Search results for: initial public offerings

Authors: Domagoj Hruska, Drazen Milkovic, Maja Darabos

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This paper empirically investigates the performance of Croatian initial public offerings (IPOs) throughout 20 years period, from 1996 until 2016. By proving the comprehensive evaluation of reasons and consequences of IPO initiatives in Croatia we give analytic evidence on the influence of this corporate action on the development of corporate governance. Furthermore, the paper discusses the relationship between internal and external corporate governance mechanisms in companies that initialize entering the financial markets. The paper will provide a synthesis of evidence of IPO-s in Croatia based on in-depth case studies of 13 cases of IPO-s. The major findings of the paper include identification of reasons for conducting IPO-s and calculation of underpricing effect and change of market capitalization. To the best of the author's knowledge, the results of the paper provide the analytical framework for understanding the impact of IPOs on the corporate governance system in transition countries.

Keywords: corporate governance, Croatia, initial public offering, transition economy

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Authors: Wonder Ngezimana, Benjamin Alex Madzivire

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As new public universities are being applauded for being promulgated in Zimbabwe, there is need for comprehensive plan for ensuring sustainable competitive advantages in their niche mandated areas. Unhealthy competition between university faculties for enrolment hinders growth of the newly established universities faculties, especially in the agricultural sciences related disciplines. Blue ocean metaphor is based on creation of competitor-free market unlike 'red oceans', which are well explored and crowded with competitors. This study seeks to explore the potential contribution of blue oceans strategy (BOS) for growth of universities with bias towards faculties of agriculture in public universities in Zimbabwe. Case studies with agricultural sciences related disciplines were selected across three universities for interviewing. Data was collected through 10 open ended questions on academics in different management positions within university faculties of agriculture. Summative analysis was thereafter used during coding and interpretation of the data. Study findings show that there are several important elements for making offerings more comprehendible towards fostering faculty growth and performance with bias towards student enrolment. The results points towards BOS form of value innovations with various elements to consider in faculty offerings. To create valued innovation beyond the red oceans, the cases in this study have to be modelled to foster changes in enrolment, modes of delivery, certification, being research oriented with excellence in teaching, ethics, service to the community and entrepreneurship. There is, therefore, need to rethink strategy towards reshaping inclusive enrolment, industry relevance, affiliations, lifelong learning, sustainable student welfare, ubuntu, exchange programmes, research excellence, alumni support and entrepreneurship. Innovative strategic collaborations and partnerships, anchored on technology boost the strategic offerings henceforth leveraging on various offerings in this study. Areas of further study include the amplitude of blue oceans shown in the university faculty offerings and implementation strategies of BOS.

Keywords: blue oceans strategy, collaborations, faculty offerings, value innovations

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Authors: Nithi Sermsiriviboon, Somchai Supattarakul

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Dividend initiations are an economically significant event that has important implications for a firm’s future financial capacity. Given that the market’s expectation of a consistent payout, managers of IPO firms must approach the initial dividend decision cautiously. We compare the long run performance of IPO firms that initiated dividends with those of similarly matched non-payers. We found that firms which initiated dividends perform significantly better up to three years after the initiation date. Moreover, we measure investor reactions by 2-day around dividend announcement date cumulative abnormal return. We evidence no statistically significant differences between cumulative abnormal returns (CAR) of IPO firms and cumulative abnormal returns of Non-IPO firms, indicating that investors do not respond to dividend announcement of IPO firms more than they do to the dividend announcement of Non-IPO firms.

Keywords: dividend, initial public offerings, long-run performance, finance

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Authors: Saqib Mehmood, Naveed Iqbal Chaudhry, Asif Mehmood

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This study intends to investigate the information asymmetry theories of IPO and under-pricing in Pakistan. The purpose of the study is to validate the information asymmetry about firm value which leads to under-pricing. A total of 55 IPOs listed from 2000-2011 were included in this study. OLS multiple regression was applied to achieve the objectives of this study. The findings of the study confirm the significance of information asymmetry on under-pricing in Pakistan. The findings have implications for issuing firms and prospective investors.

Keywords: information asymmetry, initial public offerings, under-pricing, firm value

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Authors: María-José Palacin-Sanchez, Filippo Di Pietro, Reyes Samaniego-Medina

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This article examines, in an institutional context such as Spanish one, the corporate board structure characteristics and determinants in entrepreneurial firms to go public. Specifically, it explores these issues through all the initial public offerings in the Spanish Alternative Equity Market (MAB), which is a market segment for smaller growing companies. The results show that: a) firm size, age of the company, and the reputation of the auditor and the nominated advisor and Corporate Governance Code favour a larger and more independent board structure that enhances its monitoring functions; and b) leverage, opportunities of growth, sector risk and ownership by executive directors all lead towards a smaller broad of directors where the role of entrepreneurship provided by executive directors remains crucial. This reflects the delicate balance of power between small-business entrepreneurs and financial equity market forces, which demand more transparency and monitoring in the companies.

Keywords: board composition, board size, corporate governance, IPO, SMEs

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Authors: Matteo Bonaventura, Giancarlo Giudici

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This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000-2009 at their Initial Public Offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the Discounted Cash Flow (DCF) method. We develop a ‘reverse engineering’ model to discover the short term profitability implied in the offer prices. We show that there is a significant optimistic bias in the estimation of future profitability compared to ex-post actual realization and the mean forecast error is substantially large. Yet we show that such error characterizes also the estimations carried out by analysts evaluating non-IPO companies. The forecast error is larger the faster has been the recent growth of the company, the higher is the leverage of the IPO firm, the more companies issued equity on the market. IPO companies generally exhibit better operating performance before the listing, with respect to comparable listed companies, while after the flotation they do not perform significantly different in term of return on invested capital. Pre-IPO book building activity plays a significant role in partially reducing the forecast error and revising expectations, while the market price of the first day of trading does not contain information for further reducing forecast errors.

Keywords: initial public offerings, DCF, book building, post-IPO profitability drop

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Authors: Kalsoom Sumra

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The increasing concern of public sector reforms brings new challenges to public service ethics in developing countries not only at central level but also at local level. This paper aims to identify perceptions on public service ethics of public officials and examines more generally the understanding of public servants in Pakistan towards public service ethics in local public organizations. The study uses an independently administered structured questionnaire to collect data to know the extent of the recognition of public service ethics in local organizations. A total of 150 completed questionnaires are analyzed received from public servants working at the local level in Pakistan. The analysis explores how traditional, social patterns and cultural ethics can provide us with a rounded picture of the main antecedents, moderators of public service ethics in Pakistan. Moreover, the findings of this study contribute in association of public service ethics which are crucial in ongoing political and administrative culture of Pakistan, the most crucial core for public organizational ethical climate. This study also has numerous implications for local public administration and it highlights the importance of expanding research agenda on public service ethics in developing settings with challenging institutional contexts with imperfect training and operating environments. This study may well be particularly important for practice of public service ethics in developing countries in public administration. To the best of author’s knowledge, this study is the first of its kind to provide an initial step in practical implications to emphasize relevant public service ethics in public administration in developing transparent and accountable organization.

Keywords: public service ethics, accountability and transparency, public service reforms, public administration, organizational ethical climate

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Authors: Masanori Kimura

Abstract:

Due to the decline of the 18-year-old population, Japanese universities have a tendency to convert their form of employment from tenured positions to fixed-term positions for newly hired teachers. The advantage of this is that universities can be more flexible in their employment plans in case they fail to fill the enrollment of quotas of prospective students or they need to supplement teachers who can engage in other academic fields or research areas where new demand is expected. The most serious disadvantage of this, however, is that if secure positions cannot be provided to faculty members, there is the possibility that coherence of education and continuity of research supported by the university cannot be achieved. Therefore, the question of this presentation is as follows: Are universities aiming to give first priority to management, or are they trying to prioritize educational and research rather than management? To answer this question, the author examined the number of job offerings for college foreign language teachers posted on the JREC-IN (Japan Research Career Information Network, which is run by Japan Science and Technology Agency) website from April 2012 to October 2015. The results show that there were 1,002 and 1,056 job offerings for tenured positions and fixed-term contracts respectively, suggesting that, overall, today’s Japanese universities show a tendency to give first priority to management. More detailed examinations of the data, however, show that the tendency slightly varies depending on the types of universities. National universities which are supported by the central government and state universities which are supported by local governments posted more job offerings for tenured positions than for fixed-term contracts: national universities posted 285 and 257 job offerings for tenured positions and fixed-term contracts respectively, and state universities posted 106 and 86 job offerings for tenured positions and fixed-term contracts respectively. Yet the difference in number between the two types of employment status at national and state universities is marginal. As for private universities, they posted 713 job offerings for fixed-term contracts and 616 offerings for tenured positions. Moreover, 73% of the fixed-term contracts were offered for low rank positions including associate professors, lectures, and so forth. Generally speaking, those positions are offered to younger teachers. Therefore, this result indicates that private universities attempt to cut their budgets yet expect the same educational effect by hiring younger teachers. Although the results have shown that there are some differences in personal strategies among the three types of universities, the author argues that all three types of universities may lose important human resources that will take a pivotal role at their universities in the future unless they urgently review their employment strategies.

Keywords: higher education, management, employment status, foreign language education

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Authors: Ayman Aboelkassem, Mahmoud Ali

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Introduction: The models of soul houses have appeared in the prehistory, old kingdom and middle kingdom period. These soul houses represented the imagination of the deceased about his house in the afterlife, some of these soul houses were two floors and the study will examine five models of soul houses which were discovered near Saqqara site by an Egyptian mission. These models had been transferred to The Grand Egyptian Museum (GEM) to be ready to display at the new museum. We focus on models of soul houses (GEM Numbers, 1276, 1280, 1281, 1282, 8711) these models of soul houses were related to the old kingdom period. These models were all made of pottery, the five models have an oval shape and were decorated with relief. Methodology: The study will focus on the development of soul houses during the different periods in ancient Egypt, the function of soul houses, the kind of offerings which were put in it and the symbolism of the offerings colors in ancient Egyptian believe. Conclusion: This study is useful for the heritage and ancient civilizations especially when we talk about opening new museums like The Grand Egyptian Museum which will display a new collection of soul houses. The study of soul houses and The kinds of offerings which put in it reflect the economic situation in the Egyptian society and kinds of oils which were famous in ancient Egypt.

Keywords: archaeology study, Grand Egyptian Museum, relief, soul houses

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Authors: Abdelkader Guendouz, Fatima Zohra Adel

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Since about two decades, the Algerian government created a new instrument in the field of its fiscal policy, which is the FRR (Fonds de Régulation des Recettes). The FRR is a sovereign fund, which the initial role was saving the surplus generated by the fixation of a referential oil price to establish the state budget in the aim equilibrium between budgetary incomes and public expenditures. After a while, the government turns to use this instrument in boosting the public investment more than keeping for funding a deficit budget in periods of crisis. This lead to ask some justified questions about the efficiency of this sovereign fund and its real role.

Keywords: FRR sovereign fund, public expenditures, public investment, efficiency

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Authors: Ajeni Ari, Chiara Maria Leva, Lorraine D’Arcy, Mary Kinahan

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In addressing gender and transport, considerations of mobility disparities amongst users are important. Public transport (PT) policy and design do not efficiently account for the varied mobility practices between men and women, with literature only recently showing a movement towards gender inclusion in transport. Arrantly, transport policy and designs remain gender-blind to the variation of mobility needs. The global movement towards sustainability highlights the need for expeditious strategies that could mitigate biases within the existing system. At the forefront of such a plan of action, in part, may be mandated inclusive infrastructural designs that stimulate user engagement with the transport system. Fundamentally access requires a means or an opportunity for the entity, which for PT is an establishment of its physical environment and/or infrastructural design. Its practicality may be utilised with knowledge of shortcomings in tangible or intangible aspects of the service offerings allowing access to opportunities. To inform on existing biases in PT planning and design, this study analyses qualitative data to examine the opinions and lived experiences among transport users in Ireland. Findings show that infrastructural design plays a significant role in users’ engagement with the service. Paramount to accessibility are service provisions that cater to both user interactions and those of their dependents. Apprehension to use the service is more so evident in women in comparison to men, particularly while carrying out household duties and caring responsibilities at peak times or dark hours. Furthermore, limitations are apparent with infrastructural service offerings that do not accommodate the physical (dis)ability of users, especially universal design. There are intersecting factors that impinge on accessibility, e.g., safety and security, yet essentially; the infrastructural design is an important influencing parameter to user perceptual conditioning. Additionally, data discloses the need for user intricacies to be factored in transport planning geared towards gender inclusivity, including mobility practices, travel purpose, transit time or location, and system integration.

Keywords: infrastructure design, public transport, accessibility, women, gender

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Authors: Najam U. Saqib

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Self-construal or an individual’s view of him or herself is an important variable by which culture affects the way people think and act. This notion of self-construal is identified with two distinct perspectives on the self. Within the independent construal, the self is seen as different from others, a way of defining the self, prominent in Western societies. The interdependent perspective which is typical for Eastern cultures emphasizes the connectedness of the self to others. The degree of independence-interdependence in one’s self-construal is thought to affect behavior, acceptance of social values, and decision making. This paper manipulates self-construal of Qatari consumers and investigates its effects on accepting incongruent changes in culture as a result of adopting market offerings and behavior that may be perceived as inconsistent with their self-construal. The research recommends strategies for policy makers in Qatar for successful advocacy of initiatives of national importance such as reducing diabetes and obesity by applying self-construal theory.

Keywords: cross-cultural, consumer behavior, self-construal, GCC (Gulf Cooperation Council)

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Authors: Jelena Zivkovic, Haidar Mohammed, Elaf Saeed

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Student affairs services play a critical role in contributing to the wholistic development and success of students as they progress through their academic careers. The study encompasses a multifaceted examination of student affairs service offerings amongst 10 private and 3 public Baghdad universities. Student affairs administrators (13) were surveyed along with over 300 students to determine university-sponsored services and student satisfaction and awareness. The student affairs service research findings varied significantly between private and public institutions and those that followed a national and international curriculum. Universities need to persist to adapt to changing demographics and technological advancements to enhance students' personal and academic successes, and student affairs services are key to preparing graduates to thrive in a diverse global world.

Keywords: student affairs, student success, higher education, Iraq, universities, Baghdad

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Authors: Mehrnoosh Askarizadeh

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The foundation of all marketing is composed by relations. Thus, all marketing activities concentrated to establish, develop and maintain successful relational exchanges. By building strong relational bonds, relationship marketing improves customer loyalty resulting in improved firm performance. Relationship marketing is a strategically important tool to use to obtain and secure the result of customer’s loyalty, which leads to higher competitiveness and also enhanced satisfaction among the customers. The study revealed that there subsist significant relationships between customer satisfaction and loyalty. It is recognized that with improvement of customer satisfaction a firm will find customers that are more loyal. Based it, firm managers are advised to satisfy and better manage their relationships through quality product and service offerings to their customers as a competitive policy in the marketplace. These offerings are required to meet or surpass consumers’ expectations.

Keywords: customer loyalty, customer satisfaction, trend, relationship marketing

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Authors: Ajeni Ari

Abstract:

In addressing gender and transport, considerations of mobility disparities amongst users are important. Public transport (PT) policy and design do not efficiently account for the varied mobility practices between men and women, with literature only recently showing a movement towards gender inclusion in transport. Arrantly, transport policy and designs remain gender-blind to the variation of mobility needs. The global movement towards sustainability highlights the need for expeditious strategies that could mitigate biases within the existing system. At the forefront of such plan of action may, in part, be mandated inclusive infrastructural designs that stimulate user engagement with the transport system. Fundamentally access requires a means or an opportunity to entity, which for PT is an establishment of its physical environment and/or infrastructural design. Its practicality may be utilised with knowledge of shortcomings in tangible or intangible aspects of the service offerings allowing access to opportunities. To inform on existing biases in PT planning and design, this study analyses qualitative data to examine the opinions and lived experiences among transport user in Ireland. Findings show that infrastructural design plays a significant role in users’ engagement with the service. Paramount to accessibility are service provisions that cater to both user interactions and those of their dependents. Apprehension to use the service is more so evident with women in comparison to men, particularly while carrying out household duties and caring responsibilities at peak times or dark hours. Furthermore, limitations are apparent with infrastructural service offerings that do not accommodate the physical (dis)ability of users, especially universal design. There are intersecting factors that impinge on accessibility, e.g., safety and security, yet essentially, infrastructural design is an important influencing parameter to user perceptual conditioning. Additionally, data discloses the need for user intricacies to be factored in transport planning geared towards gender inclusivity, including mobility practices, travel purpose, transit time or location, and system integration.

Keywords: public transport, accessibility, women, transport infrastructure

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Authors: John Adeboye Oyeboade, Pius Olatunji Olaojo, Kuburay Folashade Yusuf, John Oluwaseye Adebayo

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Web-based Information Resources (WBIR) are increasingly becoming essential tools for students to accomplish academic tasks. Preliminary observation revealed that many polytechnic libraries in Southwestern Nigeria do not subscribe or renew subscriptions to WBIR academic databases, and students use free-based electronic resources. Hence, this study was carried out to investigate socioeconomic status and use of WBIR by public polytechnic students in Southwestern Nigeria. Six public polytechnics out of the 16 offerings of Higher National Diploma (HND) programs were selected by stratified random sampling to reflect federal and state polytechnics. A proportionate size sampling technique was used to select 1,463 HND students. The instruments used were Socioeconomic status (SeS) (α=0.81) and WBIR used for Academic Tasks (α=0.98) scales. Data were analyzed using descriptive statistics and Pearson’s product-moment correlation at a 0.05 level of significance. Students’ SeS ( =79.10) was moderate. Online reference sources ( =3.97), Web 2.0 ( =3.50), and social media ( =3.00) were regularly used WBIR. WBIR use ( =53.34) was moderate. The students used WBIR for project writing ( =3.46) and class assignments ( =3.42). The Students’ SeS (r=0.59) had significant relationships with WBIR use. Socioeconomic status directly influenced the use of WBIR for academic tasks. Management of polytechnics should provide WBIR subscriptions for students’ use in the polytechnic e-libraries.

Keywords: public polytechnic students, polytechnic libraries, socioeconomic status, Web-based information resources

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Authors: A. Aljohani, D. Moore, D. D. Ahiaga-Dagbui

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Cost overruns are endemic in the delivery of construction projects. The problem is global. It occurs irrespective of type and size of the project, its location, procurement method or client. The size of overruns can be as high as 200% in some cases. Projects thus unfortunately often make the news headlines, not for their immense socio-economic contribution to society, but for being poorly procured. In Saudi Arabia, two-thirds of construction projects are publicly procured by the Saudi government, which has been invested Billions of dollars in infrastructure projects each year as part of an ambitious strategic development agenda to shift from mainly oil dependency to multi-source dependency. However, reports show that about 3,000 public projects face diverse issues related to time and cost overrun. As part of an on-going study to develop a framework for effective public procurement for the Saudi Arabian construction industry, this paper reports the initial findings of the causes of cost overruns in the context of the Gulf State. It also evaluates the interface between some of the front-end loading issues in public procurement in Saudi and their effects on project performance. A systematic review of the existing literature on construction cost overruns, with focus on the Saudi Arabian construction industry has been used. One of the initial findings is that a fixed-price contract is usually used by the client in an attempt to transfer all financial risks to the contractors. This has the unintended consequence of creating a turbulent environment for the delivery of the project which leads to project abandonment by contractors, poor quality of work and substantial rework. Further work is being undertaken to empirically verify the initial findings reported in this paper and their generalizability for the construction industry as a whole.

Keywords: cost overrun, public procurement, Saudi Arabia, construction projects

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Authors: Mohd Zuhair, Ram Babu Roy

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This paper presents an overview of the accessibility, design, and functioning of health insurance plans launched by state governments in India. In recent years, the governments of several states in India have come forward to provide health insurance coverage for the low-income group and rural population to reduce the out of pocket expenditure (OPE) on healthcare. Different health insurance schemes have different structures and offerings which differ in the different demographic factors. This study will portray a comparative analysis of the various health insurance schemes by analyzing different offerings and finance generation of the schemes. The comparative analysis will explain the lesson to be learned from these schemes and extend the existing knowledge of the health insurance in India. This would help in recognizing tension between various drivers and identifying issues pertaining to the sustainability of health insurance schemes in India.

Keywords: health insurance, out of pocket expenditure, universal healthcare, sustainability

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Authors: Nicolas Haber

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The study addresses the design process of integrated product-service offerings as a measure of answering environmental sustainability concerns by replacing stand-alone physical artefacts with comprehensive solutions relying on functional results rather than conventional product sales. However, views regarding this transformation are dissimilar and differentiated: The study discusses the importance and requirements of product-service systems before analysing the theoretical studies accomplished in the extent of their design and development processes. Based on this, a framework, built on a design science approach, is proposed, where the distinct approaches from the literature are merged towards a unified structure serving as a generic methodology to designing product-service systems. Each stage of this model is then developed to present a holistic design proposal called the Functional Engineered Product-Service System (FEPSS) model. Product-service systems are portrayed as customisable solutions tailored to specific settings and defined circumstances. Moreover, the approaches adopted to guide the design process are diversified. A thorough analysis of the design strategies and development processes however, allowed the extraction of a design backbone, valid to varied situations and contexts whether they are product-oriented, use-oriented or result-oriented. The goal is to guide manufacturers towards an eased adoption of these integrated offerings, given their inherited environmental benefits, by proposing a robust all-purpose design process.

Keywords: functional product, integrated product-service offerings, product-service systems, sustainable design

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Authors: Adebayo A. Abimbola, Anifowose O. Joseph, Olanrewaju S. Taiwo

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Green building (GB) practices have the potential to save energy, save money, and improve the quality of human habitat. They can also contribute to water conservation, more efficient use of raw materials, and ecosystem health around the globe. The Intergovernmental Panel on Climate Change (IPCC) singled out the building sector as having the most cost-effective opportunities for reducing carbon emissions—in fact, many building-related opportunities are cost-neutral, or even cost-positive, to the building owner. These benefits have made green building practices the fastest-growing trend in the building industry, but they still represent only a fraction of new construction, and the enormous stock of existing buildings has barely been touched at all. To effectively deliver the kind of (GB) that can become a force for positive change at global, regional and local scales, all workforce sectors need new skills that are both technical and interpersonal in nature. A prominent bottleneck is seen to be education and training. This paper investigates the major gaps in current GB education and training offerings in Nigeria. A questionnaire survey was developed to capture the perception of construction professionals and academics in relevant professions regarding the significance of the identified gaps as it affects GB education and training. Based on Likert scale ranking, research result shows that perception of training in specific technical fields and financial benefits and evaluation are identified as the top gaps in GB training and education offerings. The paper concludes with suggestions and actions that can enhance capabilities of the GB workforce in Nigeria.

Keywords: education and training, gaps, green building, workforce

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Authors: Saeed Sayyad Hagh Shomar

Abstract:

Traffic congestion pricing in urban streets is one of the most suitable options for solving the traffic problems and environment pollutions in the cities of the country. Unlike its acceptable outcomes, there are problems concerning the necessity to pay by the mass. Regarding the fact that public response in order to succeed in this strategy is so influential, studying their response and behavior to get the feedback and improve the strategies is of great importance. In this study, a questionnaire was used to examine the public reactions to the traffic congestion pricing schemes at the center of Tehran metropolis and the factors involved in people’s decision making in accepting or rejecting the congestion pricing schemes were assessed based on the data obtained from the questionnaire as well as the international experiences. Then, by analyzing and comparing the schemes, guidelines to reduce public objections to them are discussed. The results of reviewing and evaluating the public reactions show that all the pros and cons must be considered to guarantee the success of these projects. Consequently, with targeted public education and consciousness-raising advertisements, prior to initiating a scheme and ensuring the mechanism of the implementation after the start of the project, the initial opposition is reduced and, with the gradual emergence of the real and tangible benefits of its implementation, users’ satisfaction will increase.

Keywords: demand management, international experiences, traffic congestion pricing, public acceptance, public reactions, public objection

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Authors: Tianji Jiang

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Habermas' definition of public sphere is a classical and well-regarded theory of the formation of public opinions, laying the foundation for many researches on public opinions and public media. In recent decades, public media have been changing rapidly as social media are gaining increasing importance. However, the occurrence of group polarization on social media, which is a hot issue today, is challenging Habermas' theory of the public sphere. This article reviews the public sphere theory and studies group polarization and social media. It proposes ideas on how to understand group polarization within the public sphere and comes up with some suggestions and ideas to reduce polarization on social media.

Keywords: public sphere, social media, group polarization, echo chamber, public opinion

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Authors: Giga Phartenadze

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In the legal framework of regulation of electronic governance, those norms are considered which include measures for improvement of functions of public institutions and a complex of actions for raising their standard such as websites of public institutions, online services, some forms of internet interactions and higher level of internet services. An important legal basis for electronic governance in Georgia is Georgian Law about Electronic Communications which defines legal and economic basis for utilizing electronic communication systems in Georgia. As for single electronic basis for e-governance regulation, it can be said that it does not exist at all. The official websites of public institutions do not have standards for proactive spreading of information. At the same time, there is no common legal norm which would make all public institutions have an official website for public relations, accountability, publicity, and raising information quality. Electronic governance in Georgia needs comprehensive legal regulation. Public administration in electronic form is on the initial stage of development. Currently existing legal basis has a low quality for public institutions and officials as well as citizens and business. Services of e-involvement and e-consultation have also low quality. So far there is no established legal framework for e-governance. Therefore, a single legislative system of e-governance should be created which will help develop effective, comprehensive and multi component electronic systems in the country (central, regional, local levels). Such comprehensive legal framework will provide relevant technological, institutional, and informational conditions.

Keywords: law, e-government, public administration, Georgia

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Authors: Si Chen, Le Zhang, Xian He

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The research explored the influences of public open space system on housing price through hedonic models, in order to support better open space plans and economic policies. We have three initial hypotheses: 1) public open space system has an overall positive influence on surrounding housing prices. 2) Different public open space types have different levels of influence on motivating surrounding housing prices. 3) Walking and driving accessibilities from property to public open spaces have different statistical relation with housing prices. Cook County, Illinois, was chosen to be a study area since data availability, sufficient open space types, and long-term open space preservation strategies. We considered the housing attributes, driving and walking accessibility scores from houses to nearby public open spaces, and driving accessibility scores to hospitals as influential features and used real housing sales price in 2010 as a dependent variable in the built hedonic model. Through ordinary least squares (OLS) regression analysis, General Moran’s I analysis and geographically weighted regression analysis, we observed the statistical relations between public open spaces and housing sale prices in the three built hedonic models and confirmed all three hypotheses.

Keywords: hedonic model, public open space, housing sale price, regression analysis, accessibility score

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Authors: Ahmad Samim Ranjbar, Shoshi Mizokami

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Kabul is the heart of political, commercial, cultural, educational and social life in Afghanistan and the Kabul fifth fastest growing city in the world, since 2001 with the establishment of new government Lack of adequate employment opportunities and basic utility services in remote provinces have prompted people to move to Kabul and other urban areas. From 2001 to the present, a rapid increase in population, and also less income of the people most of residence tend to use public transport, especially buses, however there is no proper bus system exist in Kabul city, because of wars, from 1992 to 2001 Kabul suffered damage and destruction of its transportation facilities including pavements, sidewalks, traffic circles, drainage systems, traffic signs and signals, trolleybuses and almost all of the public transit buses (e.g. Millie bus). This research is a primary and very important phase into Kabul city transportation and especially an initial and important step toward using large bus in Kabul city, which the main purpose of this research is to find the demand of Kabul city residence for public transport (Large Bus) and compare it with the actual supply from government. Finding of this research shows that the demand of Kabul city residence for the public transport (Large Bus) exceed the supply from the government, means that current public transportation (Large Bus) is not sufficient to serve people of Kabul city, it is mentionable that according to this research there is no need to build a new road or exclusive way for bus, this research propose to government for investment on the public transportation and exceed the number of large buses to can handle the current demand for public transport.

Keywords: transportation, planning, public transport, large bus, Kabul, Afghanistan

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Authors: Natalie Malone

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This study explores the role of a public library in the creation of social spaces for vulnerable populations. The data stems from a longitudinal ethnographic study of the Anderson Library community, which included field notes, artifacts, and interview data. Thematic analysis revealed multiple meanings and thematic relationships within and among the data sources -interviews, field notes, and artifacts. Initial analysis suggests the Anderson Library serves as a space for vulnerable populations, with the sub-themes of fostering interpersonal communication to create a social space for children and fostering interpersonal communication to create a social space for parents and adults. These findings are important as they illustrate the potential of public libraries to serve as community empowering institutions.

Keywords: capital, immigrant families, public libraries, space, vulnerable

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Authors: Claudia Ehrentraut, Osama Ibrahim, Hercules Dalianis

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Policy making situations are real-world problems that exhibit complexity in that they are composed of many interrelated problems and issues. To be effective, policies must holistically address the complexity of the situation rather than propose solutions to single problems. Formulating and understanding the situation and its complex dynamics, therefore, is a key to finding holistic solutions. Analysis of text based information on the policy problem, using Natural Language Processing (NLP) and Text analysis techniques, can support modelling of public policy problem situations in a more objective way based on domain experts knowledge and scientific evidence. The objective behind this study is to support modelling of public policy problem situations, using text analysis of verbal descriptions of the problem. We propose a formal methodology for analysis of qualitative data from multiple information sources on a policy problem to construct a causal diagram of the problem. The analysis process aims at identifying key variables, linking them by cause-effect relationships and mapping that structure into a graphical representation that is adequate for designing action alternatives, i.e., policy options. This study describes the outline of an algorithm used to automate the initial step of a larger methodological approach, which is so far done manually. In this initial step, inferences about key variables and their interrelationships are extracted from textual data to support a better problem structuring. A small prototype for this step is also presented.

Keywords: public policy, problem structuring, qualitative analysis, natural language processing, algorithm, inference extraction

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Authors: An-an Chiu, Shaio Yan Huang, Ling-Na Chen, Wei-Hua Lin

Abstract:

Research has primarily focused on listed companies, less is done regarding small and medium-sized enterprises. Under the authorities' support, Taipei Exchange (TPEx) started Go Incubation Board for Startup and Acceleration Firms (GISA) in January 2014. This platform is designed to help small-sized innovative companies grow and to enter the capital market in the future. This research yield insight into earnings management activities around seasoned equity offerings (SEO) based on Taiwan’s GISA firms and the effectiveness of external corporate governance. Data for the study come from the GISA Market Observation Post System from January 2014 to December 2016. The result finds that GISA firms prone to upward accrual-based earnings management during SEO to avoid long-term negative consequences. Especially, firms with paid-in capital more than NT$ 30 million, higher fundraising amounts, or smaller-sized firms, tend to increase discretionary accruals. Finally, consistent with prior literature, CPA firms effectively serve as the role of external corporate governances on mitigating earnings management.

Keywords: GISA, earnings　management, CPA, seasoned equity offerings

Procedia PDF Downloads 105

Authors: Bibi Somayeh Aliakbari, Niknaz Kachooei, Fatemeh Amiri Najafabadi

Abstract:

According to the results of contemporary urbanism, social living moved into buildings and the quality of urban space has been declining. But still, there are life in open public space and it is one of reason attendance and activities of people in open public spaces.The purpose of this research is finding reason creation friendly public space in urban spaces and also use these in new urban spaces.The research methodology consisted of a qualitative model based on observation and graphical analysis. In this paper case study is public space historical, moderns in urban scales and local scales in Iran.This paper shows that Existence of friendly public space in cities cause is attendance and activities of people in open public spaces that it is reason the revitalization of public open spaces in cities.

Keywords: public space, public open space, friendly public space, Iran

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Authors: Mahmoud Aly, Mohamed Ismail, Mohamed Badereldin, Amro Mostafa

Abstract:

Introduction: The models of soul houses were appeared in the prehistory, old kingdom, and middle kingdom period. They represented the imagination of the deceased about his house in the afterlife, some of these soul houses were two floors, and the study will examine five models of soul houses which were discovered near Saqqara site by an Egyptian mission. These models had been transferred to The Grand Egyptian Museum (GEM) to be ready to display at the new museum. We focus upon five models of soul houses (GEM Numbers, 1276,1280,1281,1282,8711) they related to the old kingdom period. These models were all made of pottery, the five models have oval shape and were decorated with relief. Methodology: The study will focus on the development of soul houses during the different periods in ancient Egypt and the kinds of offerings which will reflect the economic situation in the Egyptian society and kinds of oils which were famous in ancient Egypt. Conclusion: This research focuses on the function of soul house and the kind of offerings which were put in it, This study will be useful for the heritage and ancient civilizations, specially when we talk about opening new museums like The Grand Egyptian Museum, which will display a new collection of soul houses.

Keywords: archaeology study, grand egyptian museum, relief, soul houses

Procedia PDF Downloads 48