28 sectors in Singapore revealed that more enterprises are beginning to recognize that soft skills support their employees’ performance and business competitiveness. Though CCS is of high importance for the development of the workforce’s employability, there is little attention paid to the CCS use and profiling across occupations. A better understanding of how CCS is distributed across the economy will thus significantly enhance SSG’s career guidance services as well as training providers’ services to graduates and workers and guide organizations in their hiring for soft skills. This CCS profiling study sought to understand how CCS is demanded in different occupations. To achieve its research objectives, this study adopted a quantitative method to measure CCS use across different occupations in the Singaporean workforce. Based on the CCS framework developed by SSG, the research team adopted a formative approach to developing the CCS profiling tool to measure the importance of and self-efficacy in the use of CCS among the Singaporean workforce. Drawing on the survey results from 2500 participants, this study managed to profile them into seven occupation groups based on the different patterns of importance and confidence levels of the use of CCS. Each occupation group is labeled according to the most salient and demanded CCS. In the meantime, the CCS in each occupation group, which may need some further strengthening, were also identified. The profiling of CCS use has significant implications for different stakeholders, e.g., employers could leverage the profiling results to hire the staff with the soft skills demanded by the job.

Keywords: employability, skills profiling, skills measurement, soft skills

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Authors: Eduardas Spiriajevas

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Since the end of the 20th century, when Lithuania regained its independence, a process of demographic shrinkage started. Recently, it affects the efficiency of implementation of actions related to regional development policy and geographic scopes of created value added in the regions. The demographic structures of human resources reflect onto the regions and their economic geographic environment. Due to reshaping economies and state reforms on restructuration of economic branches such as agriculture and industry, it affects the economic significance of services’ sector. These processes influence the competitiveness of labor market and its demographic characteristics. Such vivid consequences are appropriate for the structures of human migrations, which affected the processes of demographic ageing of human resources in the regions, especially in peripheral ones. These phenomena of modern times induce the demographic shrinkage of society and its economic geographic characteristics in the actions of regional development and in regional policy. The internal and external migrations of population captured numerous regional economic disparities, and influenced on territorial density and concentration of population of the country and created the economies of spatial unevenness in such small geographically compact country as Lithuania. The processes of territorial reshaping of distribution of population create new regions and their economic environment, which is not corresponding to the main principles of regional policy and its power to create the well-being and to promote the attractiveness for economic development. These are the new challenges of national regional policy and it should be researched in a systematic way of taking into consideration the analytical approaches of regional economy in the context of economic geographic research methods. A comparative territorial analysis according to administrative division of Lithuania in relation to retrospective approach and introduction of method of location quotients, both give the results of economic geographic character with cartographic representations using the tools of spatial analysis provided by technologies of Geographic Information Systems. A set of these research methods provide the new spatially evidenced based results, which must be taken into consideration in reshaping of national regional policy in economic geographic context. Due to demographic shrinkage and increasing differentiation of economic developments within the regions, an input of economic geographic dimension is inevitable. In order to sustain territorial balanced economic development, there is a need to strengthen the roles of regional centers (towns) and to empower them with new economic functionalities for revitalization of peripheral regions, and to increase their economic competitiveness and social capacities on national scale.

Keywords: demographic shrinkage, economic geography, Lithuania, regions

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Authors: Guilherme B. B. Vieira, Rafael M. da Silva, Eliana T. P. Senna, Luiz A. S. Senna, Francisco J. Kliemann Neto

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Given the importance of ports as links in the global supply chains and because they are key elements to induce competitiveness in their hinterlands, the number of studies devoted to port governance, management and operations has increased in the last decades. Some of these studies address the port governance model as an element to improve coordination among the actors of the port logistics chain and to generate a better port performance. In this context, the present study analyzes the governance of Port of Santos through individual interviews with port managers, based on a conceptual model that considers the key dimensions associated with port governance. The results reinforce the usefulness of the applied model and highlight some existing improvement opportunities in the port studied.

Keywords: port governance, model, Port of Santos, managers’ perception

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Authors: Nurlaila Effendy

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Companies in Asia face a number of constraints in tight competitiveness in ASEAN Economic Community 2015 and globalization. An economic capitalism system as an integral part of globalization processing brings broad impacts. They need to improve business performance in globalization and ASEAN Economic Community. Organizational development has quite clearly demonstrated that aligning individual’s personal goals with the goals of the organization translates into measurable and sustained performance improvement. Human capital is a key to achieve company performance. Employee Engagement (EE) creates and expresses themselves physically, cognitively and emotionally to achieve company goals and individual goals. One will experience a total involvement when they undertake their jobs and feel a self integration to their job and organization. A leader plays key role in attaining the goals and objectives of a company/organization. Any Manager in a company needs to have leadership competence and global mindset. As one the of positive organizational behavior developments, psychological capital (PsyCap) is assumed to be one of the most important capitals in the global mindset, in addition to intellectual capital and social capital. Textile companies also need to face a number of constraints in tight competitiveness in regional and global. This research involved 42 managers in two textiles and a spinning companies in a group, in Central Java, Indonesia. It is a quantitative research with Partial Least Squares (PLS) studying job resource (Social Support & Organizational Climate) and Personal Resource (4 dimensions of Psychological Capital & Leadership Competence) as prediction of Employee Engagement, also Employee Engagement and leadership competence as prediction of leader’s performance. The performance of a leader is measured by means of achievement on objective strategies in terms of 4 perspectives (financial and non-financial perspectives) in a Balanced Score Card (BSC). It took one year during a business plan of year 2014, from January to December 2014. The result of this research is there is correlation between Job Resource (coefficient value of Social Support is 0.036 & coefficient value of organizational climate is 0.220) and Personal Resource (coefficient value of PsyCap is 0.513 & coefficient value of Leadership Competence is 0.249) with employee engagement. There is correlation between employee engagement (coefficient value is 0.279) and leadership competence (coefficient value is 0.581) with performance.

Keywords: organizational climate, social support, psychological capital leadership competence, employee engagement, performance, integrated textile companies

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Authors: Wee Tong Liaw, Elaine Wong Yee Sing

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Since 2001, many companies in Singapore have voluntarily participated in the bi-annual Singapore HEALTH Award initiated by the Health Promotion Board of Singapore (HPB). The Singapore HEALTH Award (SHA), is an industry wide award and assessment process. SHA assesses and recognizes employers in Singapore for implementing a comprehensive and sustainable health promotion programme at their workplaces. The rationale for implementing a sustained health promoting workplace and participating in SHA is obvious when company management is convinced that healthier employees, business productivity, and profitability are positively correlated. However, performing research or empirical studies on the impact of a sustained health promoting workplace on stock returns are not likely to yield any interests in the absence of a systematic and independent assessment on the comprehensiveness and sustainability of a health promoting workplace in most developed economies. The principles of diversification and mean-variance efficient portfolio in Modern Portfolio Theory developed by Markowitz (1952) laid the foundation for the works of many financial economists and researchers, and among others, the development of the Capital Asset Pricing Model from the work of Sharpe (1964), Lintner (1965) and Mossin (1966), and the Fama-French Three-Factor Model of Fama and French (1992). This research seeks to support the rationale by studying whether there is a significant relationship or impact of a sustained health promoting workplace on the performance of companies listed on the SGX. The research shall form and test hypotheses pertaining to the impact of a sustained health promoting workplace on company’s performances, including stock returns, of companies that participated in the SHA and companies that did not participate in the SHA. In doing so, the research would be able to determine whether corporate and fund manager should consider the significance of a sustained health promoting workplace as a risk factor to explain the stock returns of companies listed on the SGX. With respect to Singapore’s stock market, this research will test the significance and relevance of a health promoting workplace using the Singapore Health Award as a proxy for non-diversifiable risk factor to explain stock returns. This study will examine the significance of a health promoting workplace on a company’s performance and study its impact on stock price performance and beta and examine if it has higher explanatory power than the traditional single factor asset pricing model CAPM (Capital Asset Pricing Model). To study the significance there are three key questions pertinent to the research study. I) Given a choice, would an investor be better off investing in a listed company with a sustained health promoting workplace i.e. a Singapore Health Award’s recipient? II) The Singapore Health Award has four levels of award starting from Bronze, Silver, Gold to Platinum. Would an investor be indifferent to the level of award when investing in a listed company who is a Singapore Health Award’s recipient? III) Would an asset pricing model combining FAMA-French Three Factor Model and ‘Singapore Health Award’ factor be more accurate than single factor Capital Asset Pricing Model and the Three Factor Model itself?

Keywords: asset pricing model, company's performance, stock prices, sustained health promoting workplace

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Authors: Aslam Faheem, Hunjra Ahmed Imran, Tayachi Tahar, Verhoeven Peter, Tariq Yasir

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We investigate the evidence of three risk-adjusted calendar anomalies in eight frontier markets. Our sample consists of the daily closing prices of their stock indices for the period of January 2006 to September 2019. We categorize the data with respect to day-of-the-week, Lunar calendar and Islamic calendar. Using Morgan Stanley Capital International (MSCI) eight Markets Index as our proxy of the market portfolio, most of the frontier markets tested exhibit calendar seasonality. We confirm that systematic risk varies with respect to day-of-the-week, Lunar months and Islamic months. After consideration of time-varying risk and applying Bonferroni correction, few frontier markets exhibit profitable investment opportunities from calendar return anomalies for active investment managers.

Keywords: asset pricing, frontier markets, market efficiency, Islamic calendar effects, Islamic stock markets

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Authors: Elijah Cavan

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In Major League Sports (MLB, NBA, NHL, NFL), it is the Front Office Staff (FOS) who make decisions about who plays for their respective team. The FOS bear the brunt of the responsibility for acquiring players through drafting, trading and signing players in free agency while typically contesting with maximum roster salary constraints. The players themselves are volatile assets of these teams- their value fluctuates with age and performance. A simple comparison can be made when viewing players as assets. The problem here is similar to that of optimizing your investment portfolio. The The goal is ultimately to maximize your periodic returns while tolerating a fixed risk (degree of uncertainty/ potential loss). Each franchise may value assets differently, and some may only tolerate lower risk levels- these are examples of factors that introduce additional constraints into the model. In this talk, we will detail the mathematical formulation of this problem as a constrained optimization problem- which can be solved with classical machine learning methods but is also well posed as a problem to be solved on quantum computers

Keywords: optimization, financial mathematics, sports analytics, simulated annealing

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Authors: Nikou Javadi, Uğur Dağlı

Abstract:

The importance of culture and tourism in the attractiveness and competitiveness of the countries is central, and many regions are evidencing their cultural assets, tangible and intangible, as a means to create comparative advantages in tourism and produce a distinctive place in response to the pressures of globalization. Culture and tourism are interlinked because of their obvious combination and growth potential. Cultural tourism is a crucial global tourism market with fast growing. Regions can develop significant relations between culture and tourism to increase their attractiveness as places to visit, live and invest, increasing their competitiveness. Accordingly, having new and creative approach to historical areas as cultural value-based destinations can improve their conditions to promote tourism. Furthermore, in 21st century, media become the most important factor affecting the development of urban cities, including public places. As a result of the digital revolution, re-imaging and re-linkage public places by media are essential to create more interactions between public spaces and users, interaction media display, and urban screens, one of the most important defined media. This interaction can transform the urban space from being neglected to be more interactive space with users, especially the pedestrians. The paper focuses on The Walled City of Famagusta. As many other historic quarters elsewhere in the world, is in a process, of decay and deterioration, and its functionally distinctive areas are severely threatened by physical, functional, locational, and image obsolescence at varying degrees. So the focus on the future development of this area through tourism promotion can be an appropriate decision for the monument enhancement of the spatial quality in Walled City of Famagusta. In this paper, it is aimed to identify the effects of these new digital factors to transform public spaces especially in historic urban areas to promote creative tourism. Accordingly, two different analysis methods are used as well as a theoretical review. The first is case study on site and the second is Close ended questionnaire, test many concepts raised in this paper. The physical analysis on site carried out in order to evaluate the walled city restoration for touristic purpose. Besides, theoretical review is done in order to provide background to the subject and cleared Factors to attract tourists.

Keywords: historical areas, media façade, sustainable tourism, Walled city of Famagusta

Procedia PDF Downloads 299

Authors: Benson Tette, Thomas Mensah

Abstract:

As a developing country, Ghana has a high potential to harness the economic value of every industry. Two of the industries that produce below capacity are handicrafts (for instance, carpentry) and information technology (i.e., computer science). To boost production and maintain competitiveness, the carpentry sector in Ghana needs more effective manufacturing procedures that are also more affordable. This issue can be resolved using computer-aided manufacturing (CAM) technology, which automates the fabrication process and decreases the amount of time and labor needed to make wood goods. Yet, the integration of CAM in carpentry-related production is rarely explored. To streamline the manufacturing process, this research investigates the equipment and technology that are currently used in the Ghanaian carpentry sector for automated fabrication. The research looks at the various CAM technologies, such as Computer Numerical Control routers, laser cutters, and plasma cutters, that are accessible to Ghanaian carpenters yet unexplored. We also investigate their potential to enhance the production process. To achieve the objective, 150 carpenters, 15 software engineers, and 10 policymakers were interviewed using structured questionnaires. The responses provided by the 175 respondents were processed to eliminate outliers and omissions were corrected using multiple imputations techniques. The processed responses were analyzed through thematic analysis. The findings showed that adaptation and integration of CAD software with CAM technologies would speed up the design-to-manufacturing process for carpenters. It must be noted that achieving such results entails first; examining the capabilities of current CAD software, then determining what new functions and resources are required to improve the software's suitability for carpentry tasks. Responses from both carpenters and computer scientists showed that it is highly practical and achievable to streamline the design-to-manufacturing process through processes such as modifying and combining CAD software with CAM technology. Making the carpentry-software integration program more useful for carpentry projects would necessitate investigating the capabilities of the current CAD software and identifying additional features in the Ghanaian ecosystem and tools that are required. In conclusion, the Ghanaian carpentry sector has a chance to increase productivity and competitiveness through the integration of CAM technology with CAD software. Carpentry companies may lower labor costs and boost production capacity by automating the fabrication process, giving them a competitive advantage. This study offers implementation-ready and representative recommendations for successful implementation as well as important insights into the equipment and technologies available for automated fabrication in the Ghanaian carpentry sector.

Keywords: carpentry, computer-aided manufacturing (CAM), Ghana, information technology(IT)

Procedia PDF Downloads 66

Authors: Rajat Kapoor

Abstract:

India is a developing country and has experienced a rapid and tumultuous urban growth in the 20th century. The total urban population of the city increased ten-fold between 1901 and 2001. The share of urban population to the total population increased from less than 11 percent to over 28 percent in the same period. Except few examples, most of the Indian cities have grown in a haphazard manner; concentration of population followed by the planning exercises. In this era of global competitiveness and rapid urbanization there is no scope for malpractices in development strategies. It is expected that the Indian cities shall be planned comprehensively and holistically. The study reveals the land transformations the city of Faridabad is witnessing due to development which is largely boosted by the virtue of its location in the Delhi NCR.

Keywords: Delhi NCR, Faridabad, urban growth patterns, India

Procedia PDF Downloads 559