Search results for: automotive sector
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 3373

Search results for: automotive sector

3193 Examining Risk Based Approach to Financial Crime in the Charity Sector: The Challenges and Solutions, Evidence from the Regulation of Charities in England and Wales

Authors: Paschal Ohalehi

Abstract:

Purpose - The purpose of this paper, which is part of a PhD thesis is to examine the role of risk based approach in minimising financial crime in the charity sector as well as offer recommendations to improving the quality of charity regulation whilst still retaining risk based approach as a regulatory framework and also making a case for a new regulatory model. Increase in financial crimes in the charity sector has put the role of regulation in minimising financial crime up for debates amongst researchers and practitioners. Although previous research has addressed the regulation of charities, research on the role of risk based approach to minimising financial crime in the charity sector is limited. Financial crime is a concern for all organisation including charities. Design/methodology/approach - This research adopts a social constructionist’s epistemological position. This research is carried out using semi structured in-depth interviews amongst randomly selected 24 charity trustees divided into three classes: 10 small charities, 10 medium charities and 4 large charities. The researcher also interviewed 4 stakeholders (NFA, Charity Commission and two different police forces in terms of size and area of coverage) in the charity sector. Findings - The results of this research show that reliance on risk based approach to financial crime in the sector is weak and fragmented with the research pointing to a clear evidence of disconnect between the regulator and the regulated leading to little or lack of regulation of trustees’ activities, limited monitoring of charities and lack of training and awareness on financial crime in the sector. Originality – This paper shows how regulation of charities in general and risk based approach in particular can be improved in order to meet the expectations of the stakeholders, the public, the regulator and the regulated.

Keywords: risk, risk based approach, financial crime, fraud, self-regulation

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3192 Integrated Farming Barns as a Strategy for National Food Security

Authors: Ilma Ulfatul Janah, Ibnu Rizky Briwantara, Muhammad Afif

Abstract:

The agricultural sector is one of the sectors that contribute to national development. The benefit of the agricultural sector can be felt directly by the majority of Indonesian people. Indonesia is one of the agricultural countries and most of the people working in the agricultural sector. Hence, the agricultural sector’s become the second sector which has contributed greatly to the growth of Gross Domestic Product (GDP) after the manufacture sector. Based on the National Medium Term Development Plan (RPJMN) from 2015 to 2019, one of the targets to be achieved by the Indonesian government is rice’s self-sufficient. Rice is the main food commodities which as most people in Indonesia, and it is making Indonesian government attempt self-sufficient in rice. Indonesia as an agricultural country becomes one of the countries that have a lower percentage of food security than other ASEAN countries. Rice self-sufficiency can be created through agricultural productivity and the availability of a market for the output. There are some problems still to be faced by the farmers such as farmer exchange rate is low. The low exchange rate of farmers showed that the level of the welfare’s Indonesian farmers is still low. The aims of this paper are to resolve problems related to food security and improve the welfare of the national rice farmers. The method by using materials obtained from the analysis of secondary data with the descriptive approach and conceptual framework. Integrated Farmers barn raising rice production is integrated and managed by the government coupled with the implementation of technology in the form of systems connected and accessible to farmers, namely 'SIBUNGTAN'.

Keywords: agriculture, self-sufficiency, technology, productivity

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3191 A Web and Cloud-Based Measurement System Analysis Tool for the Automotive Industry

Authors: C. A. Barros, Ana P. Barroso

Abstract:

Any industrial company needs to determine the amount of variation that exists within its measurement process and guarantee the reliability of their data, studying the performance of their measurement system, in terms of linearity, bias, repeatability and reproducibility and stability. This issue is critical for automotive industry suppliers, who are required to be certified by the 16949:2016 standard (replaces the ISO/TS 16949) of International Automotive Task Force, defining the requirements of a quality management system for companies in the automotive industry. Measurement System Analysis (MSA) is one of the mandatory tools. Frequently, the measurement system in companies is not connected to the equipment and do not incorporate the methods proposed by the Automotive Industry Action Group (AIAG). To address these constraints, an R&D project is in progress, whose objective is to develop a web and cloud-based MSA tool. This MSA tool incorporates Industry 4.0 concepts, such as, Internet of Things (IoT) protocols to assure the connection with the measuring equipment, cloud computing, artificial intelligence, statistical tools, and advanced mathematical algorithms. This paper presents the preliminary findings of the project. The web and cloud-based MSA tool is innovative because it implements all statistical tests proposed in the MSA-4 reference manual from AIAG as well as other emerging methods and techniques. As it is integrated with the measuring devices, it reduces the manual input of data and therefore the errors. The tool ensures traceability of all performed tests and can be used in quality laboratories and in the production lines. Besides, it monitors MSAs over time, allowing both the analysis of deviations from the variation of the measurements performed and the management of measurement equipment and calibrations. To develop the MSA tool a ten-step approach was implemented. Firstly, it was performed a benchmarking analysis of the current competitors and commercial solutions linked to MSA, concerning Industry 4.0 paradigm. Next, an analysis of the size of the target market for the MSA tool was done. Afterwards, data flow and traceability requirements were analysed in order to implement an IoT data network that interconnects with the equipment, preferably via wireless. The MSA web solution was designed under UI/UX principles and an API in python language was developed to perform the algorithms and the statistical analysis. Continuous validation of the tool by companies is being performed to assure real time management of the ‘big data’. The main results of this R&D project are: MSA Tool, web and cloud-based; Python API; New Algorithms to the market; and Style Guide of UI/UX of the tool. The MSA tool proposed adds value to the state of the art as it ensures an effective response to the new challenges of measurement systems, which are increasingly critical in production processes. Although the automotive industry has triggered the development of this innovative MSA tool, other industries would also benefit from it. Currently, companies from molds and plastics, chemical and food industry are already validating it.

Keywords: automotive Industry, industry 4.0, Internet of Things, IATF 16949:2016, measurement system analysis

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3190 Comparative Study to Evaluate the Efficacy of Control Criterion in Determining Consolidation Scope in the Public Sector

Authors: Batool Zarei

Abstract:

This study aims to answer this question whether control criterion with two elements of power and benefit which is introduced as 'control criterion of consolidation scope' in national and international standards of accounting in public sector (and also private sector) is efficient enough or not. The methodology of this study is comparative and the results of this research are significantly generalizable, due to the given importance to the sample of countries which were studied. Findings of this study states that in spite of pervasive use of control criterion (including 2 elements of power and benefit), criteria for determining the existence of control in public sector accounting standards, are not efficient enough to determine the consolidation scope of whole of government financial statements in a way that meet decision making and accountability needs of managers, policy makers and supervisors; specially parliament. Therefore, the researcher believes that for determining consolidation scope in public sector, in addition to economic view, it is better to pay attention to budgetary, legal and statistical concepts and also to practical and financial risk and define indicators for proving the existence of control (power and benefit) which include accountability relationships (budgetary relation, legal form and nature of activity). these findings also reveals the necessity of passing a comprehensive public financial management (PFM) legislation in order to redefine the characteristics of public sector entities and whole of government financial statements scope and review Statistics organizations and central banks duties for preparing government financial statistics and national accounts in order to achieve sustainable development and resilient economy goals.

Keywords: control, consolidation scope, public sector accounting, government financial statistics, resilient economy

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3189 Cost Effectiveness of Transcatheter Aortic Valve Replacement vs Surgical Aortic Valve Replacement in a Low-Middle Income Country

Authors: Vasuki Rayapati, Bhanu Duggal

Abstract:

Trans catheter aortic valve replacement (TAVR) is the recommended treatment over surgical aortic valve replacement (SAVR) for high-risk groups, patients >75 years of age with severe symptomatic Aortic stenosis (AS). In high income countries TAVR is more cost effective because of – i) Reduction in total length of stay including less number of days in ICU ii) Non-procedural costs like cost of general anaesthesia are higher for SAVR. In India, there are two kinds of hospitals – Public and Private. Most patients visit public sector hospitals than private sector hospitals. In a LMIC like India, especially in the Public health sector cost of TAVR is prohibitive. In a small study from three (public) hospitals in India, it was envisaged that cost of TAVR should decrease at least by 2/3 to be a cost effective option in Public health sector for severe AS.

Keywords: cost effectiveness, TAVR vs SAVR, LMIC, HTA

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3188 The Effect of Resource Misallocation on the Productivity of Rice Farming in Thailand: Evidence from Household-Level Data

Authors: Siwapong Dheera-Aumpon

Abstract:

Resource misallocation is known to be prevalent in many countries. Such misallocation in the manufacturing sector is large and has a considerable negative effect on aggregate productivity. Thailand is one of the countries having large resource misallocation in the manufacturing sector. Resource misallocation is also known to be widespread in the agricultural sector. It is, therefore, likely that resource misallocation exists in the agricultural sector of Thailand as well. This study aims to evaluate the extent of resource misallocation in Thai rice farming. Using household-level data from 2013 Thai Agricultural Census, this study calculates farm total factor productivity (TFP) controlling for land quality and rain. Similar to the case of Malawi, marginal products of land and capital are found to be related to farm TFP implying large resource misallocation. The output gain from a reallocation of resources to their best use is 67 percent. The gain from reallocation is highest for farms in the southern region and followed by the northeastern region.

Keywords: agriculture, misallocation, productivity, rice

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3187 Thermal Fatigue Behavior of Austenitic Stainless Steels

Authors: Jung-Ho Moon, Tae Kwon Ha

Abstract:

Continually increasing working temperature and growing need for greater efficiency and reliability of automotive exhaust require systematic investigation into the thermal fatigue properties especially of high temperature stainless steels. In this study, thermal fatigue properties of 300 series austenitic stainless steels have been evaluated in the temperature ranges of 200-800°C and 200-900°C. Systematic methods for control of temperatures within the predetermined range and measurement of load applied to specimens as a function of temperature during thermal cycles have been established. Thermal fatigue tests were conducted under fully constrained condition, where both ends of specimens were completely fixed. Load relaxation behavior at the temperatures of thermal cycle was closely related with the thermal fatigue property.

Keywords: austenitic stainless steel, automotive exhaust, thermal fatigue, microstructure, load relaxation

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3186 Mobile Assembly of Electric Vehicles: Decentralized, Low-Invest and Flexible

Authors: Achim Kampker, Kai Kreiskoether, Johannes Wagner, Sarah Fluchs

Abstract:

The growing speed of innovation in related industries requires the automotive industry to adapt and increase release frequencies of new vehicle derivatives which implies a significant reduction of investments per vehicle and ramp-up times. Emerging markets in various parts of the world augment the currently dominating established main automotive markets. Local content requirements such as import tariffs on final products impede the accessibility of these micro markets, which is why in the future market exploitation will not be driven by pure sales activities anymore but rather by setting up local assembly units. The aim of this paper is to provide an overview of the concept of decentralized assembly and to discuss and critically assess some currently researched and crucial approaches in production technology. In order to determine the scope in which complementary mobile assembly can be profitable for manufacturers, a general cost model is set up and each cost driver is assessed with respect to varying levels of decentralization. One main result of the paper is that the presented approaches offer huge cost-saving potentials and are thus critical for future production strategies. Nevertheless, they still need to be further exploited in order for decentralized assembly to be profitable for companies. The optimal level of decentralization must, however, be specifically determined in each case and cannot be defined in general.

Keywords: automotive assembly, e-mobility, production technology, release capability, small series assembly

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3185 Nongovernmental Organisations’ Sustainable Strategic Planning and Its Impact on Donors’ Loyalty

Authors: Farah Mahmoud Attallah

Abstract:

The nonprofit sector has been heavily rising with the rise of sustainable development in developed and developing countries. Most economies are putting high pressure on this sector, believing that nongovernmental organizations (NGOs) are one of the main rescues during crises worldwide. Talking about the Egyptian NGOs, the number of those organizations has reached an average of 50,278 organizations which is the highest number Egypt has faced through the past decade. However, with the rising number of those NGOs comes their incapability of sustaining their performance and fundraising. Additionally, donors who are considered the key partners for those organizations have become knowledgeable about this sector which made them more demanding, putting high pressure on those organizations to believe that there must be a valuable return for the economy in order to donate. This research study aims to study the impact of a sustainable strategic planning model on raising loyal donors; the proposed model of this research presents several independent variables determining their impact on donors' intention to become loyal.

Keywords: nonprofit sector, non-governmental organizations, strategic planning, sustainable business model, CRM, RM

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3184 Accounting Performance of the Leading Companies in the Construction Sector in Brazil during the Period 2009-2012

Authors: Fabrício José Piacente, Vanessa de Cillos Silva, Thiago Luiz Mello Melato

Abstract:

The construction industry has been demonstrating increased growth and importance in Brazil’s national economic development. This study aims to evaluate the financial performance of the leading companies in the construction sector in Brazil in the period from 2009 to 2012. An analysis is made of the capital structure, liquidity, and profitability of the six largest companies in the construction sector in Brazil: Brookfield, Cyrela, Gafisa, MRV, PDG and Rossi. The results are then compared with standard industry ratios. It was found that among the companies analyzed, MRV and Cyrela showed the best relative performance in the period under consideration.

Keywords: accounting ratios, construction, financial performance, Brazil

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3183 Factors Affecting the Profitability of Commercial Banks: An Empirical Study of Indian Banking Sector

Authors: Neeraj Gupta, Jitendra Mahakud

Abstract:

The banking system plays a major role in the Indian economy. Banking system is the payment gateway of most of the financial transactions. Banking has gone a major transition that is still in progress. Recent banking reforms after liberalization in 1991 have led to the establishment of the foreign banks in the country. The foreign banks are not listed in the Indian stock markets and have increased the competition leading to the capture of the significant share in the revenue from the public sector banks which are still the major players in the Indian banking sector. The performance of the banking sector depends on the internal (bank specific) as well as the external (market specific and macroeconomic) factors. Profitability in banking sector is affected by numerous factors which can be internal or external. The present study examines these internal and external factors which are likely to effect the profitablilty of the Indian banks. The sample consists of a panel dataset of 64 commercial banks in India, consisting of 1088 observations over the years from 1998 to 2016. The GMM dynamic panel estimation given by Arellano and Bond has been used. The study revealed that the variables capital adequacy ratio, deposit, age, labour productivity, non-performing asset, inflation and concentration have significant effect on performance measured.

Keywords: banks in India, bank performance, bank productivity, banking management

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3182 Assessment of E-Readiness in Libraries of Public Sector Universities Khyber Pakhtunkhwa-Pakistan

Authors: Saeed Ullah Jan

Abstract:

This study has examined the e-readiness in libraries of public sector universities in Khyber Pakhtunkhwa. Efforts were made to evaluate the availability of human resources, electronic infrastructure, and network services and programs in the public sector university libraries. The population of the study was the twenty-seven public sector university libraries of Khyber Pakhtunkhwa. A quantitative approach was adopted, and a questionnaire-based survey was conducted to collect data from the librarian/in charge of public sector university libraries. The collected data were analyzed using Statistical Package for Social Sciences version 22 (SPSS). The mean score of the knowledge component interpreted magnitudes below three which indicates that the respondents are poorly or moderately satisfied regards knowledge of libraries. The satisfaction level of the respondents about the other components, such as electronic infrastructure, network services and programs, and enhancers of the networked world, was rated as average or below. The study suggested that major aspects of existing public-sector university libraries require significant transformation. For this purpose, the government should provide all the required resources and facilities to meet the population's informational and recreational demands. The Information Communication Technology (ICT) infrastructure of public university libraries needs improvement in terms of the availability of computer equipment, databases, network servers, multimedia projectors, digital cameras, uninterruptible power supply, scanners, and backup devices such as hard discs and Digital Video Disc/Compact Disc.

Keywords: ICT-libraries, e-readiness-libraries, e-readiness-university libraries, e-readiness-Pakistan

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3181 The Core Obstacles of Continuous Improvement Implementation: Some Key Findings from Health and Education Sectors

Authors: Abdullah Alhaqbani

Abstract:

Purpose: Implementing continuous improvement is a challenge that public sector organisations face in becoming successful. Many obstacles hinder public organisations from successfully implementing continuous improvement. This paper aims to highlight the key core obstacles that face public organisations to implement continuous improvement programmes. Approach: Based on the literature, this paper reviews 66 papers that were published between 2000 and 2013 and that focused on the concept of continuous improvement and improvement methodologies in the context of public sector organisations. The methodologies for continuous improvement covered in these papers include Total Quality Management, Six Sigma, process re-engineering, lean thinking and Kaizen. Findings: Of the 24 obstacles found in the literature, 11 barriers were seen as core barriers that frequently occurred in public sector organisations. The findings indicate that lack of top management commitment; organisational culture and political issues and resistance to change are significant obstacles for improvement programmes. Moreover, this review found that improvement methodologies share some core barriers to successful implementation within public organisations. These barriers as well are common in the different geographic area. For instance lack of top management commitment and training that found in the education sector in Albanian are common barriers of improvement studies in Kuwait, Saudi Arabia, Spain, UK and US. Practical implications: Understanding these core issues and barriers will help managers of public organisations to improve their strategies with respect to continuous improvement. Thus, this review highlights the core issues that prevent a successful continuous improvement journey within the public sector. Value: Identifying and understanding the common obstacles to successfully implementing continuous improvement in the public sector will help public organisations to learn how to improve in launching and successfully sustaining such programmes. However, this is not the end; rather, it is just the beginning of a longer improvement journey. Thus, it is intended that this review will identify key learning opportunities for public sector organisations in developing nations which will then be tested via further research.

Keywords: continuous improvement, total quality management, obstacles, public sector

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3180 Insiders’ Perspectives of Countering Public Sector Corruption in Nigeria: Identifying and Targeting Its Nature, Characteristics and Fundamental Causes

Authors: Musa Bala Zakari, Mark Button

Abstract:

This paper explores the extent, nature, and characteristics of public sector corruption in Nigeria and the enhancement of the major anti-corruption initiatives (reforms), thereby providing insight into the types, forms and causes of corruption in Nigeria. This paper argues that attempts to devise and suggest effective anti-corruption reforms to control systemic corruption in Nigeria require identifying the most prevalent types of corruption targeted and tackling the fundamental country specific causes. It analyses two types of public sector corruption as it relates to Nigeria and the workings of its inefficient governance system. This paper concludes with the imperative of a collective action against corruption supported by considerable amount of domestic political will existing in a favourable policy context. In undertaking this, the paper draws upon publicly available documents, case laws review and semi-structured interviews conducted with various personnel working in the field of corruption in the dedicated anticorruption agencies, academics, and practitioners from other relevant institutions of accountability.

Keywords: corruption, development, good governance, public sector

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3179 Bankruptcy Prediction Analysis on Mining Sector Companies in Indonesia

Authors: Devina Aprilia Gunawan, Tasya Aspiranti, Inugrah Ratia Pratiwi

Abstract:

This research aims to classify the mining sector companies based on Altman’s Z-score model, and providing an analysis based on the Altman’s Z-score model’s financial ratios to provide a picture about the financial condition in mining sector companies in Indonesia and their viability in the future, and to find out the partial and simultaneous impact of each of the financial ratio variables in the Altman’s Z-score model, namely (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), toward the financial condition represented by the Z-score itself. Among 38 mining sector companies listed in Indonesia Stock Exchange (IDX), 28 companies are selected as research sample according to the purposive sampling criteria.The results of this research showed that during 3 years research period at 2010-2012, the amount of the companies that was predicted to be healthy in each year was less than half of the total sample companies and not even reach up to 50%. The multiple regression analysis result showed that all of the research hypotheses are accepted, which means that (WC/TA), (RE/TA), (EBIT/TA), (MVE/TL), and (S/TA), both partially and simultaneously had an impact towards company’s financial condition.

Keywords: Altman’s Z-score model, financial condition, mining companies, Indonesia

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3178 Supply Chain Management Strategies of the Private Residential Construction Sector in South Africa

Authors: R. Khoza, K. K. Govender

Abstract:

The aim of the study was to review and critically evaluate the supply chain management (SCM) strategies and challenges in the private residential construction sector in South Africa. The study was grounded in three theories, namely, theory of constraints, principal-agency theory, and stakeholder theory. A quantitative approach was used to survey 320 private residential construction companies which registered with the National Homebuilders Registration Council (NHBRC) within the Gauteng province. The data from 250 questionnaires returned were analysed using SPSS (Versions 23) and Smart PLS. It became evident that the SCM challenges included lack of trust between the supplier and the organization; lack of adoption of SCM system; lack of a sufficiently skilled SCM workforce; and poor implementation of contract management. The findings also indicate that there is a significant positive relationship between the performance of the private residential construction sector in South Africa and SCM challenges, SCM strategies and SCM processes. A framework is proposed comprising SCM practices and strategies of private residential construction sector in South Africa, which will enable them to enhance performance.

Keywords: management challenges, residential housing, South Africa, supply chain management

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3177 Risks in Forestry Operations, Analysis of Fatal Accidents

Authors: Rino Gubiani, Gianfranco Pergher

Abstract:

The work focused on the statistical analysis of accidents in the forestry sector (2000-2020) in Friuli-Venezia Giulia region, located in the North-East of Italy. The aim of the work was to analyse the evolution of the casualties throughout time and to evaluate possible improvements in the sector. It was shown that even nowadays the rate of accidents in forestry work is higher compared with all the other sectors, including agriculture; moreover, it was highlighted that some accidents remained present throughout the whole analysed range, such as slipping on the soil, being hit by trees and falling down from the plants. The results showed that an increase in forestry exploitation could even increase the total number of accidents, if advanced technological machines, such as cable cranes, would not implemented, given the fact that there is also a significant number of old people (above 50 years old) working in the sector.

Keywords: safety, forestry work, accidents, risk analysis, casualties, statistical analysis

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3176 What Nigeria Education Needs

Authors: Babatunde Joel Todowede

Abstract:

The challenges of nation building and sustainable development have continued to feature prominently in the general reckoning of problems of underdevelopment in the developing countries of the world. Thus, since the attainment of political independence from the British colonial administration in 1960, one of the critical thrusts of central governance in Nigeria has been the particular policy attention of the educational sector. Of course, education is perceived as the logical bridge between the two contrasting worlds of underdevelopment and development, hence, its fundamental importance. The various public policies and practices associated with the Nigerian educational sector are specifically elaborated and critically assessed in this paper. In the final analysis, it is concluded that the educational sector should be better configured and managed in ways that the wider challenges of nation-building and sustainable development are effectively tractable.

Keywords: Nigeria education, educational need, educational plans and policies, educational challenges, corrective measures, emerging economy

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3175 A Comparative Soft Computing Approach to Supplier Performance Prediction Using GEP and ANN Models: An Automotive Case Study

Authors: Seyed Esmail Seyedi Bariran, Khairul Salleh Mohamed Sahari

Abstract:

In multi-echelon supply chain networks, optimal supplier selection significantly depends on the accuracy of suppliers’ performance prediction. Different methods of multi criteria decision making such as ANN, GA, Fuzzy, AHP, etc have been previously used to predict the supplier performance but the “black-box” characteristic of these methods is yet a major concern to be resolved. Therefore, the primary objective in this paper is to implement an artificial intelligence-based gene expression programming (GEP) model to compare the prediction accuracy with that of ANN. A full factorial design with %95 confidence interval is initially applied to determine the appropriate set of criteria for supplier performance evaluation. A test-train approach is then utilized for the ANN and GEP exclusively. The training results are used to find the optimal network architecture and the testing data will determine the prediction accuracy of each method based on measures of root mean square error (RMSE) and correlation coefficient (R2). The results of a case study conducted in Supplying Automotive Parts Co. (SAPCO) with more than 100 local and foreign supply chain members revealed that, in comparison with ANN, gene expression programming has a significant preference in predicting supplier performance by referring to the respective RMSE and R-squared values. Moreover, using GEP, a mathematical function was also derived to solve the issue of ANN black-box structure in modeling the performance prediction.

Keywords: Supplier Performance Prediction, ANN, GEP, Automotive, SAPCO

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3174 The Persistence of Abnormal Return on Assets: An Exploratory Analysis of the Differences between Industries and Differences between Firms by Country and Sector

Authors: José Luis Gallizo, Pilar Gargallo, Ramon Saladrigues, Manuel Salvador

Abstract:

This study offers an exploratory statistical analysis of the persistence of annual profits across a sample of firms from different European Union (EU) countries. To this end, a hierarchical Bayesian dynamic model has been used which enables the annual behaviour of those profits to be broken down into a permanent structural and a transitory component, while also distinguishing between general effects affecting the industry as a whole to which each firm belongs and specific effects affecting each firm in particular. This breakdown enables the relative importance of those fundamental components to be more accurately evaluated by country and sector. Furthermore, Bayesian approach allows for testing different hypotheses about the homogeneity of the behaviour of the above components with respect to the sector and the country where the firm develops its activity. The data analysed come from a sample of 23,293 firms in EU countries selected from the AMADEUS data-base. The period analysed ran from 1999 to 2007 and 21 sectors were analysed, chosen in such a way that there was a sufficiently large number of firms in each country sector combination for the industry effects to be estimated accurately enough for meaningful comparisons to be made by sector and country. The analysis has been conducted by sector and by country from a Bayesian perspective, thus making the study more flexible and realistic since the estimates obtained do not depend on asymptotic results. In general terms, the study finds that, although the industry effects are significant, more important are the firm specific effects. That importance varies depending on the sector or the country in which the firm carries out its activity. The influence of firm effects accounts for around 81% of total variation and display a significantly lower degree of persistence, with adjustment speeds oscillating around 34%. However, this pattern is not homogeneous but depends on the sector and country analysed. Industry effects depends also on sector and country analysed have a more marginal importance, being significantly more persistent, with adjustment speeds oscillating around 7-8% with this degree of persistence being very similar for most of sectors and countries analysed.

Keywords: dynamic models, Bayesian inference, MCMC, abnormal returns, persistence of profits, return on assets

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3173 The Empirical Analysis and Comparisons Using TAIEX Derivatives

Authors: Pao-Peng Hsu, Ying-Hsiu Chen

Abstract:

Historical data shows that there were high correlations among TAIEX Futures, Electronic Sector Index Futures, Finance Sector Index Futures and Taiwan Top 50 ETF. The performance under various futures is also discussed. We found that the worst portfolio is consisted of T50-ETF and T50-ETF futures and best portfolio is consisted of T50-ETF and TF. It implies that the annual return of a portfolio increases if a portfolio’s risk diversifies.

Keywords: arbitrage opportunities, ETF, futures, TAIEX

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3172 Health Expenditure and its Place in Economy: The Case of Turkey

Authors: Ayşe Coban, Orhan Coban, Haldun Soydal, Sükrü Sürücü

Abstract:

While health is a source of prosperity for individuals, it is also one of the most important determinants of economic growth for a country. Health, by increasing the productivity of labor, contributes to economic growth. Therefore, countries should give the necessary emphasis to health services. The primary aim of this study is to analyze the changes occurring in health services in Turkey by examining the developments in the sector. In this scope, the second aim of the study is to reveal the place of health expenditures in the Turkish economy. As a result of the analysis in the dataset, in which the 1999-2013 periods is considered, it was determined that some increase in health expenditures took place and that the increase in the share of health expenditures in GDP was too small. Furthermore, analysis of the results points out that in financing health expenditures, the public sector is prominent compared to the private sector.

Keywords: health, health service, health expenditures, Turkey

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3171 Mobility and Effective Regulatory Policies in the 21st Century Transport Sector

Authors: Pedro Paulino

Abstract:

The majority of the world’s population is already living in urban areas and the urban population is expected to keep increasing in the next decades. This exponential increase in urban population carries with it obvious mobility problems. Not only a new paradigm in the transport sector is needed in order to address these problems; effective regulatory policies to ensure the quality of services, passenger rights, competition between operators and consistency of the entire mobile ecosystem are needed as well. The purpose of this paper is to present the problems the world faces in this sector and contribute to their solution. Indeed, our study concludes that only through the active supervision of the markets and the activity of monitoring the various operators will it be possible to develop a sustainable and efficient transport system which meets the needs of a changing world.

Keywords: mobility, regulation policies, sanctioning powers, sustainable transport

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3170 Engineering Management and Practice in Nigeria

Authors: Harold Jideofor

Abstract:

The application of Project Management (PM) tools and techniques in the public sector is gradually becoming an important issue in developing economies, especially in a country like Nigeria where projects of different size and structures are undertaken. The paper examined the application of the project management practice in the public sector in Nigeria. The PM lifecycles, tools, and techniques were presented. The study was carried out in Lagos because of its metropolitan nature and rapidly growing economy. Twenty-three copies of questionnaire were administered to 23 public institutions in Lagos to generate primary data. The descriptive analysis techniques using percentages and table presentations coupled with the coefficient of correlation were used for data analysis. The study revealed that application of PM tools and techniques is an essential management approach that tends to achieve specified objectives within specific time and budget limits through the optimum use of resources. Furthermore, the study noted that there is a lack of in-depth knowledge of PM tools and techniques in public sector institutions sampled, also a high cost of the application was also observed by the respondents. The study recommended among others that PM tools and techniques should be applied gradually especially in old government institutions where resistance to change is perceived to be high.

Keywords: project management, public sector, practice, Nigeria

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3169 Influence of European Funds on the Sector of Bovine Milk and Meat in Romania in the Period 2007-2013

Authors: Andrei-Marius Sandu

Abstract:

This study aims to analyze the bovine meat and milk sector for the period 2007-2013. For the period analyzed, it is known that Romania has benefited from EU funding through the National Rural Development Programme 2007-2013. In this programme, there were measures that addressed exclusively the animal husbandry sector in Romania. This paper presents data on bovine production of meat, milk and livestock in Romania, but also data on the price and impact the European Funds implementation had on them.

Keywords: European funds, measures, national rural development programme, price

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3168 On the Transition of Europe’s Power Sector: Economic Consequences of National Targets

Authors: Geoffrey J. Blanford, Christoph Weissbart

Abstract:

The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO2-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European, policy evaluation, power sector investment, technology choices

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3167 Precipitation and Age Hardening in Al-Mg-Si-(Cu) Alloys for Automotive Body Sheet

Authors: Tahar Abid, Haoues Ghouss, Abdelhamid Boubertakh

Abstract:

This present work is focused on the hardening precipitation in two AlMgSi(Cu) automotive body sheets. The effect of pre-aging, aging treatment and 0.10 wt % copper addition on the hardening response was investigated using scanning calorimetry (DSC), transmission electron microscopy (TEM), and Vickers microhardness measurements (Hv). The results reveal the apparition of α-AlFeSi, α-AlFe(Mn)Si type precipitates frequently present and witch remain stable at high temperature in Al-Mg-Si alloys. Indeed, the hardening response in both sheets is certainly due to the predominance of very fine typical phases β' and β'' as rods and needles developed during aging with and without pre-aging. The effect of pre ageing just after homogenization and quenching is to correct the undesirable effect of aging at ambient temperature by making faster alloy hardening during artificial aging.The addition of 0.10 wt % copper has allowed to refine and to enhance the precipitation hardening after quenching.

Keywords: AlMgSi alloys, precipitation, hardening, activation energy

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3166 Management Pattern for Service Sector in Samut Songkram by Sufficient Economy Approach

Authors: Krisada Sungkhamanee

Abstract:

The objectives of this research are to search the management pattern of one district lodging entrepreneurs by sufficient economy ways, to know the constrains that affects this sector and design fit arrangement shape to sustain their business with Samut Songkram style. What will happen if they do not use this approach? Will they have a monetary crisis? The data and information are collected by informal discussions with 8 managers and 400 questionnaires. A mixed methods of both qualitative research and quantitative research are used and Bent Flyvbjerg’s phronesis is utilized for this analysis. Our paper will prove that sufficient economy can help small business firms to solve their problems. We think that the results of our research will be a financial pattern to solve many problems of the entrepreneurs and this way will can be a super model for other provinces of Thailand.

Keywords: Samut Songkram, service sector, sufficient economy, management pattern

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3165 Electricity Sector's Status in Lebanon and Portfolio Optimization for the Future Electricity Generation Scenarios

Authors: Nour Wehbe

Abstract:

The Lebanese electricity sector is at the heart of a deep crisis. Electricity in Lebanon is supplied by Électricité du Liban (EdL) which has to suffer from technical and financial deficiencies for decades and proved to be insufficient and deficient as the demand still exceeds the supply. As a result, backup generation is widespread throughout Lebanon. The sector costs massive government resources and, on top of it, consumers pay massive additional amounts for satisfying their electrical needs. While the developed countries have been investing in renewable energy for the past two decades, the Lebanese government realizes the importance of adopting such energy sourcing strategies for the upgrade of the electricity sector in the country. The diversification of the national electricity generation mix has increased considerably in Lebanon's energy planning agenda, especially that a detailed review of the energy potential in Lebanon has revealed a great potential of solar and wind energy resources, a considerable potential of biomass resource, and an important hydraulic potential in Lebanon. This paper presents a review of the energy status of Lebanon, and illustrates a detailed review of the EDL structure with the existing problems and recommended solutions. In addition, scenarios reflecting implementation of policy projects are presented, and conclusions are drawn on the usefulness of a proposed evaluation methodology and the effectiveness of the adopted new energy policy for the electrical sector in Lebanon.

Keywords: EdL Electricite du Liban, portfolio optimization, electricity generation mix, mean-variance approach

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3164 The Role of Human Resource Capabilities and Knowledge Management on Employees’ Performance in the Nuclear Energy Sector of Nigeria

Authors: Hakeem Ade Omokayode Idowu

Abstract:

The extent of the role played by human capabilities developments as well as knowledge management on employees’ performance in the nuclear energy sector of Nigeria remains unclear. This is in view of the important role which human resource capabilities could play in the desire to generate energy using nuclear resources. This study appraised the extent of human resource capabilities available in the nuclear energy sector of Nigeria. It further examined the relationship between knowledge management and employees’ performance in the nuclear energy sector. The study adopted a descriptive research design with a population that comprised all the 1736 members of staff of the selected centres, institutes, and the headquarters of the Nigeria Atomic Energy Commission (NAEC), Nigerian Nuclear Regulatory Authority (NNRA), and Energy Commission of Nigeria (ECN) and a sample size of 332 employees was selected using purposive and convenience sampling techniques. Data collected were subjected to analysis using frequency counts and simple regression. The results showed that majority of the employees perceived that they have to a high extent of availability of knowledge (118, 35.5%), credibility (134, 40.4%), alignment (130, 39.2%), performance (126, 38%) and innovation (138, 41.6%) The result of the hypothesis tested indicated that knowledge management has a positive and significant effect on employees’ performance (Beta weight = 0.336, R2 =0.113, F-value = 41.959, p-value = 0.000< 0.05). The study concluded that human resource capabilities and knowledge management could enhance employee performance within the nuclear energy sector of Nigeria.

Keywords: human resource capabilities, knowledge management, employees productivity, national development

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