Search results for: and Tunisian’s listed non-financial firms

Authors: Faten Khanfir, Mohamed Tlili, Ali Medeb Hamrouni, Raki Selmi, M. S. Khalfi, Faten Ben Amor

Abstract:

Introduction: dental implant failure is a major concern for the clinician and the patient. Objectives: The aim of our study is to investigate the way in which 100 Tunisian dentists carried implant treatment for their patients from the early phase of planning and selection of patients to the placement of the implant in order to look for the implant failure factors. Results: significant correlations were found between failure rates > 5 and their corresponding factors as the number of implants placed (p = 0.001<0, 05), smoking (0.046 <0.05), unbalanced diabetes (0.03<0.05), aseptic protocol (= 0.004< 0.05) and the drilling speed (0,002<0.05) Conclusion: It seems that the number of implant placed, smoking, diabetes, aseptic protocol, and the drilling speed may contribute to dental implant failure.

Keywords: failure, implants, survey, risk, osseointegration

Procedia PDF Downloads 145

Authors: Mahdi Karazmodeh, Pooyan Jafari

Abstract:

One of the most interesting topics in finance is the relation between stock prices and exchange rates. During the past decades different stock markets in different countries have been the subject of study for researches. The volatilities of exchange rates and its effect on stock prices during the past 10 years have continued to be an attractive research topic. The subject of this study is one of the most important indices, FTSE 100. 20 firms with the highest market capitalization in 5 different industries are chosen. Firms are included in oil and gas, mining, pharmaceuticals, banking and food related industries. 5 different criteria have been introduced to evaluate the relationship between stock markets and exchange rates. Return of market portfolio, returns on broad index of Sterling are also introduced. The results state that not all firms are sensitive to changes in exchange rates. Furthermore, a Granger Causality test has been run to observe the route of changes between stock prices and foreign exchange rates. The results are consistent, to some level, with the previous studies. However, since the number of firms is not large, it is suggested that a larger number of firms being used to achieve the best results. However results showed that not all firms are affected by foreign exchange rates changes. After testing Granger Causality, this study found out that in some industries (oil and gas, pharmaceuticals), changes in foreign exchange rate will not cause any changes in stock prices (or vice versa), however, in banking sector the situation was different. This industry showed more reaction to these changes. The results are similar to the ones with Richards and Noel, where a variety of firms in different industries were evaluated.

Keywords: stock prices, foreign exchange rate, exchange rate exposure, Granger Causality

Procedia PDF Downloads 414

Authors: Mohamed Sadok Bensalem, Soulef Amamria, Khaled Lazzez, Mohamed Ghanmi

Abstract:

The southern-central Tunisian Atlas presents a typical example of an external zone. It occupies a particular position in the North African chains: firstly, it is the eastern limit of atlassic structures; secondly, it is the edges between the belts structures to the north and the stable Saharan platform in the south. The evolution of deformation study is based on several methods, such as classical or numerical methods. The principals parameters controlling the genesis of folds in the southern central Tunisian Atlas are; the reactivation of pre-existing faults during the later compressive phase, the evolution of decollement level, and the relation between thin and thick-skinned. One of the more principal characters of the southern-central Tunisian Atlas is the variation of belts structures directions determined by: NE-SW direction, named the attlassic direction in Tunisia, the NW-SE direction carried along the Gafsa fault (the oriental limit of southern atlassic accident), and the E-W direction defined in the southern Tunisian Atlas. This variation of direction is the result of important variation of deformation during different tectonics phases. A classical modelling of the Jebel ElKebar anticline, based on faults throw of the pre-existing faults and its reactivation during compressive phases, shows the importance of extensional deformation, particular during Aptian-Albian period, comparing with that of later compression (Alpine phases). A numerical modelling, based on the software Rampe E.M. 1.5.0, applied on the anticline of Jebel Orbata confirms the interpretation of “fault related fold” with decollement level within the Triassic successions. The other important parameter of evolution of deformation is the vertical migration of decollement level; indeed, more than the decollement level is in the recent series, most that the deformation is accentuated. The evolution of deformation is marked the development of duplex structure in Jebel At Taghli (eastern limit of Jebel Orbata). Consequently, the evolution of deformation is proportional to the depth of the decollement level, the most important deformation is in the higher successions; thus, is associated to the thin-skinned deformation; the decollement level permit the passive transfer of deformation in the cover.

Keywords: evolution of deformation, pre-existing faults, decollement level, thin-skinned

Procedia PDF Downloads 91

Authors: Suleman Bawa, Ayiku Emmanuel Lartey

Abstract:

Purpose - This paper aims to examine the association between knowledge capital and multinational firms’ innovation management. We again explored the impact of transboundary investment and assimilative capacity between knowledge capital and multinational firms’ innovation management. The vital position of knowledge capital and multinational firms’ innovation management in today’s increasingly volatile environment coupled with fierce competition has been extensively acknowledged by academics and industry investment capitals. Design/methodology/approach - The theoretical association model and an empirical correlation analysis were constructed based on relevant research using data collected from 19 multinational firms in Ghana as the subject, and path analysis was constructed using SPSS 22.0 and AMOS 24.0 to test the formulated hypotheses. Findings - Varied conclusions are drawn consequential from theoretical inferences and empirical tests. For multinational firms, knowledge capital relics positively significant to multinational firms’ innovation management. Multinational firms with advanced knowledge capital likely spawn greater corporations’ innovation management. Second, transboundary investment efficiently intermediates the association between knowledge physical capital, knowledge interactive capital, and corporations’ innovation management. At the same time, this impact is insignificant between knowledge of empirical capital and corporations’ innovation management. Lastly, the impact of transboundary investment and assimilative capacity on the association between knowledge capital and corporations’ innovation management is established. We summarized the implications for managers based on our outcomes. Research limitations/implications - Multinational firms must dynamically build knowledge capital to augment corporations’ innovation management. Conversely, knowledge capital motivates multinational firms to implement transboundary investment and cultivate assimilative capacity. Accordingly, multinational firms can efficiently exploit diverse information to augment their corporate innovation management. Practical implications – This paper presents a comprehensive justification of knowledge capital and manufacturing firms’ innovation management by exploring the impact of transboundary investment and assimilative capacity within the manufacturing industry, its sequential progress, and its associated challenges. Originality/value – This paper is amongst the first to find empirical results to back knowledge capital and manufacturing firms’ innovation management by exploring the impact of transboundary investment and assimilative capacity within the manufacturing industry. Additionally, aligning knowledge as a coordinative instrument is a significant input to our discernment in this area.

Keywords: knowledge capital, transboundary investment, innovation management, assimilative capacity

Procedia PDF Downloads 35

Authors: Qiong Huang, Satish Chand

Abstract:

This paper uses a primary data from 670 Chinese manufacturing firms, together with the newly introduced regressionbased inequality decomposition method, to study the effect of openness on wage inequality. We find that openness leads to a positive industry wage premium, but its contribution to firm-level wage inequality is relatively small, only 4.69%. The major contributor to wage inequality is human capital, which could explain 14.3% of wage inequality across sample firms.  

Keywords: openness, human capital, wage inequality, decomposition, China

Procedia PDF Downloads 396

Authors: Arunas Burinskas, Manuela Tvaronavičienė

Abstract:

Although the new trade theories, unlike the theories of an industrial organisation, see the structure of the market and competition between enterprises through their heterogeneity according to various parameters, they do not pay any particular attention to the analysis of the market structure and its development. In this article, although we relied mainly on models developed by the scholars of new trade theory, we proposed a different approach. In our simulation model, we model market demand according to normal distribution function, while on the supply side (as it is in the new trade theory models), productivity is modeled with the Pareto distribution function. The results of the simulation show that companies with higher productivity (lower marginal costs) do not pass on all the benefits of such economies to buyers. However, even with higher marginal costs, firms can choose to offer higher value-added goods to stay in the market. In general, the structure of the market is formed quickly enough and depends on the skills available to firms.

Keywords: market, structure, simulation, heterogenous firms

Procedia PDF Downloads 114

Authors: Henry Ataburo, Dominic Essuman, Emmanuel Kwabena Anin

Abstract:

Recent trends of catastrophic events, such as the Covid-19 pandemic, the Suez Canal blockage, the Russia-Ukraine conflict, the Israel-Hamas conflict, and the climate change crisis, continue to devastate supply chains and the broader society. Prior authors have advocated for a simultaneous pursuit of resilience and sustainability as crucial for navigating these challenges. Nevertheless, the relationship between resilience and sustainability is a rather complex one: resilience and sustainability are considered unrelated, substitutes, or complements. Scholars also suggest that different firms prioritize resilience and sustainability differently for varied strategic reasons. However, we know little about whether, how, and when these choices produce different typologies of firms to explain differences in financial and market performance outcomes. This research draws inferences from the systems configuration approach to organizational fit to contend that a taxonomy of firms may emerge based on how firms configure resilience and environmental sustainability. The study further examines the effects of these taxonomies on financial and market performance in differing transportation disruption conditions. Resilience is operationalized as a firm’s ability to adjust current operations, structure, knowledge, and resources in response to disruptions, whereas environmental sustainability is operationalized as the extent to which a firm deploys resources judiciously and keeps the ecological impact of its operations to the barest minimum. Using primary data from 199 firms in Ghana and cluster analysis as an analytical tool, the study identifies four clusters of firms based on how they prioritize resilience and sustainability: Cluster 1 - "strong, moderate resilience, high sustainability firms," Cluster 2 - "sigh resilience, high sustainability firms," Cluster 3 - "high resilience, strong, moderate sustainability firms," and Cluster 4 - "weak, moderate resilience, strong, moderate sustainability firms". In addition, ANOVA and regression analysis revealed the following findings: Only clusters 1 and 2 were significantly associated with both market and financial performance. Under high transportation disruption conditions, cluster 1 firms excel better in market performance, whereas cluster 2 firms excel better in financial performance. Conversely, under low transportation disruption conditions, cluster 1 firms excel better in financial performance, whereas cluster 2 firms excel better in market performance. The study provides theoretical and empirical evidence of how resilience and environmental sustainability can be configured to achieve specific performance objectives under different disruption conditions.

Keywords: resilience, environmental sustainability, developing economy, transportation disruption

Procedia PDF Downloads 36

Authors: Amit Kumar Dwivedi, Priyanko Ghosh

Abstract:

Data Envelopment analysis (DEA) has been used to calculate the technical and scale efficiency measures of the public and private sugar manufacturing firms of the Indian Sugar Industry (2006 to 2010). Within DEA framework, the input & Output oriented Variable Returns to Scale (VRS) & Constant Return to Scale (CRS) model is employed for the study of Decision making units (DMUs). A representative sample of 43 firms which account for major portion of the total market share is studied. The selection criterion for the inclusion of a firm in the analysis was the total sales of INR 5,000 million or more in the year 2010. After reviewing the literature it is found that no study has been conducted in the context of Indian sugar manufacturing firms in the Post-liberalization era which motivates us to initiate the study.

Keywords: technical efficiency, Indian sugar manufacturing units, DEA, input output oriented

Procedia PDF Downloads 497

Authors: Olakunle Felix Adekunle

Abstract:

Innovation has become the key to firm success, and entrepreneurial leadership displayed by the top management team fundamentally drives innovation in firms. This paper discusses findings from an empirical study of factors influencing the success of firms operating in developing economies in an industry where science drives the pace of change. We find that success of firms in such industries depends on thriving innovation activity that in turn is primarily driven by effective entrepreneurial leadership of the top management team. The paper presents the dimensions of entrepreneurial leadership and its linkage to innovation and firm success in the form of testable propositions. Finally, a preliminary theory of firm success in industries where science drives the pace of change is also inducted from this empirical study and presented.

Keywords: leadership, innovation, firms, economic, efficiency, industry, resources

Procedia PDF Downloads 289

Authors: Oumayma Tajouri

Abstract:

The relationship between total quality management (TQM) practices and innovation is conflictual. Some scholars suggest that TQM has an effect on incremental improvement and would not lead to innovation and creativity. The purpose of this paper is to analyse the association between TQM and different types of innovation. Our goal is to examine to what extent the implementation of TQM practices is indeed supporting innovation in the Tunisian ISO 9001 certified industries. Using a self-administered survey to sample ISO9001 certified industry companies, this study examines five hypotheses and tests the relation between TQM practices and innovation. The principal finding of this study is that TQM has significant and positive effects on innovation in the Tunisian context. The results support that TQM has an influence on incremental, radical, and administrative innovation.

Keywords: total quality management, incremental innovation product and/service, radical innovation product/service, incremental innovation process, radical innovation process, administrative innovation

Procedia PDF Downloads 117

Authors: Chen Jun

Abstract:

This study investigates the impact of family involvement, a pivotal factor shaping the management structure of family firms, on the firm’s innovation outputs. The independent variable focuses on the percentage number of family members serving as directors, supervisors and senior management. Our hypothesis suggests that family involvement tends to make management more conservative, thereby increasing the likelihood of impeding innovation investments and resulting in adverse effects on innovation output. Our findings reveal that Chinese family firms with high family involvement exhibit poorer innovation outputs compared to those with lower family involvement. Subsample analyses indicate that this negative influence of family involvement on innovation output is strengthened as the firm faces higher industry competition and a low marketization context. The findings of our paper contribute to the literature on family involvement by empirically illustrating how family involvement hinders innovation efforts and performance in Chinese family firms.

Keywords: family firm, family involvement, firm innovation, Chinese family firm

Procedia PDF Downloads 27

Authors: C. M. Mat Isa, H. Mohd Saman, S. R. Mohd Nasir, A. Jaapar

Abstract:

International market expansion involves a strategic process of market entry decision through which a firm expands its operation from domestic to the international domain. Hence, entry timing choices require the needs to balance the early entry risks and the problems in losing opportunities as a result of late entry into a new market. Questionnaire surveys administered to 115 Malaysian construction firms operating in 51 countries worldwide have resulted in 39.1 percent response rate. Factor analysis was used to determine the most significant factors affecting entry timing choices of the firms to penetrate the international market. A logistic regression analysis used to examine the firms’ entry timing choices, indicates that the model has correctly classified 89.5 per cent of cases as late movers. The findings reveal that the most significant factor influencing the construction firms’ choices as late movers was the firm factor related to the firm’s international experience, resources, competencies and financing capacity. The study also offers valuable information to construction firms with intention to internationalize their businesses.

Keywords: factors, early movers, entry timing choices, late movers, logistic regression model, principal axis factorial analysis, Malaysian construction firms

Procedia PDF Downloads 352

Authors: Sana Masmoudi Mardassi, Yosra Makni Fourati

Abstract:

Regulators highlight the importance of the Audit Committee (AC) as a key internal corporate governance mechanism. One of the most important roles of this committee is to oversee the financial reporting process. The purpose of this paper is to examine the link between the characteristics of an audit committee and the financial reporting quality by investigating whether the characteristics of audit committees are associated with improved financial reporting quality, especially the Real Earnings Management. In the current study, a panel data from 80 nonfinancial companies listed on the Amsterdam Stock Exchange during the period between 2010 and 2017 were used. To measure audit committee characteristics, four proxies have been used, specifically, audit committee independence, financial expertise, gender diversity and AC meetings. For this research, a linear regression model was used to identify the influence of a set of board characteristics of the audit committee on real earnings management after controlling for firm audit committee size, leverage, size, loss, growth and board size. This research provides empirical evidence of the association between audit committee independence, financial expertise, gender diversity and meetings and Real Earnings Management (REM) as a proxy of financial reporting quality. The study finds that independence and AC Gender diversity are strongly related to financial reporting quality. In fact, these two characteristics constrain REM. The results also suggest that AC- financial expertise reduces to some extent, the likelihood of engaging in REM. These conclusions provide support then to the audit committee requirement under the Dutch Corporate Governance Code rules regarding gender diversity and AC meetings.

Keywords: audit committee, financial expertise, independence, real earnings management

Procedia PDF Downloads 140

Authors: Zijian Cheng, Frank Liu, Yupu Sun

Abstract:

The relationship between the intensity of share pledging activities and the level of financial constraint in publicly listed firms in China is examined in this paper. Empirical results show that the high financial constraint level may motivate insiders to use share pledging as an alternative funding source and an expropriation mechanism. Share collateralization can cause a subsequently more constrained financing condition. Evidence is found that share pledging made by the controlling shareholder is likely to mitigate financial constraints in the following year. Research findings are robust to alternative measures and an instrumental variable for dealing with endogeneity problems.

Keywords: share pledge, financial constraint, controlling shareholder, dividend policy

Procedia PDF Downloads 134

Authors: M. Moncef Khaddar

Abstract:

This paper focuses mainly on a contextualized understanding of ‘autocratic authoritarianism’ in Tunisia without approaching its peculiarities in reference to the ideal type of capitalist-liberal democracy but rather analysing it as a Tunisian ‘civilian dictatorship’. This is reminiscent, to some extent, of the French ‘colonial authoritarianism’ in parallel with the legacy of the traditional formal monarchic absolutism. The Tunisian autocratic political system is here construed as a state manufactured nationalist-populist authoritarianism associated with a de facto presidential single party, two successive autocratic presidents and their subservient autocratic elites who ruled with an iron fist the de-colonialized ‘liberated nation’ that came to be subjected to a large scale oppression and domination under the new Tunisian Republic. The diachronic survey of Tunisia’s autocratic authoritarian system covers the early years of autocracy, under the first autocratic president Bourguiba, 1957-1987, as well as the different stages of its consolidation into a police-security state under the second autocratic president, Ben Ali, 1987-2011. Comparing the policies of authoritarian regimes, within what is identified synchronically as a bi-cephalous autocratic system, entails an in-depth study of the two autocrats, who ruled Tunisia for more than half a century, as modern adaptable autocrats. This is further supported by an exploration of the ruling authoritarian autocratic elites who played a decisive role in shaping the undemocratic state-society relations, under the 1st and 2nd President, and left an indelible mark, structurally and ideologically, on Tunisian polity. Emphasis is also put on the members of the governmental and state-party institutions and apparatuses that kept circulating and recycling from one authoritarian regime to another, and from the first ‘founding’ autocrat to his putschist successor who consolidated authoritarian stability, political continuity and autocratic governance. The reconfiguration of Tunisian political life, in the post-autocratic era, since 2011 will be analysed. This will be scrutinized, especially in light of the unexpected return of many high-profile figures and old guards of the autocratic authoritarian apparatchiks. How and why were, these public figures, from an autocratic era, able to return in a supposedly post-revolutionary moment? Finally, while some continue to celebrate the putative exceptional success of ‘democratic transition’ in Tunisia, within a context of ‘unfinished revolution’, others remain perplexed in the face of a creeping ‘oligarchic transition’ to a ‘hybrid regime’, characterized rather by elites’ reformist tradition than a bottom-up genuine democratic ‘change’. This latter is far from answering the 2010 ordinary people’s ‘uprisings’ and ‘aspirations, for ‘Dignity, Liberty and Social Justice’.

Keywords: authoritarianism, autocracy, democratization, democracy, populism, transition, Tunisia

Procedia PDF Downloads 107

Authors: Abdullah Almulhim

Abstract:

The International Accounting Standards Board (IASB) was established in 2001 to develop International Financial Reporting Standards (IFRS) that bring transparency, accountability, and efficiency to financial markets around the world. In addition, the IFRS provide a unified accounting language, which is especially important in the era of globalization. However, the establishment of a single set of high-quality international accounting standards is a matter of growing importance, as participants in the increasingly integrated world capital market demand comparability and transparency of financial reporting worldwide. Saudi Arabia became the 149th member of the World Trade Organization (WTO) on 11 December 2005, which has increased the need to convert to IFRS. Currently, the Saudi Arabian Monetary Authority (SAMA) requires banks and insurance companies in Saudi Arabia to report under IFRS Standards. However, until the end of 2016, SOCPA standards were applied to all other companies, listed and unlisted. From 2017, listed Saudi companies would be required to report under IFRS Standards as adopted by SOCPA effective 2017. This paper is to investigate the expected benefits gained and highlight the challenges faced by adopting IFRS by the listed companies in the Saudi Stock Exchange. Questionnaires were used as the main method of data collection. They were distributed to listed companies in the Saudi Capital Market. Data obtained through the questionnaires have been imported into SPSS statistical software for analysis. The expected results of this study will show the benefits of adopting IFRS by Saudi Listed Companies. However, this study will investigate the challenges faced by adopting IFRS by the listed companies in the Saudi Arabian Stock Market. Findings will be discussed later upon completion of initial analysis.

Keywords: challenges, IAS, IFRS, opportunities, Saudi, SOCPA

Procedia PDF Downloads 215

Authors: Andrea Miconi

Abstract:

The research will focus on the results of the Tempus European Project eMEDia dedicated to Cross-Media Journalism. The project is founded by the European Commission as it involves four European partners - IULM University, Tampere University, University of Barcelona, and the Mediterranean network Unimed - and three Tunisian Universities – IPSI La Manouba, Sfax and Sousse – along with the Tunisian Ministry for Higher Education and the National Syndicate of Journalists. The focus on Tunisian condition is basically due to the role played by digital activists in its recent history. The research is dedicated to the relationship between political participation, news-making practices and the spread of social media, as it is affecting Tunisian society. As we know, Tunisia during the Arab Spring had been widely considered as a laboratory for the analysis the use of new technologies for political participation. Nonetheless, the literature about the Arab Spring actually fell short in explaining the genesis of the phenomenon, on the one hand by isolating technologies as a casual factor in the spread of demonstrations, and on the other by analyzing North-African condition through a biased perspective. Nowadays, it is interesting to focus on the consolidation of the information environment three years after the uprisings. And what is relevant, only a close, in-depth analysis of Tunisian society is able to provide an explanation of its history, and namely of the part of digital media in the overall evolution of political system. That is why the research is based on different methodologies: desk stage, interviews, and in-depth analysis of communication practices. Networked journalism is the condition determined by the technological innovation on news-making activities: a condition upon which professional journalist can no longer be considered the only player in the information arena, and a new skill must be developed. Along with democratization, nonetheless, the so-called citizen journalism is also likely to produce some ambiguous effects, such as the lack of professional standards and the spread of information cascades, which may prove to be particularly dangerous in an evolving media market as the Tunisian one. This is why, according to the project, a new profile must be defined, which is able to manage this new condition, and which can be hardly reduced to the parameters of traditional journalistic work. Rather than simply using new devices for news visualization, communication professionals must also be able to dialogue with all new players and to accept the decentralized nature of digital environments. This networked nature of news-making seemed to emerge during the Tunisian revolution, when bloggers, journalists, and activists used to retweet each other. Nonetheless, this intensification of communication exchange was inspired by the political climax of the uprising, while all media, by definition, are also supposed to bring some effects on people’s state of mind, culture and daily life routines. That is why it is worth analyzing the consolidation of these practices in a normal, post-revolutionary situation.

Keywords: cross-media, education, Mediterranean, networked journalism, social media, Tunisia

Procedia PDF Downloads 170

Authors: Hamidreza Fallah Lajimi, Elham Karami, Alireza Arab, Fatemeh Alinasab

Abstract:

Being responsive is an increasingly important skill for firms in today’s global economy; thus firms must be agile. Naturally, it follows that an organization’s agility depends on its supply chain being agile. However, achieving supply chain agility is a function of other abilities within the organization. This paper analyses results from a survey of 71 Iran manufacturing companies in order to identify some of the factors for agile organizations in managing their supply chains. Then we classification this company in four cluster with fuzzy c-mean technique and with Four validations functional determine automatically the optimal number of clusters.

Keywords: agile supply chain, clustering, fuzzy clustering, business engineering

Procedia PDF Downloads 667

Authors: Diego Saldo Alves, Marcelo Paveck Ayub

Abstract:

The quality of accounting information is very important for the decision-making of managers, investors government and other information users. The opinion of the independent audit has a significant influence on the decision-making, especially the investors. Therefore, the aim of this study is to analyze the reasons that companies listed on Brazilian Stock Exchange B3, if they received qualified opinion and disclaimer of opinion of the independent auditors. We analyzed the reports of the independent auditors of 23 Brazilian companies listed in B3 that received qualified opinion and disclaimer of opinion between the years 2012 and 2017. The findings show that the companies do not comply the International Financial Reporting Standard, IFRS, also they did not provide documentation to prove the operations performed, did not account expenses, problems in corporate governance and internal controls.

Keywords: audit, disclaimer of opinion, independent auditors, qualified opinion

Procedia PDF Downloads 164

Authors: S. Nasri, H. Bouziri

Abstract:

Disasters are quite experienced in our days. They are caused by floods, landslides, and building fires that is the main objective of this study. To cope with these unexpected events, precautions must be taken to protect human lives. The emphasis on disposal work focuses on the resolution of the evacuation problem in case of no-notice disaster. The problem of evacuation is listed as a dynamic network flow problem. Particularly, we model the evacuation problem as an earliest arrival flow problem with load dependent transit time. This problem is classified as NP-Hard. Our challenge here is to propose a metaheuristic solution for solving the evacuation problem. We define our objective as the maximization of evacuees during earliest periods of a time horizon T. The objective provides the evacuation of persons as soon as possible. We performed an experimental study on emergency evacuation from the tunisian children’s hospital. This work prompts us to look for evacuation plans corresponding to several situations where the network dynamically changes.

Keywords: dynamic network flow, load dependent transit time, evacuation strategy, earliest arrival flow problem, tabu search metaheuristic

Procedia PDF Downloads 346

Authors: Katharina Buttenberg

Abstract:

Customer and brand-oriented capabilities have been identified as key influencing capabilities for business performance. Especially in the early years of the firm, it is crucial to develop and consciously manage these capabilities. In this paper, the results of a quantitative analysis, investigating the causal relationship between customer- and brand-oriented (marketing) capabilities and business performance will be presented. The research displays the dependencies between the constructs and will provide practical implications for young firms in the acquisition and management of these capabilities.

Keywords: brand-oriented capabilities, customer-oriented capabilities, entrepreneurship, resource-based theory, young firms

Procedia PDF Downloads 313

Authors: Hajer Habib, Ghazi Boulila

Abstract:

The objective of this paper is to present our contribution to the theoretical literature through a simple theoretical model dealing with the effect of transferring funds on the labor market of the countries of origin and on the other hand to test this relationship empirically in the case of Tunisia. The methodology used consists of estimating a panel of the nine main destinations of the Tunisian diaspora in Europe between 1994 and 2014 in order to better value the net effect of these migratory financial flows on unemployment through population growth. The empirical results show that the main factors explaining the decision to emigrate are the economic factors related mainly to the income differential, the demographic factors related to the differential age structure of the origin and host populations, and the cultural factors linked basically to the mastery of the language. Indeed, the stock of migrants is one of the main determinants of the transfer of migratory funds to Tunisia. But there are other variables that do not lack importance such as the economic conditions linked by the host countries. This shows that Tunisian migrants react more to economic conditions in European countries than in Tunisia. The economic situation of European countries dominates the numbers of emigrants as an explanatory factor for the amount of transfers from Tunisian emigrants to their country of origin. Similarly, it is clear that there is an indirect effect of transfers on unemployment in Tunisia. This suggests that the demographic transition conditions the effects of transferring funds on the level of unemployment.

Keywords: demographic changes, international migration, labor market, remittances

Procedia PDF Downloads 122

Authors: Adel Almasarwah

Abstract:

This study investigates the nature of association between profit warnings and stock price informativeness in the context of Jordan as an emerging country. The analysis is based on the response of stock price synchronicity to profit warnings percentages that have been published in Jordanian firms throughout the period spanning 2005–2016 in the Amman Stock Exchange. The standard of profit warnings indicators have related negatively to stock price synchronicity in Jordanian firms, meaning that firms with a high portion of profit warnings integrate with more firm-specific information into stock price. Robust regression was used rather than OLS as a parametric test to overcome the variances inflation factor (VIF) and heteroscedasticity issues recognised as having occurred during running the OLS regression; this enabled us to obtained stronger results that fall in line with our prediction that higher profit warning encourages firm investors to collect and process more firm-specific information than common market information.

Keywords: Profit Warnings, Jordanian Firms, Stock Price Informativeness, Synchronicity

Procedia PDF Downloads 122

Authors: Merhawit Fisseha Gebremariam, Yohannes Yebabe Tesfay

Abstract:

This study focuses on the formulation of a sustainable, effective, and efficient supply chain strategy framework that will enable Ethiopian privatized firms. The study examined the role of privatization in productive sourcing, production, and delivery to Ethiopian firm’s performances. To analyze our hypothesis, the authors applied the concepts of Key Performance Indicator (KPI), strategic outsourcing, purchasing portfolio analysis, and Porter's marketing analysis. The authors selected ten privatized companies and compared their financial, market expansion, and sustainability performances. The Chi-Square Test showed that at the 5% level of significance, privatization and outsourcing activities can assist the business performances of Ethiopian firms in terms of product promotion and new market expansion. At the 5% level of significance, the independent t-test result showed that firms that were privatized by Ethiopian investors showed stronger financial performance than those that were privatized by foreign investors. Furthermore, it is better if Ethiopian firms apply both cost leadership and differentiated strategy to enhance thriving in their business area. Ethiopian firms need to implement the supply chain operations reference (SCOR) model for an exclusive framework that supports communication links the supply chain partners, and enhances productivity. The government of Ethiopia should be aware that the privatization of firms by Ethiopian investors will strengthen the economy. Otherwise, the privatization process will be risky for the country, and therefore, the government of Ethiopia should stop doing those activities.

Keywords: correlation analysis, market strategies, KPIs, privatization, risk and Ethiopia

Procedia PDF Downloads 29

Authors: Khaldoon G. Albitar, Hassan Y. Kikhia, Jin P. Zhang

Abstract:

Since 2007, all companies listed on both Shanghai Stock Exchange and Shenzhen Stock Exchange are required to prepare their consolidated financial statements in accordance with International Financial Reporting Standards (IFRS). This study investigates the impact of adopting IFRS on accounting quality for a sample of listed on Chinese companies during the period 2003-2013 with sample of 10846 observations over a four-year period before and a five-year period after the adoption of IFRS. This study tests whether the level of earnings management is significantly lower after the adoption of IFRS, and reported earnings is more value relevant during the IFRS period by using the Ohlson model and Jones model, as modified by Dechow. The empirical results show that accounting quality improved with lower earnings management and higher value relevant after the adoption of IFRS in China. The current study contributes to the literature on IFRS adoption and earning quality in two ways. First, As most of the existing studies on earnings quality and IFRS have been conducted on data from the U.S and European countries, this study fills a gap in the existing literature by studying the effect of adoption of IFRS on earnings quality in an emerging market. Second, the findings of our study have important implications for policymakers, auditors, multinational firms, and users of financial reports. As the rapid growth of China's economy gains global recognition, the Chinese stock market is capturing the attention of international investor.

Keywords: international financial reporting standards (ifrs), accounting quality, earnings management, value relevance, china

Procedia PDF Downloads 302

Authors: Mehdi Attia, Sana Ben Fadhel, Lamjed Bettaieb

Abstract:

Mobile technology has become a part of our daily lives and assist learners (despite their level and age) in their leaning process using various apparatus and mobile devices (laptop, tablets, etc.). This paper presents a new learning framework based on tablets. This solution has been developed and tested in ESPRIT “Ecole Supérieure Privée d’Igénieurie et de Technologies”, a Tunisian school of engineering. This application is named ESSF: Esprit Smart School Framework. In this work, the main features of the proposed solution are listed, particularly its impact on the learners’ evaluation process. Learner’s assessment has always been a critical component of the learning process as it measures students’ knowledge. However, traditional evaluation methods in which the learner is evaluated once or twice each year cannot reflect his real level. This is why a continuous assessment (CA) process becomes necessary. In this context we have proved that ESSF offers many important features that enhance and facilitate the implementation of the CA process.

Keywords: continuous assessment, mobile learning, tablet based learning, smart school, ESSF

Procedia PDF Downloads 303

Authors: Gamze Sekeroglu, Mikail Altan

Abstract:

Working capital is identified as firm’s all current assets. Inventories which are one of the working capital elements are very important among current assets for firms. Because, profitability is an indicator for firms’ financial success is provided with minimum cost and optimum inventory quantity. So in this study, it is investigated as comparatively that the effect of inventory management on the profitability of Turkish firms which operated in weaving industry, eatables industry, wholesale and retail industry in between 2003 – 2012 years. Research data consist of profitability ratios and inventory turnovers ratio calculated by using balance sheets and income statements of firms which operated in Borsa Istanbul (BIST). In this research, the relationship between inventories and profitability is investigated by using SPSS-20 software with regression and correlation analysis. The results achieved from three industry departments which exist in study interpreted as comparatively. Accordingly, it is determined that there is a positive relationship between inventory management and profitability in eatables industry. However, it was founded that there is no relationship between inventory management and profitability in weaving industry and wholesale and retail industry.

Keywords: profitability, regression analysis, inventory management, working capital

Procedia PDF Downloads 292

Authors: Zahid Ahmad, Samia Yousaf

Abstract:

The main purpose of this study is to evaluate and assess the financial position, operating performance, and recent outlook of the companies. This study investigates the impact of capital structure, dividend policy and sustainability on the value of firms of textile spinning sector of Pakistan which is listed on Pakistan stock exchange. The panel data technique has been applied to this group of textile sector which is textile spinning. This study covers the last ten years of time period. All the data related to the variables have been collected from the annual reports and financial statements of the textile sector firms. There are differently related determinants to measure the capital structure which are fixed assets turnover ratio, debt ratio, equity ratio, debt to equity ratio, assets tangibility, and shareholder’s equity. Dividend policy is being measured by two determinants which are earning per share (EPS) and dividend payout ratio. Sustainability is being measured by three suitable factors which are sales growth, gross profit margin ratio and firm size. These are three independent variables and their determinants of this study. Value of firm is measured through the return on asset (ROA). Capital structure is at the top of the list among all the three variables. According to the results of this research work, somewhere all the three variables generates positive and significant effect on the firm’s performance and its growth.

Keywords: capital structure, dividend policy, panel data, sustainability

Procedia PDF Downloads 208

Authors: Bolanle Deborah Motilewa, E. K. Rowland Worlu, Gbenga Mayowa Agboola, Ayodele Maxwell Olokundun

Abstract:

Several studies have proposed a one-size fit all approach to Corporate Social Responsibility (CSR) practices, such that CSR as it applies to developed countries is adapted to developing countries, ignoring the differing institutional environments (such as the regulative, economic, social and political environments), which affects the profitability and practices of businesses operating in them. CSR as it applies to filling institutional gaps in developing countries, was categorized into four themes: environmental protection, product and service innovation, social innovation and local cluster development. Based on the four themes, the study employed a qualitative research approach through the use of interviews and review of available publications to study the influence of institutional environments on CSR practices engaged in by three renewable energy firms operating in Nigeria. Over the course of three 60-minutes sessions with the top management and selected workers of the firms, four propositions were made: regulatory environment influences environmental protection practice of Nigerian renewable firms, economic environment influences product and service innovation practice of Nigerian renewable energy firms, the social environment impacts on social innovation in Nigerian renewable energy firms, and political environment affects local cluster development practice of Nigerian renewable energy firms. It was also observed that beyond institutional environments, the international exposure of an organization’s managers reflected in their approach to CSR. This finding on the influence of international exposure on CSR practices creates an area for further study. Insights from this paper are set to help policy makers in developing countries, CSR managers, and future researchers.

Keywords: corporate social responsibility, renewable energy firms, institutional environment, social entrepreneurship

Procedia PDF Downloads 257

Authors: Zahra A. Al Nasser, Domenico Campa

Abstract:

This paper investigates board of directors and firms’ ownership structure on non-financial companies listed in Gulf Cooperation council (GCC) countries using data from 2009 to 2013. The overall result of the study is that board size and board meeting have increased over years. Additionally, all combined committee variables have improved as well as audit committee size, audit committee meeting and audit committee experience have improved over the years. Furthermore, Oman is the only country that has not shown any statistically significant change in value of its associated variables.

Keywords: corporate governance, GCC countries, board of directors, ownership structure

Procedia PDF Downloads 537