Search results for: asset purchase facility

Authors: Amirhossein Chambari

Abstract:

This article proposes a bi-objective model for the facility location problem subject to congestion (overcrowding). Motivated by implementations to locate servers in internet mirror sites, communication networks, one-server-systems, so on. This model consider for situations in which immobile (or fixed) service facilities are congested (or queued) by stochastic demand to behave as M/M/1/K queues. We consider for this problem two simultaneous perspectives; (1) Customers (desire to limit times of accessing and waiting for service) and (2) Service provider (desire to limit average facility idle-time). A bi-objective model is setup for facility location problem with two objective functions; (1) Minimizing sum of expected total traveling and waiting time (customers) and (2) Minimizing the average facility idle-time percentage (service provider). The proposed model belongs to the class of mixed-integer nonlinear programming models and the class of NP-hard problems. In addition, to solve the model, controlled elitist non-dominated sorting genetic algorithms (Controlled NSGA-II) and controlled elitist non-dominated ranking genetic algorithms (NRGA-I) are proposed. Furthermore, the two proposed metaheuristics algorithms are evaluated by establishing standard multiobjective metrics. Finally, the results are analyzed and some conclusions are given.

Keywords: bi-objective, facility location, queueing, controlled NSGA-II, NRGA-I

Procedia PDF Downloads 550

Authors: Haq Nawaz, Muhammad Amjad Iqbal, Kamran Malik

Abstract:

"Altasreef" is an automated system available for Web and Android users which provide facility to the users to learn the Quran verbs. It provides the facility to the users to practice the learned material and also provide facility of exams of Arabic verbs variation focusing on Quran text. Arabic is a highly inflectional language. Almost all of its words connect to roots of three, four or five letters which approach the meaning of all their inflectional forms. In Arabic, a verb is formed by inserting the consonants into one of a set of verb patterns. Suffixes and prefixes are then added to generate the meaning of number, person, and gender. The active/passive voice and perfective aspect and other patterns are than generated. This application is designed for learners of Quranic Arabic who already have learn basics of Arabic conjugation. Application also provides the facility of translation of generated patterns. These translations are generated with the help of rule-based approach to give 100% results to the learners.

Keywords: NLP, Quran, Computational Linguistics, E Learning

Procedia PDF Downloads 129

Authors: Fety Nurlia Muzayanah, Arif Imam Suroso, Mukhamad Najib

Abstract:

The market share of organic food in Indonesia just reaches 0.5-2 percents from the entire of agricultural products. The aim of this research is to analyze the relation of gender, work, age and final education toward the buying interest of organic food, to identify the factors influencing the resistance of the purchase of organic food, and to identify the market education process. The analysis result of Structural Equation Modeling (SEM) shows the factors causing the resistance of the purchase of organic food are the negative attitude toward organic food, the lack of affordable in range for organic food product and the lack of awareness toward organic food, while the subjective norms have no significant effect toward the buying interest. The market education process which can be done is the education about the use of the health of organic food, the organic certification and the economic value.

Keywords: market education, organic food, consumer behavior, structural equation modeling

Procedia PDF Downloads 570

Authors: Andrea Paltrinieri, Alberto Dreassi, Stefano Miani, Alex Sclip

Abstract:

The financial crises caused a collapse in prices of most asset classes, raising the attention on alternative investments such as Sukuk, a smaller, fast growing but often misunderstood market. We study diversification benefits of Sukuk, their correlation with other asset classes and the effects of their inclusion in investment portfolios of institutional and retail investors, through a comprehensive comparison of their risk/return profiles during and after the financial crisis. We find a beneficial performance adjusted for the specific volatility together with a lower correlation especially during the financial crisis. The distribution of Sukuk returns is positively skewed and leptokurtic, with a risk/return profile similarly to high yield bonds. Overall, our results suggest that Sukuk present diversification opportunities, a significant volatility-adjusted performance and lower correlations especially during the financial crisis. Our findings are relevant for a number of institutional investors. Long term investors, such as life insurers would benefit from Sukuk’s protective features during financial crisis yet keeping return and growth opportunities, whereas banks would gain due to their role of placers, advisors, market makers or underwriters.

Keywords: sukuk, zero beta asset, asset allocation, sukuk market

Procedia PDF Downloads 446

Authors: Rahma Saleh Hussein Al Balushi

Abstract:

Oman Electricity Transmission Company's (OETC) vision is to be a renowned world-class transmission grid by 2025, and one of the indications of achieving the vision is obtaining Asset Management ISO55001 certification, which required setting out a documented Standard Operating Procedures (SOP). Hence, documented SOP for the Geographical information system data process has been established. Also, to effectively manage and improve OETC power transmission, asset data and information need to be governed as such by Asset Information & GIS department. This paper will describe in detail the current GIS data submission process and the journey for developing it. The methodology used to develop the process is based on three main pillars, which are system and end-user requirements, Risk evaluation, data availability, and accuracy. The output of this paper shows the dramatic change in the used process, which results subsequently in more efficient, accurate, and updated data. Furthermore, due to this process, GIS has been and is ready to be integrated with other systems as well as the source of data for all OETC users. Some decisions related to issuing No objection certificates (NOC) for excavation permits and scheduling asset maintenance plans in Computerized Maintenance Management System (CMMS) have been made consequently upon GIS data availability. On the Other hand, defining agreed and documented procedures for data collection, data systems update, data release/reporting and data alterations has also contributed to reducing the missing attributes and enhance data quality index of GIS transmission data. A considerable difference in Geodatabase (GDB) completeness percentage was observed between the years 2017 and year 2022. Overall, concluding that by governance, asset information & GIS department can control the GIS data process; collect, properly record, and manage asset data and information within the OETC network. This control extends to other applications and systems integrated with/related to GIS systems.

Keywords: asset management ISO55001, standard procedures process, governance, CMMS

Procedia PDF Downloads 89

Authors: Norazah Mohd Suki, Norbayah Mohd Suki

Abstract:

This research aims to examine the influence of mediating effect of corporate social responsibility on the relationship between consumer awareness of green marketing and purchase intentions in the retail setting. Data from 200 valid questionnaires was analyzed using the partial least squares (PLS) approach for the analysis of structural equation models with SmartPLS computer program version 2.0 as research data does not necessarily have a multivariate normal distribution and is less sensitive to sample size than other covariance approaches. PLS results revealed that corporate social responsibility partially mediated the link between consumer awareness of green marketing and purchase intentions of the product in the retail setting. Marketing managers should allocate a sufficient portion of their budget to appropriate corporate social responsibility activities by engaging in voluntary programs for positive return on investment leading to increased business profitability and long run business sustainability. The outcomes of the mediating effects of corporate social responsibility add a new impetus to the growing literature and preceding discoveries on consumer green marketing awareness, which is inadequately researched in the Malaysian setting. Direction for future research is also presented.

Keywords: green marketing awareness, social responsibility, partial least squares, purchase intention

Procedia PDF Downloads 575

Authors: Nargis Ali

Abstract:

Since the modest fashion market is growing in the UK, there is still little understanding and more concerns found among researchers and marketers about Muslim consumers. Therefore, the present study is designed to explore critical factors influencing Muslim women’s intention to purchase clothing and to identify the differences in the purchase intention of ethnic minority groups in the UK. The conceptual framework is designed using the theory of planned behavior and social identity theory. In order to satisfy the research objectives, a structured online questionnaire was published on Facebook from 20 November to 21 March. As a result, 1087 usable questionnaires were received and used to assess the proposed model fit through structural equation modeling. Results revealed that social media does influence the purchase intention of Muslim women. Muslim women search for stylish clothes that provide comfort during summer while they prefer soft and subdued colors. Furthermore, religious knowledge and religious practice, and fashion uniqueness strongly influence their purchase intention, while hybrid identity is negatively related to the purchase intention of Muslim women. This research contributes to the literature linked to Muslim consumers at a time when the UK's large retailers were seeking to attract Muslim consumers through modestly designed outfits. Besides, it will be helpful to formulate or revise product and marketing strategies according to UK’s Muslim women’s tastes and needs.

Keywords: fashion uniqueness, hybrid identity, religiosity, social media, social identity theory, structural equation modeling, theory of planned behavior

Procedia PDF Downloads 195

Authors: J. H. Lee

Abstract:

As the internet and smartphone use increases, the E-Commerce is constantly growing. Therefore, the parcel is increasing continuously every year. If the larger amount than the processing capacity of the current facilities is received, they do not process, and the delivery quality becomes low. In this paper, therefore, we analyze comparatively at the cost perspective between the case of building a new facility for the increasing parcel volumes and the case of reorganizing the current operating system. We propose the optimal discount policy per parcel by calculating the construction cost of new automated facility and manual facilities until the construction of the new automated facility, and discount price.

Keywords: system reorganization, load balancing, parcel sorting, discount policy

Procedia PDF Downloads 232

Authors: Fatima Ali Abbass, Hassan Ibrahim Rkein

Abstract:

The number of entities worldwide that currently accept digital currency as payment is increasing; however, digital currency still is not widely accepted as a medium of exchange, nor they represent legal tender. At the same time, this makes accounting for cryptocurrency, as cash (Currency) is not possible under IAS 7 and IAS 32, Cryptocurrency also cannot be accounted for as Financial Assets at fair value through profit or loss under IFRS 9. Therefore, this paper studies the possible means to account for Cryptocurrency, since, as of today, there is not yet an accounting standard that deals with cryptocurrency. The request to have a specific accounting standard is increasing from top accounting firms and from professional accounting bodies. This study uses a mixture of qualitative and quantitative analysis in its quest to explore the best possible way to account for cryptocurrency. Interviews and surveys were conducted targeting accounting professionals. This study highlighted the deficiencies in the current way of accounting for Cryptocurrency as intangible Assets with an indefinite life. The deficiency becomes well highlighted, as the asset will then be subject to impairment, where under GAAP, only depreciation in the value of the intangible asset is recognized. On the other hand, appreciation in the value of the asset is ignored, and this prohibits the reporting entity from showing the true value of the cryptocurrency asset. This research highlights the gap that arises due to using accounting standards that are not specific for Cryptocurrency and this study confirmed that there is an urgent need to call upon the accounting standards setters (IASB and FASB) to issue accounting standards specifically for Cryptocurrency.

Keywords: cryptocurrency, accounting, IFRS, GAAP, classification, measurement

Procedia PDF Downloads 65

Authors: Sunaitan Al Mutairi, Kumar Vallatharasu, Batool Ismaeel

Abstract:

The Water Knock-Out (WKO) facility project is to handle the undesirable impact of the increasing water production rate in South and East Kuwait (S&EK) areas and break the emulsions and ensure sufficient separation of water at the new upstream facility, to reduce the load on the existing separation equipment in the Gathering Centers (GC). As the existing separation equipment in the Gathering Centers are not efficient to separate the emulsions, the Compact Electrostatic Coalescer (CEC) and Vessel Internal Electrostatic Coalescer (VIEC) technologies have been selected for enhancing the liquid-liquid separation by using the alternating voltage/frequency on electrical fields, to handle the increasing water-cut in S&EK. In the Compact Electrostatic Coalescer (CEC) technology method, the CEC equipment is installed downstream of the inlet separator externally, whereas in the Vessel Internal Electrostatic Coalescer (VIEC) technology method, the VIEC is built inside the treater vessel, downstream of the inlet separator with advanced internals for implementing electrocoalescence of water particles and hence enhancing liquids separation. The CEC and VIEC technologies used in the Water Knockout Facility project has the ability to resolve the increasing water cut in the S&EK area and able to enhance the liquid-liquid separation in the WKO facility separation equipment. In addition, the WKO facility is minimizing the load on the existing Gathering Center’s separation equipment, by tackling the high water-cut wells, upstream of each GC. The required performances at the outlet of the WKO facility are Oil in Water 100ppmv, Water in Oil 15% volume, liquid carryover in gas 0.1 US gal/MMSCFD, for the water cut ranging from 37.5 to 75% volume. The WKO facility project is used to sustain, support and maintain Greater Burgan production at 1.7 Million Barrels of Oil Per Day (MMBOPD), by handling the increasing water production rate.

Keywords: emulsion, increasing water-cut, production, separation equipment

Procedia PDF Downloads 200

Authors: Scott R. Butler

Abstract:

Ontario, Canada’s largest province, is in the midst of an interesting experiment in mandated asset management planning for local governments. At the beginning of 2021, Ontario’s 444 municipalities were responsible for the management of 302,864 lane kilometers of roads that have a replacement cost of $97.545 billion CDN. Roadways are by far the most complex, expensive, and extensive assets that a municipality is responsible for overseeing. Since adopting Ontario Regulation 588/47: Asset Management Planning for Municipal Infrastructure in 2017, the provincial government has established prescriptions for local road authorities regarding asset category and levels of service being provided. This provincial regulation further stipulates that asset data such as extent, condition, and life cycle costing are to be captured in manner compliant with qualitative descriptions and technical metrics. The Ontario Good Roads Association undertook an exercise to aggregate the road-related data contained within the 444 asset management plans that municipalities have filed with the provincial government. This analysis concluded that collectively Ontario municipal roadways have a $34.7 billion CDN in deferred maintenance. The ill-state of repair of Ontario municipal roads has lasting implications for province’s economic competitiveness and has garnered considerable political attention. Municipal efforts to address the maintenance backlog are stymied by the extremely limited fiscal parameters municipalities must operate within in Ontario. Further exacerbating the program are provincially designed programs that are ineffective, administratively burdensome, and not necessarily aligned with local priorities or strategies. This paper addresses how municipal asset management plans – and more specifically, the data contained in these plans – can be used to design innovative policy frameworks, flexible funding programs, and new levels of service that respond to these funding challenges, as well as emerging issues such as local economic development and climate change. To fully unlock the potential that Ontario Regulation 588/17 has imposed will require a resolute commitment to data standardization and horizontal collaboration between municipalities within regions.

Keywords: transportation, municipal asset management, subnational policy design, subnational funding program design

Procedia PDF Downloads 65

Authors: Sanskriti Singh, Ankit Tomar

Abstract:

Banks are the instrument of growth of a country. Banks mobilize the savings of the public in the form of deposits and channelize it as advances for various activities required for the development of society at large. The advance which becomes unpaid for a certain period is called Non Performing Asset of the bank. The study makes an attempt to bring out the magnitude of NPA and its impact on profit, advances. An attempt is also made to bring out the challenges NPA poses to the banks and suggestions to overcome and to manage NPA effectively.

Keywords: India, NPAs, private banks, public banks

Procedia PDF Downloads 256

Authors: Ushir Daya, Zenadene Lazarus, Dimelle Moodley, Ehsan Saghatforoush

Abstract:

It was found through literature that there is a lack of implementation of the Internet of Things (IoT) incorporated into Building Information Modelling (BIM) in South Africa. The research aims to find if the implementation of IoT into BIM will make BIM more useful during the maintenance stage of buildings and assist facility managers when doing their job. The research will look at the existing problematic areas with building information modelling, specifically BIM 7D. This paper will look at the capabilities of IoT and what issues IoT will be able to resolve in BIM software, as well as how IoT into BIM will assist facility managers and if such an implementation will make a facility manager's job more efficient.

Keywords: internet of things, building information modeling, facilities management, structural health monitoring

Procedia PDF Downloads 166

Authors: Norazlan Alias, Mohd. Hasimi Yaacob

Abstract:

This study examines the impact of governance structure via corporate restructuring decision on selected firm characteristics and performance. Results of selected ratios that represent corporate decision, governance structure and performance in pre and post restructuring are analyzed for some conclusions. This study uses annual data of companies that are consistently listed on the Main Board of Bursa Malaysia and announced completed corporate restructuring. The results show that only debt ratio is significantly different before and after asset restructuring. This study concludes that firms do not view corporate restructuring namely asset restructuring as an opportunity to simultaneous enhance governance structure that could also contribute enhance firm performance and board of directors’ structure subsequent to asset restructuring only has significantly influence on changing capital structure but not on firm performance.

Keywords: board of directors, capital structure, corporate restructuring, performance

Procedia PDF Downloads 369

Authors: Samatha Ss Sutton, Kaouther Kooli

Abstract:

In recent years social media influences (SMI) have become integrated into many companies marketing strategies to create buzz, target new and younger markets and further expand social media coverage in business (Lim et al 2017). SMI’s can be defined as online personalities with a substantial number of followers, across one or more social media platforms, with influence on their followers (Lou and Yuan 2018). Recently expenditure on influencer marketing has increased exponentially becoming an important area for marketing opportunities and strategies in the future (Lou and Yuan 2018). In order to market products and brands effectively through SMI’s it is important for business to understand the attributes of SMI that effect purchase intention (Lim et al 2017) of their followers and whether or not these attributes vary across generations so to market effectively to their specific segment or target market. The present study involves quantitative research to understand the attributes by which influence differs across generations namely Generation X and Millennials and its effects on purchase intentions of these generational groups. A survey will be conducted using an online questionnaire. Structural Equation Modelling and Multi group analysis will be applied. The study provides insight to marketers/decision makers on how to use influencers accordingly with their target consumer.

Keywords: social media marketing, social media influencers, attitude towards social media influencers, intention to purchase

Procedia PDF Downloads 103

Authors: G. Mattia, A. Di Leo, L. Principato

Abstract:

The purchase impulsiveness is preceded by a lack of self-control: consequently, it is legitimate to believe that a consumer with a low level of self-control can result in a higher probability of cognitive dissonance. Moreover, the process of purchase is influenced by the pre-existing affective state in a considerable way. With reference to on-line purchases, digital behavior cannot be merely ascribed to the rational sphere, given the speed and ease of transactions and the hedonistic dimension of purchases. To our knowledge, this research is among the first cases of verification of the effect of moderation exerted by the positive affective state in the on-line impulse purchase of products with a high expressive value such as a smartphone on the occurrence of cognitive dissonance. To this aim, a moderation analysis was conducted on a sample of 212 impulsive millennials buyers. Three scales were adopted to measure the constructs of interest: IBTS for impulsivity, PANAS for the affective state, Sweeney for cognitive dissonance. The analysis revealed that positive affective state does not affect the onset of cognitive dissonance.

Keywords: cognitive dissonance, impulsive buying, online shopping, online consumer behavior

Procedia PDF Downloads 128

Authors: Fatima Alsalem

Abstract:

Objectives: This study aims to explore the perceived credibility of social media influencers and their effect on purchase intention. In addition, the study aims to investigate the relationship between satisfaction with content promoted via social media and its relation to purchasing intention. Methodology: This study uses an exploratory and quantitative methodology. It was implemented through a cross-sectional survey that asked respondents to identify the time they spend using social media, satisfaction with influencers’ content, types of influencers they prefer, motivations to use social media, purchase intention of products promoted by influencers, as well as three credibility dimensions. Sample: the sample included 1184 Kuwaiti nationals, of which 50.4% (N=593) were males and 49.6% (N=584) were females. Results: The analysis of the data indicated that comedy and entertainment influencers are the most preferred type of influencers, while fashion influencers “fashionistas” are the least preferred. Based on the results of the regression analysis, the perceived credibility of influencers and satisfaction with their content is positively related to higher purchase intention. While all dimensions of credibility are positively related to higher purchase intention, attractiveness is the strongest predictor. Conclusion: The significant value of this study is the examination of the perceived credibility of influencers and the type of influencer social media users prefer to follow. The current research proves that the attractiveness of influencers is the highest dimension of their perceived credibility, which was prevalent in the findings.

Keywords: influencers, social media, mass media, credibility

Procedia PDF Downloads 183

Authors: Eisa A. Alsafran, Francis T. Edum-Fotwe, Wayne E. Lord

Abstract:

The degree to which a public client actively participates in Public Private Partnership (PPP) schemes, is seen as a determinant of the success of the arrangement, and in particular, efficiency in the delivery of the assets of any infrastructure development. The asset delivery is often an early barometer for judging the overall performance of the PPP. Currently, there are no defined descriptors for the degree of such participation. The lack of defined descriptors makes the association between the degree of participation and efficiency of asset delivery, difficult to establish. This is particularly so if an optimum effect is desired. In addition, such an association is important for the strategic decision to embark on any PPP initiative. This paper presents a conceptual model of different levels of participation that characterise PPP schemes. The modelling was achieved by a systematic review of reported sources that address essential aspects and structures of PPP schemes, published from 2001 to 2015. As a precursor to the modelling, the common areas of Public Client Participation (PCP) were investigated. Equity and risk emerged as two dominant factors in the common areas of PCP, and were therefore adopted to form the foundation of the modelling. The resultant conceptual model defines the different states of combined PCP. The defined states provide a more rational basis for establishing how the degree of PCP affects the efficiency of asset delivery in PPP schemes.

Keywords: asset delivery, infrastructure development, public private partnership, public client participation

Procedia PDF Downloads 240

Authors: Ruan Yi-Chen, Li Wang-Ming, Fang Yuan

Abstract:

With the rapid growth of urbanization in China in recent years, public services are in short supply because of expanding population and limitation of financial support, which makes delicate configuration of public service facilities to become a trend in urban planning. Besides, the facility configuration standard implemented in China is equal to the whole the urban area without considering internal differences in it. Therefore, this article focuses on population Spatial disparities analysis in order to optimize facility configuration in communities of main city district. The used data, including population of 93 communities during 2010 to 2015, comes from GongShu district, Hangzhou city, PRC. Through the analysis of population data, especially the age structure of those communities, the communities finally divided into 3 types. Obviously, urban public service facilities allocation situation directly affect the quality of residents common lives, which turns out that deferent kinds of communities with deferent groups of citizens will have divergences in facility demanding. So in the end of the article, strategies of facility configuration will be proposed based on the population analysis in order to optimize the quantity and location of facilities with delicacy.

Keywords: delicacy, facility configuration, population spatial disparities, urban area

Procedia PDF Downloads 351

Authors: Ghita Benayad

Abstract:

Asset allocation, which affects the long-term profitability of portfolios by distributing assets to fulfill a range of investment objectives, is the cornerstone of investment management in the dynamic and complicated world of financial markets. This paper offers a technique for optimizing strategic asset allocation with the goal of improving portfolio performance by addressing the inherent complexity and uncertainty of the market through the use of Principal Component Analysis (PCA) in a multi-objective modeling framework. The study's first section starts with a critical evaluation of conventional asset allocation techniques, highlighting how poorly they are able to capture the intricate relationships between assets and the volatile nature of the market. In order to overcome these challenges, the project suggests a PCA-driven methodology that isolates important characteristics influencing asset returns by decreasing the dimensionality of the investment universe. This decrease provides a stronger basis for asset allocation decisions by facilitating a clearer understanding of market structures and behaviors. Using a multi-objective optimization model, the project builds on this foundation by taking into account a number of performance metrics at once, including risk minimization, return maximization, and the accomplishment of predetermined investment goals like regulatory compliance or sustainability standards. This model provides a more comprehensive understanding of investor preferences and portfolio performance in comparison to conventional single-objective optimization techniques. While applying the PCA-driven multi-objective optimization model to historical market data, aiming to construct portfolios better under different market situations. As compared to portfolios produced from conventional asset allocation methodologies, the results show that portfolios optimized using the proposed method display improved risk-adjusted returns, more resilience to market downturns, and better alignment with specified investment objectives. The study also looks at the implications of this PCA technique for portfolio management, including the prospect that it might give investors a more advanced framework for navigating financial markets. The findings suggest that by combining PCA with multi-objective optimization, investors may obtain a more strategic and informed asset allocation that is responsive to both market conditions and individual investment preferences. In conclusion, this capstone project improves the field of financial engineering by creating a sophisticated asset allocation optimization model that integrates PCA with multi-objective optimization. In addition to raising concerns about the condition of asset allocation today, the proposed method of portfolio management opens up new avenues for research and application in the area of investment techniques.

Keywords: asset allocation, portfolio optimization, principle component analysis, multi-objective modelling, financial market

Procedia PDF Downloads 17

Authors: Cihan Çetinkaya, Eren Özceylan, Kerem Elibal

Abstract:

This paper presents a solution method for selection of production facility. The motivation has been taken from a real life case, an automotive subcontractor which has two production facilities at different cities and parts. The problem is to decide which part(s) should be produced at which facility. To the best of our knowledge, until this study, there was no scientific approach about this problem at the firm and decisions were being given intuitively. In this study, some logistic cost parameters have been defined and with these parameters a mathematical model has been constructed. Defined and collected cost parameters are handling cost of parts, shipment cost of parts and shipment cost of welding fixtures. Constructed multi-objective mathematical model aims to minimize these costs while aims to balance the workload between two locations. Results showed that defined model can give optimum solutions in reasonable computing times. Also, this result gave encouragement to develop the model with addition of new logistic cost parameters.

Keywords: automotive subcontract, facility assignment, logistic costs, multi-objective models

Procedia PDF Downloads 336

Authors: Luisa Unda, Kamran Ahmed, Paul Mather

Abstract:

We examine the effect of board characteristics on the performance and asset quality of credit unions in Australia, using a large sample covering the period 2004-2012. Credit unions are unique in that they are customer-owned financial institutions and directors are democratically elected by members, which is distinctly different from other financial institutions, such as commercial banks. We find that board remuneration, board expertise, and attendance at board meetings have significantly positive impacts on credit union performance and asset quality, while board members who hold multiple directorships (busy directors), have a significant negative impact on credit union performance. Financial performance also improves with larger boards and long-tenured directors in credit unions. All of these relations hold after we control for alternative measures of performance, credit union characteristics and endogeneity problem.

Keywords: credit unions, corporate governance, board of directors, financial performance, Australia, asset quality

Procedia PDF Downloads 474

Authors: Hyunsik Park

Abstract:

Objective: To provide information of charged nursing care facility for helping to establish geriatric health care policy, and to figure out which factors would be the main determinants for the choice of it. Method: 46 males and 53 females, and the same number of their caregivers admitted into the charged nursing care facility were recruited for intensive interview including personal information, disease information, and economic, familial, marital and emotional statuses. This is a cross-sectional study and we analyzed the data qualitatively. Results: Patients had 3.2 diseases and a hospitalization for 2.3 years on average. They were consists of 46 singles (46.9%), 8 unmarried (8.2%), 5 divorced (5.1%) and 32 married (32.7%). More than two third (70.1%) were supported by their eldest son or daughter. Mostly, the family caregivers decided to admit into the facilities by the doctor’s recommendation (68.4%). When they made a choice for a facility, most of them (42.9%) considered environmental and sanitary conditions. According to their expectation for management in nursing care facility, most caregivers (59.2%) wanted simple-staying for the duration, but most patients (61.3%) expected to be home after taking comprehensive rehabilitation. Three-quarter of the caregivers would agree to use nursing care facilities in the future, if they would be the same situation. Conclusion: Life style and environment are rapidly changing. In the near future, we need lots of the charged nursing care facilities for the old, thus this study can be the good reference for the preparing upcoming aged and super-aged society.

Keywords: nursing care facility, aged society, qualitative analysis, health

Procedia PDF Downloads 450

Authors: Lenka Krsnakova, Petr Jirsak

Abstract:

Prior research on facility location in supply chain is mostly focused on improvement of mathematical models. It is due to the fact that supply chain design has been for the long time the area of operational research that underscores mainly quantitative criteria. Qualitative criteria are still highly neglected within the supply chain design research. Facility location in the supply chain has become multi-criteria decision-making problem rather than single criteria decision due to changes of market conditions. Thus, both qualitative and quantitative criteria have to be included in the decision making process. The aim of this study is to emphasize the importance of qualitative criteria as key parameters of relevant mathematical models. We examine which criteria are taken into consideration when Czech companies decide about their facility location. A literature review on criteria being used in facility location decision making process creates a theoretical background for the study. The data collection was conducted through questionnaire survey. Questionnaire was sent to manufacturing and business companies of all sizes (small, medium and large enterprises) with the representation in the Czech Republic within following sectors: automotive, toys, clothing industry, electronics and pharmaceutical industry. Comparison of which criteria prevail in the current research and which are considered important by companies in the Czech Republic is made. Despite the number of articles focused on supply chain design, only minority of them consider qualitative criteria and rarely process supply chain design as a multi-criteria decision making problem. Preliminary results of the questionnaire survey outlines that companies in the Czech Republic see the qualitative criteria and their impact on facility location decision as crucial. Qualitative criteria as company strategy, quality of working environment or future development expectations are confirmed to be considered by Czech companies. This study confirms that the qualitative criteria can significantly influence whether a particular location could or could not be right place for a logistic facility. The research has two major limitations: researchers who focus on improving of mathematical models mostly do not mention criteria that enter the model. Czech supply chain managers selected important criteria from the group of 18 available criteria and assign them importance weights. It does not necessarily mean that these criteria were taken into consideration when the last facility location was chosen, but how they perceive that today. Since the study confirmed the necessity of future research on how qualitative criteria influence decision making process about facility location, the authors have already started in-depth interviews with participating companies to reveal how the inclusion of qualitative criteria into decision making process about facility location influence the company´s performance.

Keywords: criteria influencing facility location, Czech Republic, facility location decision-making, qualitative criteria

Procedia PDF Downloads 292

Authors: Marcelo Müller Beuren, José Luis Duarte Ribeiro

Abstract:

Studies point that Brazilian large airports are not managing their assets efficiently. Therefore, organizations seek improvements to raise their asset’s productivity. Hence, identification of assets useful life in airports becomes an important subject, since its accuracy leads to better maintenance plans and technological substitution, contribution to airport services management. However, current useful life prediction models do not converge in terms of determinant elements used, as they are particular to the studied situation. For that reason, the main objective of this paper is to identify the determinant elements for a useful life of major assets in airports. With that purpose, a case study was held in the key airport of the south of Brazil trough historical data analysis and specialist interview. This paper concluded that most of the assets useful life are determined by technical elements, maintenance cost, and operational costs, while few presented influence of technological obsolescence. As a highlight, it was possible to identify the determinant elements to be considered by a model which objective is to identify the useful life of airport’s major assets.

Keywords: airports, asset management, asset useful life

Procedia PDF Downloads 487

Authors: Ahmad Alsaber

Abstract:

This paper aims to understand the intermediary role of the payment platform applications by analyzing the various factors that can influence the desirability of utilizing said payment services in Kuwait, as well as to determine the effect of the presence of different types of payment platforms on the variables of the “Unified Theory of Acceptance and Use of Technology” (UTAUT) model. The UTAUT model's findings will provide an important understanding of the moderating role of payment platform mobile applications. This study will explore the influence of payment platform mobile applications on customer purchase intentions in Kuwait by employing a quantitative survey of 200 local customers. Questions will cover their usage of payment platforms, purchase intent, and overall satisfaction. The information gathered is then analyzed using descriptive statistics and correlation analysis in order to gain insights. The research hopes to provide greater insight into the effect of mobile payment platforms on customer purchase intentions in Kuwait. This research will provide important implications to marketers and customer service providers, informing their strategies and initiatives, as well as offer recommendations to payment platform providers on how to improve customer satisfaction and security. The study results suggest that the likelihood of a purchase is affected by performance expectancy, effort expectancy, social influence, risk, and trust. The purpose of this research is to understand the advancements in the different variables that Kuwaiti customers consider while dealing with mobile banking applications. With the implementation of stronger security measures, progressively more payment platform applications are being utilized in the Kuwaiti marketplace, making them more desirable with their accessibility and usability. With the development of the Kuwaiti digital economy, it is expected that mobile banking will have a greater impact on banking transactions and services in the future.

Keywords: purchase intention, UTAUT, performance expectancy, social influence, risk, trust

Procedia PDF Downloads 60

Authors: Abootaleb Shirvani, Svetlozar Rachev

Abstract:

ESG stands for Environmental, Social, and Governance and is a non-financial factor that investors use to specify material risks and growth opportunities in their analysis process. ESG ratings provide a quantitative measure of socially responsible investment, and it is essential to incorporate ESG ratings when modeling the dynamics of asset returns. In this article, we propose a triple subordinated Lévy process for incorporating numeric ESG ratings into dynamic asset pricing theory to model the time series properties of the stock returns. The motivation for introducing three layers of subordinator is twofold. The first two layers of subordinator capture the skew and fat-tailed properties of the stock return distribution that cannot be explained well by the existing Lévy subordinated model. The third layer of the subordinator introduces ESG valuation and incorporates numeric ESG ratings into dynamic asset pricing theory and option pricing. We employ the triple subordinator Lévy model for developing the ESG-valued stock return model, derive the implied ESG score surfaces for Microsoft, Apple, and Amazon stock returns, and compare the shape of the ESG implied surface scores for these stocks.

Keywords: ESG scores, dynamic asset pricing theory, multiple subordinated modeling, Lévy processes, option pricing

Procedia PDF Downloads 44

Authors: Thewodros K. Geberemariam

Abstract:

The rapid physical expansion of urbanization coupled with aging infrastructure presents a unique decision and management challenges for many big city municipalities. Cities must therefore upgrade and maintain the existing aging urban drainage infrastructure systems to keep up with the demands. Given the overall contribution of assets to municipal revenue and the importance of infrastructure to the success of a livable city, many municipalities are currently looking for a robust and smart urban drainage infrastructure asset management solution that combines management, financial, engineering and technical practices. This robust decision-making shall rely on sound, complete, current and relevant data that enables asset valuation, impairment testing, lifecycle modeling, and forecasting across the multiple asset portfolios. On this paper, predictive computational intelligence (CI) and multi-class machine learning (ML) coupled with online, offline, and historical record data that are collected from an array of multi-parameter sensors are used for the extraction of different operational and non-conforming patterns hidden in structured and unstructured data to determine and produce actionable insight on the current and future states of the network. This paper aims to improve the strategic decision-making process by identifying all possible alternatives; evaluate the risk of each alternative, and choose the alternative most likely to attain the required goal in a cost-effective manner using historical and near real-time urban drainage infrastructure data for urban drainage infrastructures assets that have previously not benefited from computational intelligence and machine learning advancements.

Keywords: computational intelligence, machine learning, urban drainage infrastructure, machine learning, classification, prediction, asset management space

Procedia PDF Downloads 116

Authors: Sutharsini Jesuthasan, N. Umakanth

Abstract:

Presently the impact of electronic word of mouth on consumer’s purchasing intentions very popular one for a long time period. Even though now this E-WOM got a new evolution through social media. Before this new concept, general people were able to speak with any people on the internet. But likely social media enable people to talk with colleagues, friends and other people on the internet. Meanwhile, this new path way of E-WOM might be more powerful in terms of confusing purchase intention. And negative side of E-WOM very important in this competitive era. So, this study elaborates the negative E-WOM within the context of social media such as face book. And especially this study identifies the influence of negative E-WOM in social media on consumer’s purchase intention. Virtual snowball sampling method was used by researcher to identify the hidden population. Finally, spss 20.0 also used for data analysis purpose. And conclusion and recommendations are given based on the findings. And this research also will support to both parties such as researcher and participants.

Keywords: word of mouth, social media, purchase intention, electronic word of mouth

Procedia PDF Downloads 121

Authors: Li-Wei Wu, Chung-Yu Wang

Abstract:

Recently, interest has been generated in the search for a new reference framework for value creation that is centered on the co-creation process. Co-creation implies cooperative value creation between service firms and customers and requires the building of experiences as well as the resolution of problems through the combined effort of the parties in the relationship. For customers, values are always co-created through their participation in services. Customers can ultimately determine the value of the service in use. This new approach emphasizes that a customer’s participation in the service process is considered indispensable to value co-creation. An important feature of service in the context of exchange is co-production, which implies that a certain amount of participation is needed from customers to co-produce a service and hence co-create value. Co-production no doubt helps customers better understand and take charge of their own roles in the service process. Thus, this proposal is to encourage co-production, thus facilitating value co-creation of that is reflected in both customers and service firms. Four determinants of co-production are identified in this study, namely, commitment, trust, asset specificity, and decision-making uncertainty. Commitment is an essential dimension that directly results in successful cooperative behaviors. Trust helps establish a relational environment that is fundamental to cross-border cooperation. Asset specificity motivates co-production because this determinant may enhance return on asset investment. Decision-making uncertainty prompts customers to collaborate with service firms in making decisions. In other words, customers adjust their roles and are increasingly engaged in co-production when commitment, trust, asset specificity, and decision-making uncertainty are enhanced. Although studies have examined the preceding effects, to our best knowledge, none has empirically examined the simultaneous effects of all the curvilinear relationships in a single study. When these determinants are excessive, however, customers will not engage in co-production process. In brief, we suggest that the relationships of commitment, trust, asset specificity, and decision-making uncertainty with co-production are curvilinear or are inverse U-shaped. These new forms of curvilinear relationships have not been identified in existing literature on co-production; therefore, they complement extant linear approaches. Most importantly, we aim to consider both the bright and the dark sides of the determinants of co-production.

Keywords: co-production, commitment, trust, asset specificity, decision-making uncertainty

Procedia PDF Downloads 163