Search results for: firm attributes

Authors: Meiqun Yin, Jidong Zhang, Fan Liu

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The paper investigates the impact of social media on audit opinion. The numbers of posting and reposting negative reports from SINA Micro-blog are collected to measure the influence of social media. The research collected the samples from Chinese public firms from 2012 to 2014. It is found that the numbers of posting and reposting negative reports in SINA Micro-Blog would significantly relate to the qualified opinion while controlling firm size. Another finding is that the numbers of posting and reposting negative reports would be much more significantly impact on audit opinion if the firm received a qualified opinion in the previous period. It is also found that the involvement of more independent directors has no relationship with the influence of social media on audit opinion.

Keywords: association, social media, audit opinion, SINA Micro-Blog

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Authors: Leila M. Carvalho, Maria Erica S. Oliveira, Arnoud C. Neto, Elza I. Ida, Massami Shimokomaki, Marta S. Madruga

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The quality of broiler breast meat is changing as a result of the continuing emphasis on genetic selection for a more efficient meat production. Breast meat has been classified as PSE (pale, soft, exudative), DFD (dark, firm, dry) and normal color meat, and recently a third group has emerged: the so-called PFN (pale, firm, non-exudative) meat. This classification was based on pH, color and functional properties. The aim of this work was to confirm the existence of PFN and PSE meat by biochemical characterization and functional properties. Twenty four hours of refrigerated fillet, Pectoralis major, m. samples (n= 838) were taken from Cobb flocks 42-48 days old, obtained in Northeastern Brazil tropical region, the Northeastern, considered to have only dry and wet seasons. Color (L*), pH, water holding capacity (WHC), values were evaluated and compared with PSE group samples. These samples were classified as Normal (465.8), PSE meat (L*≥53; pH<5.8) and PFN (L*≥53; pH>5.8). The occurrence of control meat, PSE and PFN was 69.09%, 11.10% and 19.81%, respectively. Samples from PFN presented 4.0-5.0% higher WHC in relation to PSE meat and similar to control group. These results are explained by the fact that PSE meat syndrome occurs because of higher protein denaturation as the consequence of a simultaneous lower pH values under warm carcass sooner after slaughtering impairing the myofibril proteins functional properties. Conversely, PFN samples follow normal glycolysis rate maintaining the normal proteins activities. In conclusion, the results reported herein confirm the existence of this emerging broiler meat group with similar properties as control group and it should be considered as normal breast meat group.

Keywords: broiler breast meat, funcional properties, PFN, PSE

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Authors: Miguel A. Orellana, Sonia E. Ruiz, Juan Bojórquez

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Optimal load factors (dead, live and seismic) used for the design of buildings may be different, depending of the seismic ground motion characteristics to which they are subjected, which are closely related to the type of soil conditions where the structures are located. The influence of the type of soil on those load factors, is analyzed in the present study. A methodology that is useful for establishing optimal load factors that minimize the cost over the life cycle of the structure is employed; and as a restriction, it is established that the probability of structural failure must be less than or equal to a prescribed value. The life-cycle cost model used here includes different types of costs. The optimization methodology is applied to two groups of reinforced concrete buildings. One set (consisting on 4-, 7-, and 10-story buildings) is located on firm ground (with a dominant period Ts=0.5 s) and the other (consisting on 6-, 12-, and 16-story buildings) on soft soil (Ts=1.5 s) of Mexico City. Each group of buildings is designed using different combinations of load factors. The statistics of the maximums inter-story drifts (associated with the structural capacity) are found by means of incremental dynamic analyses. The buildings located on firm zone are analyzed under the action of 10 strong seismic records, and those on soft zone, under 13 strong ground motions. All the motions correspond to seismic subduction events with magnitudes M=6.9. Then, the structural damage and the expected total costs, corresponding to each group of buildings, are estimated. It is concluded that the optimal load factors combination is different for the design of buildings located on firm ground than that for buildings located on soft soil.

Keywords: life-cycle cost, optimal load factors, reinforced concrete buildings, total costs, type of soil

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Authors: Chiara De Amicis, Sonia Falconieri, Mesut Tastan

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In this study, we analyze the language employed by Chief Executive Officers (CEOs) and Chief Financial Officers (CFOs) during earnings conference calls from a gender perspective. We find evidences that conference calls held by female CEOs and/or CFOs exhibit a higher level of optimism compared to conference calls held by male CEOs and/or CFOs. Moreover, female managers tend to present and discuss firm performances with less vagueness as compared to their male colleagues. We then observe the market reaction around each earnings conference call: while manager optimism is perceived as a good signal by investors, manager vagueness significantly dampens the market reaction around the call. Whether the gender of the CEO and/or the CFO delivering the conference call affects investors’ perceptions about the firm performance is still an open question. Some evidences show that the language employed by female managers conveys more valuable information for market participants as compared to the language employed by their male counterparts. This study contributes to a growing literature in finance and accounting that uses textual analysis to assess the informativeness of corporate disclosure. To our knowledge, this is the first paper that aims at answering the question whether the gender of firm’s top managers does matter when it comes to assess the informativeness of corporate spoken communication. We believe that our results will be of relevance for future research in the field. Moreover, our evidence may be used in support of the debate if a larger participation by women in the management of companies should be encouraged or not.

Keywords: conference calls, even study, gender, market reaction, textual analysis

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Authors: Javier Sanchez Vidal, Ciarán Mac An Bhaird, Brian Lucey

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This study examines the decision by firm owners not to apply for intermediated debt due to a perception that their application will be rejected. Based on a sample of SMEs in 9 European countries over the period 2009-2011, we examine potential explanatory factors for borrower discouragement, including firm, macroeconomic, regulatory and banking industry variables. Compared with firms that applied for bank loans, discouraged borrowers are smaller, younger, have declining turnover and an increasing debt/assets ratio. Perceived willingness of banks to lend rather than the company’s own credit history is more important to encourage applications. Perceptions of refusal are procyclical and may be self-perpetuating. Increased concentration in the banking sector reduces discouragement, indicating the importance of relationship banking. Transmission of macro effects through the banking system and economic environment may also lead to higher levels of discouragement. A good regulatory scheme is also advisable, either for the lenders or the borrowers (overall the good ones).

Keywords: entrepreneurial finance, discouraged borrowers, banking, financial crisis, eurozone

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Authors: Sonia Pajaron, Flaviano Sentina, Ranulfo Etulle

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Learning a second language calls for a total commitment from the learner whose response is necessary to successfully send and receive linguistic messages. It is relevant to virtually every aspect of human behaviour which is even more challenging when the components on -affective domains- are involved in second language learning. This study investigated the association between the identified affective attributes and second language performance of the one hundred seventeen (117) randomly selected third year maritime students. A descriptive-correlational method was utilized to generate data on their affective attributes while composition writing (2 series) and IELTS-based interview was done for speaking test. Additionally, to establish the respondents’ English language profile, data on their high school grades (GPA), entrance exam results in English subject (written) as well as in the interview was extracted as baseline information. Data were subjected to various statistical treatment (average means, percentages and pearson-r moment coefficient correlation) and found out that, Nautical Science and Marine Engineering students were found to have average high school grade, entrance test results, both written and in the interview turned out to be very satisfactory at 50% passing percentage. Varied results were manifested in their affective attributes towards learning the second language. On attitude, nautical science students had true positive attitude while marine engineering had only a moderate positive one. Secondly, the former were positively motivated to learn English while the latter were just moderately motivated. As regards anxiety, both groups embodied a moderate level of anxiety in the English language. Finally, data showed that nautical science students exuded real confidence while the marine engineering group had only moderate confidence with the second language. Respondents’ English academic achievement (GWA) was significantly correlated with confidence and speaking with anxiety towards the second language among the students from the nautical science group with moderate positive and low negative degree of correlation, respectively. On the other hand, the marine engineering students’ speaking test result was significantly correlated with anxiety and self-confidence with a moderate negative and low positive degree of correlation, respectively while writing was significantly correlated with motivation bearing a low positive degree of correlation.

Keywords: affective attributes, second language, second language performance, anxiety, attitude, self-confidence and motivation

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Authors: Thomas Y. S. Lee

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An insurer offers cyber insurance coverage to several firms with risk-averse decision-makers. The cyber insurance premium offered depends on the cyber security implemented at the firm. Each firm faces attacks by multiple types of hackers and decides on the level of investment for cyber security countermeasures. We address the software monoculture issue by considering that there is common, popular software used by all firms, and it is a source of correlated risk. Two types of cyber security interdependence breaching processes due to the software monoculture risk were analyzed. We derive the probability distribution for the number of breaches and develop the cyber insurance pricing model. We also introduce the concept of cyber security defense level. Furthermore, we proposed to determine the optimal cyber insurance price given a targeted defense level. Finally, we demonstrate the use of our model through several numerical examples.

Keywords: cyber insurance, hacker, breaching probability, cyber security, correlated risks, software monoculture risk, defense level, integrated risk management.

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Authors: Rachel Y. Zhang, Christopher K. Anderson

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A critical aspect of revenue management is a firm’s ability to predict demand as a function of price. Historically hotels have used simple time series models (regression and/or pick-up based models) owing to the complexities of trying to build casual models of demands. Machine learning approaches are slowly attracting attention owing to their flexibility in modeling relationships. This study provides an overview of approaches to forecasting hospitality demand – focusing on the opportunities created by machine learning approaches, including K-Nearest-Neighbors, Support vector machine, Regression Tree, and Artificial Neural Network algorithms. The out-of-sample performances of above approaches to forecasting hotel demand are illustrated by using a proprietary sample of the market level (24 properties) transactional data for Las Vegas NV. Causal predictive models can be built and evaluated owing to the availability of market level (versus firm level) data. This research also compares and contrast model accuracy of firm-level models (i.e. predictive models for hotel A only using hotel A’s data) to models using market level data (prices, review scores, location, chain scale, etc… for all hotels within the market). The prospected models will be valuable for hotel revenue prediction given the basic characters of a hotel property or can be applied in performance evaluation for an existed hotel. The findings will unveil the features that play key roles in a hotel’s revenue performance, which would have considerable potential usefulness in both revenue prediction and evaluation.

Keywords: hotel revenue, k-nearest-neighbors, machine learning, neural network, prediction model, regression tree, support vector machine

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Authors: Waseem Shahzad, Ayesha Tahir Khan, Hamid Hussain Awan

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Ant-Miner algorithm that lies under ACO algorithms is used to extract knowledge from data in the form of rules. A variant of Ant-Miner algorithm named as cAnt-MinerPB is used to generate list of rules using pittsburgh approach in order to maintain the rule interaction among the rules that are generated. In this paper, we propose a parallel Ant MinerPB in which Ant colony optimization algorithm runs parallel. In this technique, a data set is divided vertically (i-e attributes) into different subsets. These subsets are created based on the correlation among attributes using Mutual Information (MI). It generates rules in a parallel manner and then merged to form a final list of rules. The results have shown that the proposed technique achieved higher accuracy when compared with original cAnt-MinerPB and also the execution time has also reduced.

Keywords: ant colony optimization, parallel Ant-MinerPB, vertical partitioning, classification rule discovery

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Authors: I. Slim, H. Akkari, A. Ben Abdallah, I. Bhouri, M. Hedi Bedoui

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Osteoporosis is a common disease characterized by low bone mass and deterioration of micro-architectural bone tissue, which provokes an increased risk of fracture. This work treats the texture characterization of trabecular bone radiographs. The aim was to analyze according to clinical research a group of 174 subjects: 87 osteoporotic patients (OP) with various bone fracture types and 87 control cases (CC). To characterize osteoporosis, Fractal and MultiFractal (MF) methods were applied to images for features (attributes) extraction. In order to improve the results, a new method of MF spectrum based on the q-stucture function calculation was proposed and a combination of Fractal and MF attributes was used. The Support Vector Machines (SVM) was applied as a classifier to distinguish between OP patients and CC subjects. The features fusion (fractal and MF) allowed a good discrimination between the two groups with an accuracy rate of 96.22%.

Keywords: fractal, micro-architecture analysis, multifractal, osteoporosis, SVM

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Authors: Mehrnoosh Askarizadeh

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Agile manufacturing concept was first coined by Iacocca institute in 1991 as a new manufacturing paradigm in order to provide and ensure competitiveness in the emerging global manufacturing order. Afterward, a considerable number of studies have been conducted in this area. Reviewing these studies reveals that they mostly focus on agile manufacturing drivers, definition and characteristics but few of them propose practical solutions to achieve it. Agile manufacturing is recommended as a successful paradigm after lean for the 21st manufacturing firms. This competitive concept has been developed in response to the continuously changes and uncertainties in today’s business environment. In order to become an agile competitor, a manufacturing firm should focus on enriching its agility capabilities. These agility capabilities can be categorized into seven groups: proactiveness, customer focus, responsiveness, quickness, flexibility, basic competence and partnership. A manufacturing firm which is aiming at achieving agility should first develop its own appropriate agility strategy. This strategy prioritizes required agility capabilities.

Keywords: agile manufacturing, product architecture, customer focus, responsiveness, quickness, flexibility, basic competence

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Authors: Yeliz Karaca, Rana Karabudak

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Multifractal Denoising techniques are used in the identification of significant attributes by removing the noise of the dataset. Magnetic resonance (MR) image technique is the most sensitive method so as to identify chronic disorders of the nervous system such as Multiple Sclerosis. MRI and Expanded Disability Status Scale (EDSS) data belonging to 120 individuals who have one of the subgroups of MS (Relapsing Remitting MS (RRMS), Secondary Progressive MS (SPMS), Primary Progressive MS (PPMS)) as well as 19 healthy individuals in the control group have been used in this study. The study is comprised of the following stages: (i) L2 Norm Multifractal Denoising technique, one of the multifractal technique, has been used with the application on the MS data (MRI and EDSS). In this way, the new dataset has been obtained. (ii) The new MS dataset obtained from the MS dataset and L2 Multifractal Denoising technique has been applied to the K-Means and Fuzzy C Means clustering algorithms which are among the unsupervised methods. Thus, the clustering performances have been compared. (iii) In the identification of significant attributes in the MS dataset through the Multifractal denoising (L2 Norm) technique using K-Means and FCM algorithms on the MS subgroups and control group of healthy individuals, excellent performance outcome has been yielded. According to the clustering results based on the MS subgroups obtained in the study, successful clustering results have been obtained in the K-Means and FCM algorithms by applying the L2 norm of multifractal denoising technique for the MS dataset. Clustering performance has been more successful with the MS Dataset (L2_Norm MS Data Set) K-Means and FCM in which significant attributes are obtained by applying L2 Norm Denoising technique.

Keywords: clinical decision support, clustering algorithms, multiple sclerosis, multifractal techniques

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Authors: Raymond Li

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In this project a web-based classroom response system (CRS) was used in the teaching an intermediate level economics course. This system allows the instructor to post a question on the screen and students to answer questions using their own electronic mobile devices. The questions and the results summarizing student responses can be shown to students simultaneously and the instructor can make timely feedback to students in class. CRS gives students a chance to respond to the instructor’s question privately, encouraging students who might not typically speak up in class to express their thoughts and opinions. There is a vast literature on the advantages and challenges of using CRS. However, empirical evidence on the student attributes that increase the effectiveness of CRS in improving student learning outcomes is sparse. The purpose of this project is to (1) find out if the use of CRS is beneficial to students taking economics, and (2) discover key student attributes that will likely make CRS more effective. Students’ performance in examinations and an end-of-semester questionnaire were used to assess the effectiveness of CRS in this project. Comparing the examination scores of the CRS treatment group and control group, the treatment group performed considerably better and statistically significant differences were found basing on paired t-tests on the differences. According to the questionnaire results, around 75% of the students in the treatment group generally agreed that CRS allowed them to express their views more freely. We also observed that students who prefer to use instant messaging rather than making conversations are generally more positive towards CRS. The use of CRS also benefits the instructor – students’ rating of the instructor in the teaching evaluation was significantly higher for the CRS treatment group.

Keywords: education technology, classroom response system, student attributes, economics education

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Authors: Jyh-Yi Shih, Chie-Bein Chen, Kuang-Yi Lin, Yu-Wei Huang

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Because of the trend toward globalization, Taiwanese companies have gradually focused more on overseas market operations. Overseas market performance has gradually increased as a proportion of Taiwanese companies’ total business revenues. Existing international investment theories cannot explain numerous new phenomena in this domain. Opinions are inconsistent, and contradictory positions exist regarding the antecedents of multinational enterprise (MNE) performance. This study applied contemporary internalization theory to establish and extend approaches adopted by previous relevant studies. In the context of the overseas market, the influence that MNE investment in research and development (R&D) and marketing has on enterprise performance was investigated from the firm-specific advantages (FSAs) and country-specific advantages (CSAs) perspectives. CSAs and internationalization speed were addressed as moderators, and hypotheses regarding how internationalization and performance were achieved through MNE overseas market operation were explored to ensure the completeness of the investigation. The list of enterprises was sourced from the Taiwan Economic Journal. After examining the relevant data, the following conclusions were obtained: (a) The relationship between the level of FSAs in R&D and enterprise performance exhibited an S-shaped curve. (b) The relationship between the level of FSAs in marketing and enterprise performance displayed a U-shaped curve. (c) The extent to which potential CFAs were obtained positively moderated the relationship between enterprise investment in R&D to gain FSAs and MNE performance. (d) Internationalization speed positively moderated the relationship between MNEs and enterprise investment in R&D and marketing to gain FSAs.

Keywords: multinational corporation, firm-specific advantages, country-specific advantages, international speed

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Authors: Farheen Akram

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Research and Development (R&D) is the most crucial element of the firm’s survival in a competitive business environment. R&D is a long-term investment; therefore, executives having the power to make the investment decisions may be pessimistic when their compensation is closely linked with short-term firm performance. Thus, the current study investigates the impact of board composition and executives’ compensation (cash or short-term benefits and LTIs) on R&D spending using a sample of 85 S&P/100 firms listed on the Australian Stock Exchange (ASX) in 2017. SmartPLS (v.3.2.7) was used to evaluate the proposed model of current research. The empirical findings of this study indicate that board composition has a significant and positive effect on R&D spending. While, as expected, executive cash compensation has negative and Long-Term-Incentives (LTIs) has a positive impact on R&D spending. Based on current findings, the study suggested that myopic behavior of CEOs and top management towards long-term value creation investment like R&D can be controlled by using long-term compensation rewards.

Keywords: cash compensation, LTIs, board composition, R&D spending

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Authors: Ananth Malali, Rohan Prasad, Ananth Revankar, Chiranth Hulgur

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This paper aims to show evidence that value creation by sustainable methods is achieved when a relation is shared with a sustainability attribute between two or more companies in every stage of the supply chain. The pillars of this paper, the value creation factors, attributes of sustainability and various relations that exist between firms in a horizontally integrated supply chain are defined. Further, a relational analysis was done using a simple analysis tool built based on research. Couple of case studies from the German manufacturing and Australian retail sectors were considered for the intra industry analysis and comparison. Taking the analysis ahead, for inter-industry comparison, the same cases were scrutinised in order to understand how the sustainability attributes change across each industry. Concluding, this paper gives an overview of how companies can plan their strategies to attain sustainability through horizontal integration.

Keywords: horizontal integration, value creation, sustainable supply chain

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Authors: Lee Li

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The strategic management literature posits that the major motive of strategic alliances is to share resources, costs and risks. However, the literature also indicates that such sharing leads to transaction costs which are positively correlated with environmental dynamism. As such, it is not clear why firms are willing to cover high transaction costs for sharing resources, costs and risks. This study categorizes resources into firm-specific and general resource; costs into accounting and non-accounting cost; and risks into visible and invisible risks. Using data from 167 Canadian firms in technology industries, we find that sharing firm-specific resources and non-accounting costs are negatively correlated with environmental dynamism but sharing general resources, accounting costs and visible risks are positively correlated with environmental dynamism. Findings suggest that sharing certain resources, costs and risks do not necessarily incur high transaction costs.

Keywords: environmental dynamism, strategic alliances, resource/cost/risk sharing

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Authors: Roengchai Tansuchat, Wassanai Wattanutchariya, Aree Wiboonpongse

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Parboiled rice is one of the most important food grains and classified in cereal and cereal product. In 2015, parboiled rice was traded more than 14.34 % of total rice trade. The major parboiled rice export countries are Thailand and India, while many countries in Africa and the Middle East such as Nigeria, South Africa, United Arab Emirates, and Saudi Arabia, are parboiled rice import countries. In the global rice market, parboiled rice pricing differs from white rice pricing because parboiled rice is semi-processing product, (soaking, steaming and drying) which affects to their color and texture. Therefore, parboiled rice export pricing does not depend only on the trade volume, length of grain, and percentage of broken rice or purity but also depend on their rice seed attributes such as color, whiteness, consistency of color and whiteness, and their texture. In addition, the parboiled rice price may depend on the country of origin, and other attributes, such as certification mark, label, packaging, and sales locations. The objectives of this paper are to study the attributes of parboiled rice sold in different countries and to evaluate the relationship between parboiled rice price in different countries and their attributes by using hedonic pricing model. These results are useful for product development, and marketing strategies development. The 141 samples of parboiled rice were collected from 5 major parboiled rice consumption countries, namely Nigeria, South Africa, Saudi Arabia, United Arab Emirates and Spain. The physicochemical properties and optical properties, namely size and shape of seed, colour (L*, a*, and b*), parboiled rice texture (hardness, adhesiveness, cohesiveness, springiness, gumminess, and chewiness), nutrition (moisture, protein, carbohydrate, fat, and ash), amylose, package, country of origin, label are considered as explanatory variables. The results from parboiled rice analysis revealed that most of samples are classified as long grain and slender. The highest average whiteness value is the parboiled rice sold in South Africa. The amylose value analysis shows that most of parboiled rice is non-glutinous rice, classified in intermediate amylose content range, and the maximum value was found in United Arab Emirates. The hedonic pricing model showed that size and shape are the key factors to determine parboiled rice price statistically significant. In parts of colour, brightness value (L*) and red-green value (a*) are statistically significant, but the yellow-blue value (b*) is insignificant. In addition, the texture attributes that significantly affect to the parboiled rice price are hardness, adhesiveness, cohesiveness, and gumminess. The findings could help both parboiled rice miller, exporter and retailers formulate better production and marketing strategies by focusing on these attributes.

Keywords: hedonic pricing model, optical properties, parboiled rice, physicochemical properties

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Authors: Natalia Feruleva

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The goal of this paper is to develop the fraud risk assessment model basing on both relational and financial data and test the impact of the relationships between Russian non-public companies on the likelihood of financial fraud commitment. Relationships mean various linkages between companies such as parent-subsidiary relationship and person-related relationships. These linkages may provide additional opportunities for committing fraud. Person-related relationships appear when firms share a director, or the director owns another firm. The number of companies belongs to CEO and managed by CEO, the number of subsidiaries was calculated to measure the relationships. Moreover, the dummy variable describing the existence of parent company was also included in model. Control variables such as financial leverage and return on assets were also implemented because they describe the motivating factors of fraud. To check the hypotheses about the influence of the chosen parameters on the likelihood of financial fraud, information about person-related relationships between companies, existence of parent company and subsidiaries, profitability and the level of debt was collected. The resulting sample consists of 160 Russian non-public firms. The sample includes 80 fraudsters and 80 non-fraudsters operating in 2006-2017. The dependent variable is dichotomous, and it takes the value 1 if the firm is engaged in financial crime, otherwise 0. Employing probit model, it was revealed that the number of companies which belong to CEO of the firm or managed by CEO has significant impact on the likelihood of financial fraud. The results obtained indicate that the more companies are affiliated with the CEO, the higher the likelihood that the company will be involved in financial crime. The forecast accuracy of the model is about is 80%. Thus, the model basing on both relational and financial data gives high level of forecast accuracy.

Keywords: financial fraud, fraud prediction, non-public companies, regression analysis, relational data

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Authors: Seyedmohammad Mousavian, Hanlu Fan, Quingliang Tang

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Climate change is emerging as a severe threat to our society, so businesses are expected to take actions to mitigate carbon emissions. However, the actions to be taken depend on managers’ perceptions of climate change risks. Yet, there is scant research on this issue, and understanding of the determinants of corporate perceptions of climate change is extremely limited. The purpose of this study is to close this gap by examining the relationship between perceptions of climate risk and firm-level and country-level factors. In this study, climate change risk captures physical, regulatory, and other risks, and we use data from European companies that participated in CDP from 2010 to 2017. This study reveals those perceptions of climate change risk are significantly positively associated with the environmental, social, and governance score, firm size, and membership in a carbon-intensive sector. In addition, we find that managers in firms operating in a geographic area that is sensitive to the consequences of global warming are more likely to perceive and formally recognize carbon-related risks in their CDP reports.

Keywords: carbon actions, CDP, climate change risk, risk perception

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Authors: Siti Anis Nadia Abu Bakar, Vani Tanggamani

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Over recent years, the quality and environmental management practices are the necessary tasks in hospitality industry in order to provide high quality services, a comfortable and safe environment for occupants as well as innovative nature and shareholders' satisfaction, its environmental and social added value sustainable. Numerous studies have observed and measured quality management program (QMProg) and environmental management practices (EMPrac) independently. This paper analyzed the level of QMProg, and EMPrac in hospitality industry, particularly on hotel performance, specifically in the context of Malaysia as hotel industry in Malaysia has contributed tremendously to the development in the Malaysia tourism industry.The research objectives are; (1) to analyze how the level of QMProg influences on firm performance; (2) to investigate the level of EMPrac and its influence on firm performance. This paper contributes to the literature by providing added-value to the service industry strategic decision-making processes by helping to predict the varying impacts of positive and negative corporate social responsibility (CSR) activities on financial performance in their respective industries. Further, this paper also contributes to develop more applicable CSR strategies. As a matter of fact, the findings of this paper has contributed towards an integrated management system that will assist a firm in implementation of their environmental strategy by creating a higher level of accountability for environmental performance. The best results in environmental systems have instigated managers to explore more options when dealing with problems, especially problems involving the reputation of their hotel. In conclusion, the results of the study infer that the best CSR strategies of the quality and environmental management practices influences hotel performance.

Keywords: corporate social responsibility (CSR), environmental management practices (EMPrac), performance (PERF), quality management program (QMProg)

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Authors: Norhaslina Hassan, Sherina Rezvanipour, Amirhosein Ghaffarian Hoseini, Ng Siew Cheok

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The walkability features of urban streets are prominent factors that are often focused on achieving a pedestrian-friendly environment. The limited attention that walkability enhancements devote to pedestrians' experiences or perceptions, on the other hand, raises the question of whether walkability enhancement is sufficient for pedestrians to enjoy using the streets. Thus, this paper evaluates the relationship between the socio-physical components of urban streets and pedestrians’ perceptions. A total of 1152 pedestrians from five urban streets in two major Malaysian cities, Kuala Lumpur, and George Town, Penang, participated in this study. In particular, this study used pedestrian preference scores towards socio-physical attributes that exist in urban streets to assess their impact on pedestrians’ appraisals of street likeability, comfort, and safety. Through analysis, the principal component analysis extracted eight socio-physical components, which were then tested via an ordinal regression model to identify their impact on pedestrian street likeability, comfort (visual, auditory, haptic and olfactory), and safety (physical safety, environmental safety, and security). Furthermore, a non-parametric Kruskal Wallis test was used to identify whether the results were subjected to any socio-demographic differences. The results found that all eight components had some degree of effect on the appraisals. It was also revealed that pedestrians’ preferences towards the attributes as well as their appraisals significantly varied based on their age, gender, ethnicity and education. These results and their implications for urban planning are further discussed in this paper.

Keywords: pedestrian appraisal, pedestrian perception, street sociophysical attributes, walking experience

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Authors: Gang Liu, Huimin Song, Can Wang, Runnan Zhang, Lu Fang

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Currently, resource sharing and system security are critical issues. This paper proposes a POL module composed of PRIV ILEGE attribute (PA), obligation and log which improves attribute based access control (ABAC) model in dynamically granting authorizations and revoking authorizations. The following describes the new model termed PABAC in terms of the POL module structure, attribute definitions, policy formulation and authorization architecture, which demonstrate the advantages of it. The POL module addresses the problems which are not predicted before and not described by access control policy. It can be one of the subject attributes or resource attributes according to the practical application, which enhances the flexibility of the model compared with ABAC. A scenario that illustrates how this model is applied to the real world is provided.

Keywords: access control, attribute based access control, granting authorizations, privilege, revoking authorizations, system security

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Authors: Aymen Gammoudi, Hamza Labbaci, Nizar Messai, Yacine Sam

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Web Service Composition (Mash-up) has been considered as a new approach used to offer the user a set of Web Services responding to his request. These approaches can return a set of similar Mash-ups in a given context that makes users unable to select the perfect one. Recent approaches focus on computing the skyline over a set of Quality of Service (QoS) attributes. However, these approaches are not sufficient in a dynamic web service environment where the delivered QoS by a Web service is inherently uncertain. In this paper, we treat the problem of computing the skyline over a set of similar Mash-ups under certain dimension values. We generate dimensions for each Mash-up using aggregation operations applied to the QoS attributes. We then tackle the problem of computing the skyline under uncertain dimensions. We present each dimension value of mash-up using a frame of discernment and introduce the d-dominance using the Evidence Theory. Finally, we propose our experimental results that show both the effectiveness of the introduced skyline extensions and the efficiency of the proposed approaches.

Keywords: web services, uncertain QoS, mash-ups, uncertain dimensions, skyline, evidence theory, d-dominance

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Authors: Joanna Konstantinou

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The study is about the challenges faced by entrepreneurs in a crisis context and in turbulent economies. The scope is to determine which factors, if any, are related to the success of a new business venture, such as innovation, access to funding and capital, enhanced digital skills, employment relations and organizational culture as well as a company’s strategic orientation towards international markets. The crisis context has been recorded to have affected the number of SMEs in the Greek economy, the number of people employed as well as the volume of the output produced. Although not all SMEs have been equally impacted by the crisis, which has been identified to affect certain sectors more than others, and although research is not exhaustive in that end, employment relations and patterns, firm’s age, and innovation practices in relation to employees’ learning curve seem to have a positive correlation with the successful survival and resilience of the firm. The aim is to identify important factors that can contribute positively to the success of a startup business, and that will allow businesses to acquire resilience and survive economic adversities, and it will focus on businesses of the Greek economy, the country with the longer lasting economic crisis and the findings will be lessons to learn for other economies.

Keywords: entrepreneurship, innovation, crisis, challenges

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Authors: Anusha De, Bjorn Van Campenhout

Abstract:

Faced with imperfect information, economic actors use judgment and perceptions in decision-making. Inaccurate perceptions or false beliefs may result in inefficient value chains, and systematic bias in perceptions may affect inclusiveness. In this paper, perceptions in Ugandan maize supply chains are studied. A random sample of maize farmers where they were asked to rate other value chain actors—agro-input dealers, assembly traders and maize millers—on a set of important attributes such as service quality, price competitiveness, ease of access, and overall reputation. These other value chain actors are tracked and asked to assess themselves on the same attributes. It is observed that input dealers, traders and millers assess themselves more favorably than farmers do. Zooming in on heterogeneity in perceptions related to gender, it is evident that women rate higher than men. The sex of the actor being rated does not affect the rating.

Keywords: gender, input dealers, maize supply chain, perceptions, processors

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Authors: Salim Ahmad, Ahamed Sani Kazaure, Haruna Musa

Abstract:

Outsourcing had been the contractual relationship in which the responsibility for a function or task is handed over to an outside firm for a fixed period of time which is not the same as contracting where a specific one-off task is allocated to an external business; therefore in information technology a specialist area such as maintenance of web servers is controlled by an outside firm or if the department is not a critical factor the whole IT section may be outsourced. Organisation contracts is frequently a major area in successful outsourcing relationship, whereby the contracts specify the right, liability and expectation of the vendor and contracts are mostly of high value and last for very long. Therefore, in this research one particular project that is been outsourced for the financial industry (Guarantee Trust Assurance PlC) is been discussed along with the approach used and the various problems encountered, though Outsourcing is not necessarily a perfect and easy way out for business. It is extremely critical for a company to look at all the aspect of outsourcing before deciding to use it as an instrument for development. Moreover, critical analysis of the management issues encountered while implementing the outsourcing project have been fully discussed in the paper.

Keywords: outsourcing, techniques used in outsourcing, challenges of outsourcing implementation, management issues during implementation of outsourcing project

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Authors: Ben Kwame Agyei-Mensah

Abstract:

This study investigated the influence of firm-specific characteristics which include proportion of Non-Executive Directors, ownership concentration, firm size, profitability, debt equity ratio, liquidity and leverage on the extent and quality of financial ratios disclosed by firms listed on the Ghana Stock Exchange. The research was conducted through detailed analysis of the 2012 financial statements of the listed firms. Descriptive analysis was performed to provide the background statistics of the variables examined. This was followed by regression analysis which forms the main data analysis. The results of the extent of financial ratio disclosure level, mean of 62.78%, indicate that most of the firms listed on the Ghana Stock Exchange did not overwhelmingly disclose such ratios in their annual reports. The results of the low quality of financial ratio disclosure mean of 6.64% indicate that the disclosures failed woefully to meet the International Accounting Standards Board's qualitative characteristics of relevance, reliability, comparability and understandability. The results of the multiple regression analysis show that leverage (gearing ratio) and return on investment (dividend per share) are associated on a statistically significant level as far as the extent of financial ratio disclosure is concerned. Board ownership concentration and proportion of (independent) non-executive directors, on the other hand were found to be statistically associated with the quality of financial ratio disclosed. There is a significant negative relationship between ownership concentration and the quality of financial ratio disclosure. This means that under a higher level of ownership concentration less quality financial ratios are disclosed. The findings also show that there is a significant positive relationship between board composition (proportion of non-executive directors) and the quality of financial ratio disclosure.

Keywords: voluntary disclosure, firm-specific characteristics, financial reporting, financial ratio disclosure, Ghana stock exchange

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Authors: Henriette Scholtz

Abstract:

Excessive executive directors’ remuneration remains a major concern for many stakeholders and are some of the factors to blame for the recent global financial crisis. The objective of this study was to examine whether certain firm characteristics are an effective way of protecting shareholders’ interests with respect to executive directors’ remuneration. To achieve this, an ordinary least squares model was used to test the relationship between the remuneration of executive directors and a number of firm and corporate governance characteristics to determine whether these characteristics have an influence on executive directors’ remuneration of large listed companies in South Africa. It was found that corporate governance reforms relating to institutional ownership, shareholder voting on the remuneration policy and the number of remuneration committee meetings acts as an effective governance tool to protect shareholder’s interests with regard to executive remuneration. There is no evidence that the number of non-executive directors on the remuneration committee has an influence on the executive directors’ remuneration.

Keywords: executive directors’ remuneration, agency theory, corporate governance, remuneration committee, directors’ shareholding, institutional ownership

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Authors: Sewe Silvanus Odhiambo

Abstract:

Globally, many governments have publicly recognized private security firms as essential services providers. The private security firms face a lot of challenges, but the COVID-19 situation also has exacerbated them to another level. This paper locates its relevance in the post-coronavirus era. The COVID-19 pandemic has redefined the world operation, which shows a higher impact on the security field. Accordingly, the purpose of the study was to examine the role of corporate governance on the performance of private security firms in a post-covid pandemic era in Kenya. The study employed a descriptive research design, which included a quantitative approach and secondary data. The study was carried in the month of July 2021 from the registered private security firms. After targeting all private security firms, only 54 firms had disclosed their annual report by the time of conducting the study. The results depicted that pandemic has affected the performance of private security firms measures unfavorably. Further, boards of directors show a positive association with security firm performance. The study recommends that there is need board of directors to enhance management’s risk assessments in the midst of COVID-19; ensure that there are business continuity plans; there is organizational resilience; there is need for the development of new digital strategies; enabling the digital workforce in the firms and have effective communication plans with both internal and external stakeholders to deal with uncertainties and develop more post-COVID practices for boards of directors to improve performance of private security firms in Kenya. The practical implications of the study are that the research outcomes might assist regulatory bodies, investors, policymakers, and the security sector in general in their formulation of public and corporate governance strategies concerning future emergency preparedness and responses. This study also provides a unique contribution to the literature of COVID-19 and security firm performance in emerging economies context.

Keywords: COVID-19, corporate governance, firm performance, private security firms

Procedia PDF Downloads 133