Search results for: real estate investment trust

Authors: D. De Matías Batalla

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This paper develops and extended eclectic paradigm to fit the firm internationalization process with the real international business world. The approach is based on Dunning´s, introducing new concepts like mode of entry, international joint venture o international mergers and acquisitions. At the same time is presented a model to describe the Spanish international mergers and acquisitions in order to determinate the most important factor that influence in this type of foreign direct investment.

Keywords: dunning, eclectic paradigm, foreign direct investment, IJV, international business, international management, multinational firms, firm internationalization process, M&A

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Authors: C. F. Popoola, K. Akinsanya, S. B. Babarinde, D. A. Farinde

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This study investigated published financial statement as correlate of investment decision among commercial bank stakeholders in Nigeria. A correlation research design was used in the study. 180 users of published financial statement were purposively sampled from Lagos and Ibadan. Data generated were analyzed using Pearson correlation and regression. The findings of the study revealed that, balance sheet is negatively related with investment decision (r=-.483; p < .01) while income statement (r= .249; p < .001), notes on the account (r= .230; p < .001), cash flow statement (r= .202; p < .001), value added statement (r= .328; p < .001) and five-year financial summary (r= .191 ;p < .01) are positively related with investment decision. Findings also revealed that components of published financial statement significantly predicted good investment decision (R2= .983; F(5,175)=284.5; p < .05) for commercial bank stakeholders. Therefore, it was suggested that Nigeria banks and professional bodies should instigate programs that will increase the knowledge of stakeholders on published financial statement.

Keywords: commercial banks, financial statement, income statement, investment decision, stakeholders

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Authors: Ethelbert C. Njoku

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The primary determination of any individual is the achievement of wholesome health. This is applicable to the government too. This desire becomes a reality with the efforts of medical practitioners who work day and night to ensure that the health of people is not compromised in any form. To achieve this laudable goal, the psychological wellbeing of the practitioners must be unparalleled. They must be psychologically fit in order to deliver as expected. More so, the organization must be able to provide the basic ingredients of trust in the daily management of the organization. Significantly, proper Interpersonal Communication Competence remains a necessity in the overall realization of this goal. 200 participants took part in the study, and they were selected through convenient sampling method from hospitals in Imo State. The current study adopted cross sectional survey design in trying to find out if Interpersonal Communication Competence and Organizational Trust can predict Psychological Wellbeing of medical practitioners in Imo State. Standard Multiple Regression Analysis was used for data analysis. Interestingly, the results indicate that interpersonal communication competence and organizational trust predicted psychological wellbeing among medical practitioners. The implication of this study hinges on the fact that since Interpersonal Communication Competence and Organizational Trust are important for psychological wellbeing of medical practitioners, the government and managers should try to provide opportunities that enhance these variables in the organization for the psychological wellbeing of medical practitioners.

Keywords: interpersonal communication competence, medical practitioners, organizational trust, psychological wellbeing

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Authors: Maria João Mimoso, Bárbara Magalhães Bravo

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This study aims to analyse the phenomenon of arbitration as a paradigm in solving emerging controversies of foreign investment. We will present their benefits and demonstrate their contribution to greater legal certainty in economic relations. This article explores the legal relevant concepts under a strictly conceptual methodology, preparing future research to be developed under more developed comparative law methodologies. The review of national and international literature and jurisprudence will reveal the importance of arbitration in the field of international economic relations, presenting it as an alternative dispute resolution. Globalization imposes new forms of investment protection and appeals to other forms of dispute settlement, primarily to prevent, among other problems, the possible bias of the recipient country's investment tribunals. Characterization of foreign investment, its regulatory sources, their characteristics and the need for intervention of an entity capable of resolving disputes between the parties involved: State investor reception; Investor (of a nationality other than the latter); State of the investor's nationality, and sometimes a ‘subsidiary’ local foreign investor. The ICSID (International Settlement of Investment Disputes) arbitration as a means of resolving investment litigations covered by bilateral treaties (BIT) and investment contracts calls for a delimitation of these two figures in order to clarify the scope of the arbitration under the aegis of the World Bank and to make it more secure in the view of the sovereign power of the States.

Keywords: arbitration, contract, foreign, investment, disputes

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Authors: Tayebeh Zargar

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The aim of the present research is to study the role of organizational trust in the relationship between organizational justice and organizational citizenship behaviors in sport organizations of Tehran Municipality. The method of this study is correlation and it is based on structural equation modeling. Among all staffs of sport organizations of Tehran Municipality, 150 staff members were selected through random sampling. The data gathering instrument of the study incorporated the Moorman’s (1999) Organizational Justice Questionnaire (OJQ), Ruder’s (2003) Trust Organizational Questionnaire (TOQ), and the Organizational Citizenship Behavior Scale (DiPaola, Tarter, & Hoy, 2005). SEM was utilized to analyze the data. Regarding the relationships between the variables presented in the model, the following results were obtained: organizational justice has significant direct positive effect on organizational trust (β=0.82), and organizational trust itself has significant direct positive effect on citizenship behavior (β=0.65). According to the results, making efforts in order to encourage staff members to participate more in organizational decision-making will influence their condition. Furthermore, paying more attention to organizational justice may cause the staff members to accept the organizational structure and respect the rules, volunteer in supporting the organizational resources, and have active participation in managing organization roles.

Keywords: organizational trust, organizational justice, organizational citizenship behaviors, sport organizations

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Authors: Katharina Fellnhofer

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The more information and knowledge that technology provides, the more important are profoundly human skills like intuition, the skill of using nonconscious information. As our world becomes more complex, shaken by crises, and characterized by uncertainty, time pressure, ambiguity, and rapidly changing conditions, intuition is increasingly recognized as a key human asset. However, due to methodological limitations of sample size or time frame or a lack of real-world or cross-cultural scope, precisely how to measure intuition when facing risks on a nonconscious level remains unclear. In light of the measurement challenge related to intuition’s nonconscious nature, a technique is introduced to measure intuition via hidden images as nonconscious additional information to trigger intuition. This technique has been tested in a within-subject fully online design with 62,721 real-world investment decisions made by 657 subjects in Europe and the United States. Bayesian models highlight the technique’s potential to measure skill at using nonconscious information for conscious decision making. Over the long term, solving the mysteries of intuition and mastering its use could be of immense value in personal and organizational decision-making contexts.

Keywords: cognition, intuition, investment decisions, methodology

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Authors: Andrea Palazzo, Daniel Macek, Veronika Malinova

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Contour processing is the new technology challenge for architects and construction companies. The many advantages it promises make it one of the most interesting solutions for construction in terms of automation of building processes. The technology for 3D printing houses offers many application possibilities, from low-cost construction, to being considered by NASA for visionary projects as a good solution for building settlements on other planets. Another very important point is that clients, as architects, will no longer have many limits in design concerning ideas and creativity. The prices for real estate are constantly increasing and the lack of availability of construction materials as well as the speculation that has been created around it in 2021 is bringing prices to such a level that in the future real estate developers risk not being able to find customers for these ultra-expensive homes. Hence, this paper starts with the introduction of 3D printing, which now has the potential to gain an important position in the market, becoming a valid alternative to the classic construction process. This technology is not only beneficial from an economic point of view but it is also a great opportunity to have an impact on the environment by reducing CO2 emissions. Further on in the article we will also understand if, after the COP 26 (2021 United Nations Climate Change Conference), world governments could also push towards building technologies that reduce the waste materials that are needed to be disposed of and at the same time reduce emissions with the contribution of governmental funds. This paper will give us insight on the multiple benefits of 3D printing and emphasise the importance of finding new solutions for materials that can be used by the printer. Therefore, based on the type of material, it will be possible to understand the compatibility with current regulations and how the authorities will be inclined to support this technology. This will help to enable the rise and development of this technology in Europe and in the rest of the world on actual housing projects and not only on prototypes.

Keywords: additive manufacturing, contour crafting, development, new regulation, printing material

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Authors: Sahil Anand, John Luetke, Nikhil Venkatesh, Dorothy Wong

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Trust plays an important role in building and sustaining long-term relationships between people. In this paper, we present a robot that communicates using nonverbal behaviors such as facial expressions and body movements. Our study reports on an experiment in which participants were asked to team up with the robot to perform specific tasks. We varied the expressivity of the robot and measured the effects on trust, quality of interactions as well as on the praising and punishing behavior of the participant towards the robot. We found that participants developed a stronger affinity towards the expressive robot, but did not show any significant differences in the level of trust. When the same robot made mistakes, participants unconsciously punished it with lesser intensity compared to the neutral robot. The results emphasize the role of expressive behaviors on participant’s perception of the robot and also on the quality of interactions between humans and robots.

Keywords: human-robot interaction, nonverbal communication, relationships, social robot, trust

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Authors: Shelly-Ann Gajadhar

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Over the last twenty years, the traditional economic motivations of foreign direct investment have been amalgamated with geopolitical motivations. This is evidenced by the extensive ratification of bilateral investment treaties (BIT) globally and the emergence of state-owned multinational companies (SOMNCs) that directly compete with local domestic enterprises (LDE). This paper investigates the impact that Chinese SOMNCs have on LDEs within Trinidad and Tobago’s construction sector and, determines whether knowledge transfer occurs. The paper employed semi-structured interviews of industry experts and concluded that LDEs predominantly experience adverse spillovers, inclusive of a long-term competition effect, with no technology transfer occurring.

Keywords: foreign direct investment, bilateral investment treaties, knowledge transfer, international business, Caribbean

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Authors: Arkaprabha Bhattacharyya, Makarand Hastak

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The COVID-19 pandemic is unprecedented in terms of its global reach and economic impacts. Historically, investment in infrastructure development projects has been touted to boost the economic growth of a nation. The State and Local governments responsible for delivering infrastructure assets work under tight budgets. Therefore, it is important to understand which infrastructure projects have the highest potential of boosting economic growth in the post-pandemic era. This paper presents relationships between infrastructure projects and economic growth. Statistical relationships between investment in different types of infrastructure projects (transit, water and wastewater, highways, power, manufacturing etc.) and indicators of economic growth are presented using historic data between 2002 and 2020 from the U.S. Census Bureau and U.S. Bureau of Economic Analysis (BEA). The outcome of the paper is the comparison of statistical correlations between investment in different types of infrastructure projects and indicators of economic growth. The comparison of the statistical correlations is useful in ranking the types of infrastructure projects based on their ability to influence economic prosperity. Therefore, investment in the infrastructures with the higher rank will have a better chance of boosting the economic growth. Once, the ranks are derived, they can be used by the decision-makers in infrastructure investment related decision-making process.

Keywords: economic growth, infrastructure development, infrastructure projects, strategic investment

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Authors: Luca Martignoni, Joseph Nserat, Eric Arand, Marvin Braun

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The increasing application of conversational agents in healthcare and the demand for applications that enable patients to take informed decisions is changing the way patients access healthcare and take decisions. Promising results related to the acceptance of CAs in healthcare have been accomplished. In that regard, understanding how to design CAs in a way that patients trust their recommendations and decisions constitutes an important area of research. Our study examines self-disclosure and transparency as drivers of trust to enhance the medical assistance of CAs for patients. Accordingly, we examined the effects of self-disclosure and transparency on patients trust and service satisfaction by conducting an online experiment with 136 participants. Our results show that the expression of both self-disclosure and conversational agents transparency leads to an increased perception of trust but does not necessarily improve the service satisfaction. Therefore, developers should implement self-disclosure and transparency to create a trustworthy environment.

Keywords: conversational agent, transparency, self-disclosure, healthcare

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Authors: Jonas Hinker, Lisa Zumholz, Johanna M. A. Myrzik

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Despite strong efforts by the German government to make a transition to higher quality level of building stocks, the rate of renovation continues to remain below the proclaimed level of 2%. As the mandatory standards for residential retrofits are well-balanced in such a way that strict adherence to them guarantees profit from the investment, it becomes difficult to explain the reasons why there are so many people hesitant with their investments. Risks and transaction costs can be understood as socio-technical boundaries and have to be taken into consideration to be able to understand why a worthwhile investment is postponed or rejected. This paper therefore presents a method for investment analyses that is focused on such socio-technical constraints, which helps to reveal the strongest misconceptions of home owners. By depicting sensitivities and risk factors in an integrated and impartial way, such a tool can be utilized by home owners to address reservations and misunderstandings. In the end, this leads to an exploitation of smaller energy efficiency measures that makes up a big demand reduction in the residential sector altogether.

Keywords: energy refurbishment, investment analysis, residential buildings, risk-aware investment strategy

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Authors: Safiye Ates Burc

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This proposal is based on the story of Kurdish tribal conflict and peace in Mardin (Turkey). In the stories that will be detailed with in-depth interviews with the parties to the conflict (family elders, mediators and other tribal lords); It will be examined how rumor has an effect on establishing conflict and peace and whether it shakes the trust between the parties. In fact, this research is still at an ongoing stage. In this paper, the effect of emotions on conflict and reconciliation, which is the main subject of this ongoing study, will be conveyed in line with the data obtained from the preliminary research. In-depth interviews are conducted in the research in which the ethnography method is used. As an early result, it can be said that in organizations such as the Kurdish tribes, where local loyalties and traditions are very strong, the rumor has the potential to shake the trust between the parties and thus can become the excuse for conflict. Because rumors damage the prestige of tribes, that’s, it’s social capital.

Keywords: rumor, trust, Kurdish tribes, local peacemaking, conflict

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Authors: Majid Lotfi Ghahroud, Seyed Jalal Tabatabaei, Ebrahim Karami, AmirArsalan Ghergherechi, Amir Ali Saeidi

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In this study, the relationship between investment growth and stock returns of companies listed in Tehran Stock Exchange and whether their relationship -behavioral or risk factors- are discussed. Generally, there are two perspectives; risk-based approach and behavioral approach. According to the risk-based approach due to increase investment, systemic risk and consequently the stock returns are reduced. But due to the second approach, an excessive optimism or pessimism leads to assuming stock price with high investment growth in the past, higher than its intrinsic value and the price of stocks with lower investment growth, less than its intrinsic value. The investigation period is eight years from 2007 to 2014. The sample consisted of all companies listed on the Tehran Stock Exchange. The method is a portfolio test, and the analysis is based on the t-student test (t-test). The results indicate that there is a negative relationship between investment growth and stock returns of companies and this negative correlation is stronger for firms with higher cash flow. Also, the negative relationship between asset growth and stock returns is due to behavioral factors.

Keywords: behavioral theory, investment growth, risk-based theory, stock returns

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Authors: Pramika J. Muthya

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This paper investigates the impact of web graphics and interface design on building visitor trust in websites. A quantitative survey approach was used to examine how aesthetic and usability elements of website design influence user perceptions of trustworthiness. 133 participants aged 18-25 who live in urban Bangalore and engage in online transactions were recruited via convenience sampling. Data was collected through an online survey measuring trust levels based on website design, using validated constructs like the Visual Aesthetic of Websites Inventory (VisAWI). Statistical analysis, including ordinal regression, was conducted to analyze the results. The findings show a statistically significant relationship between web graphics and interface design and the level of trust visitors place in a website. The goodness-of-fit statistics and highly significant model fitting information provide strong evidence for rejecting the null hypothesis of no relationship. Well-designed visual aesthetics like simplicity, diversity, colorfulness, and craftsmanship are key drivers of perceived credibility. Intuitive navigation and usability also increase trust. The results emphasize the strategic importance for companies to invest in appealing graphic design, consistent with existing theoretical frameworks. There are also implications for taking a user-centric approach to web design and acknowledging the reciprocal link between pre-existing user trust and perception of visuals. While generalizable, limitations include possible sampling and self-report biases. Further research can build on these findings to deepen understanding of nuanced cultural and temporal factors influencing online trust. Overall, this study makes a significant contribution by providing empirical evidence that reinforces the crucial impact of thoughtful graphic design in fostering lasting user trust in websites.

Keywords: web graphics, interface design, visitor trust, website design, aesthetics, user experience, online trust, visual design, graphic design, user perceptions, user expectations

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Authors: Moridi Fatemeh, Dasineh Mehdi, Jafari Narges

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The aim of this study was to investigate the relationship between dividends and investment in a condition of cash flow uncertainty. Previous studies have also found some evidence that there is N-shaped relationship between dividends and investment given different levels of cash uncertainly. Thus, this study examines this relationship over the period 2009-2014 in Tehran Stock Exchange (TSE). Based on our sample and new variables, we found reverse N-shaped relationship in different levels of cash flow uncertainly. This shape was descending in cash flow certainly and uncertainly but it is ascending in medial position.

Keywords: dividends, investment, nonlinear relationship, uncertainty of cash flow

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Authors: Rihab Belguith, Fathi Abid

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The paper develops a system-based approach to investigate the dynamic adjustment of debt structure and investment policies of the Dow-Jones index. This approach enables the assessment of relations among sales, debt, and investment opportunities by considering the simultaneous effect of the market environmental change and future growth opportunities. We integrate the firm-specific sales variance to capture the industries' conditions in the model. Empirical results were obtained through a panel data set of firms with different sectors. The analysis support that environmental change does not affect equally the different industry since operating leverage differs among industries and so the sensitivity to sales variance. Including adjusted-specific variance, we find that there is no monotonic relation between leverage, sales, and investment. The firm may choose a low debt level in response to high sales variance but high leverage to attenuate the negative relation between sales variance and the current level of investment. We further find that while the overall effect of debt maturity on leverage is unaffected by the level of growth opportunities, the shorter the maturity of debt is, the smaller the direct effect of sales variance on investment.

Keywords: dynamic panel, investment, leverage decision, sales uncertainty

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Authors: Julio Vicente Cateia

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This study aims to analyze the economic impacts of infrastructure investment in Africa, focusing on the Guinea-Bissau economy. Through a dynamic CGE model, we find that the natural resource revenues (or aid)-funded infrastructure investments generate externalities that increase factor returns. The private investment improvements propagate externalities effects on GDP and job opportunities outcomes. Household income and consumption were positively impacted, though the poorer benefited the most. The income inequality has reduced. However, funding by the mix of debt and direct taxes produces opposite effects. We suggest a potential pro-poor growth agenda in Africa.

Keywords: infrastructure investment, poverty alleviation, CGE modeling, African economies, applied economics

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Authors: Marwa Zein

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The long-term of the contract is one of the major features that distinguish international trade and investment contracts from other internal contracts. This is due to the nature of the contract and the huge works required to be performed from one hand or the desire of the parties to achieve stability in their transactions. However, long-term contracts might expose them to certain events and circumstances that impact the capability of the parties to execute their obligations pursuant to these contracts. During the year 2016, the Egyptian government has taken series of economic decisions which greatly impacted the economic and investment environment. Consequently, many contracts have encountered many problems in their execution due to such changes that greatly influence the performance of their obligation, a matter that necessitated the renegotiation of the conditions of these contracts on the basis of the unpredicted changes that could be listed under the Force Majeure Clause. The principle of fair and equitable treatment in investment placed on an obligation on the Egyptian government to consider the renegotiation of contract clauses based on the new conditions. This paper will discuss the idea of renegotiating international trade and investment contracts in Egypt with reference to the changes the economic environment has witnessed lately.

Keywords: change of circumstances, international contracts, investment contracts, renegotiation

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Authors: Pui Yong Leo, Normy Maziah Mohd Said

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Change of global economy landscape and business environment has led to companies’ decision to go global and enter international markets. As the companies go beyond the comfort zone (i.e. investing in the home country), it is important to ensure a comprehensive risk assessment is carried out. This paper describes a standardized approach for international investment, ensuring identification of risk, risk appetite, risk rating, risk treatment and mitigation plans for respective international investment proposal. The standardized approach is divided into three (3) stages as follows: Stage 1 – Preliminary Risk profiling; with the objective to gauge exposure to countries and high level risk factors as first level assessment. Stage 2 – Risk Parameters; with the objective to define risk appetite for the international investment from the perspective of likelihood and impact. Stage 3 – Detailed Risk Assessments; with the objectives to assess in detail any triggered elements from Stage 1, and project specific risks. The final output will include the mitigation plans for the identified risks for the total investment. Example will be given in this paper to show how comprehensive risk assessment is carried out for an international investment in power energy sector.

Keywords: international investment, mitigation plans, risk appetite, risk assessment

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Authors: Safak Baykal

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The purpose of this study is analyzing the relationship between self leadership and social capital of people with using Social Network Analysis. In this study, two aspects of social capital will be focused: bonding, homophilous social capital (BoSC) which implies better, strong, dense or closed network ties, and bridging, heterophilous social capital (BrSC) which implies weak ties, bridging the structural holes. The other concept of the study is Trust (Tr), namely interpersonal trust, willingness to ascribe good intentions to and have confidence in the words and actions of other people. In this study, the sample group, 61 people, was selected from a private firm from the defense industry. The relation between BoSC/BrSC and Tr is shown by using Social Network Analysis (SNA) and statistical analysis with Likert type-questionnaire. The results of the analysis show the Cronbach’s alpha value is 0.73 and social capital values (BoSC/BrSC) is highly correlated with Tr values of the people.

Keywords: bonding social capital, bridging social capital, trust, social network analysis (SNA)

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Authors: Smriti Mishra, Jaydip Barman, Shashi Kant Pandey

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Many scholars suggest that waterfront development projects have an all round impact on cities. However, their research stops short of considering the perception of local residents, of what they think about the impact of such developments and the kind of waterfront development which they would prefer to support. Therefore, this paper attempts to address this imbalance in the literature by analysing a survey of residents' perceptions of such developments. The paper discusses the issue in the Indian context by considering Sabarmati Riverfront Development Project (SRFD) of Ahmadabad. It gives an overview of the project components of the SRFD; discusses its development issues and concerns associated with it. It further examines the structural relationship between socio-economic and demographic attributes of local residents and their attitudes and perception towards the economic impact of such developments. The study suggests that the economic component that riverfront development will attract more investment in their community and that riverfront development will increase real estate tax revenue emerged as strong components. While the economic component of substantial premiums to developers, land owners and local government and the other of cost of developing riverfront facilities are too much of a burden on government and public sector agencies appear to be weaker economic components of the perceived economic impacts of urban riverfront development. This paper also gives an overview of the urban waterfront development in the global scenario. It highlights the need to consider residents perception in the development of such projects.

Keywords: urban waterfront development, riverfront, economic impact, resident perception, SRFD

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Authors: Misbah Javaid, Vladimir Estivill-Castro, Rene Hexel

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The field of robotics is advancing rapidly to the point where robots have become an integral part of the modern society. These robots collaborate and contribute productively with humans and compensate some shortcomings from human abilities and complement them with their skills. Effective teamwork of humans and robots demands to investigate the critical issue of trust. The field of human-computer interaction (HCI) has already examined trust humans place in technical systems mostly on issues like reliability and accuracy of performance. Early work in the area of expert systems suggested that automatic generation of explanations improved trust and acceptability of these systems. In this work, we augmented a robot with the user-invoked explanation generation proficiency. To measure explanations effect on human’s level of trust, we collected subjective survey measures and behavioral data in a human-robot team task into an interactive, adversarial and partial information environment. The results showed that with the explanation capability humans not only understand and recognize robot as an expert team partner. But, it was also observed that human's learning and human-robot team performance also significantly improved because of the meaningful interaction with the robot in the human-robot team. Moreover, by observing distinctive outcomes, we expect our research outcomes will also provide insights into further improvement of human-robot trustworthy relationships.

Keywords: explanation interface, adversaries, partial observability, trust building

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Authors: Qiuying Li, Fan Chen

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It is a shared opinion that sustainable development requires continuously updated, meaning that apparent changes in the way we usually produce our buildings are strongly needed. In China’s construction field, the associated environmental, health problems are quite prominent.Especially low sustainable performance (as opposed to Green creation) flooding the real estate boom and high-speed urban and rural urbanization. Currently, we urgently need to improve the existing design basis,objectives,scope and procedures,optimization design portfolio.More new evaluation system designed to facilitate the building to enhance the overall level.

Keywords: design for sustainability, design and materials, ecomaterials, sustainable architecture and urban design

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Authors: Chan Kwon Park, Chae-Bogk Kim, Sung-Min Park

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This study is a research on the authenticity of transactions between corporations and quality of their relationships and transaction performances. As the factors of authenticity of transactions, honesty, transparency, customer orientation and consistency were selected; as the factors of quality of relationships, trust and commitment were selected, and as the factors of transactions performances, intention of repeat transactions and switching intention were selected, and on these relationships a hypothesis was established, and verification was conducted. First, the factors of the authenticity of transactions positively influenced the factors of quality of relationships. Thus, a higher level of authenticity of transactions can lead to higher level of trust and commitment. Second, the factors of quality of relationships made a positive influence on the intention of repeat transactions, while a negative influence in the switching intention. Third, it showed that trust and commitment as the factors of quality of relationships functioned partly as the parameter between the authenticity of transactions and transaction performances. Finally, it proved that the factors of the authenticity of transactions improved trust and commitment in transactions between corporations and further improved the intention of repeat transactions while they decreased the switching intention.

Keywords: authenticity of transactions, trust, commitment, intention of repeat transactions, switching intention

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Authors: Wanida Suwunniponth

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The objectives of this research paper was to study the influencing factors that contributed the willingness of consumers to purchase products online included quality of website, perceived ease of use, perceived usefulness, trust on online purchases, attitude towards online shopping and intentions to online purchases. The research was conducted in both quantitative and qualitative methods, by utilizing both questionnaire and in-depth interview. A questionnaire was used to collect data from 350 consumers who had online shopping experiences in Bangkok, Thailand. Statistics utilized in this research included descriptive statistics and path analysis. The findings revealed that the factors concerning with quality of website, perceived ease of use and perceived usefulness played an influence on trust in online shopping. Trust also played an influence on attitude towards online purchase, whereas trust and attitude towards online purchase manipulated the intention of online purchase.

Keywords: e-commerce, intention, online shopping, TAM, technological acceptance model

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Authors: Imen Dhaou

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This study examines conditional Value at Risk by applying the GJR-EVT-Copula model, and finds the optimal portfolio for eight Dow Jones Islamic-conventional pairs. Our methodology consists of modeling the data by a bivariate GJR-GARCH model in which we extract the filtered residuals and then apply the Peak over threshold model (POT) to fit the residual tails in order to model marginal distributions. After that, we use pair-copula to find the optimal portfolio risk dependence structure. Finally, with Monte Carlo simulations, we estimate the Value at Risk (VaR) and the conditional Value at Risk (CVaR). The empirical results show the VaR and CVaR values for an equally weighted portfolio of Dow Jones Islamic-conventional pairs. In sum, we found that the optimal investment focuses on Islamic-conventional US Market index pairs because of high investment proportion; however, all other index pairs have low investment proportion. These results deliver some real repercussions for portfolio managers and policymakers concerning to optimal asset allocations, portfolio risk management and the diversification advantages of these markets.

Keywords: CVaR, Dow Jones Islamic index, GJR-GARCH-EVT-pair copula, portfolio optimization

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Authors: Murat Erdoğdu, Murat Koçyiğit

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Brand image and brand loyalty are among the most important relational marketing elements for brand owners to be able to set up long – term relationships with their customers and to maintain these relationships. Brand owners improve their brand images with the positive perceptions remaining in the consumers’ minds. In addition, they try to find the customers that are both emotionally and behaviourally faithful to themselves in order to set up long – term relationships. Therefore, the aim of this study is to analyse the effects of the brand image that has a very important role among relational marketing elements on the brand loyalty in terms of the variables such as the perceived value, the trust in brand and the brand satisfaction. In this context, a conceptual model was created to determine the effect of the brand image on the brand loyalty thanks to the Structural Equation Model (SEM). According to this aim and this model, the study was carried out in the scope of the data collected through the questionnaires in Konya with the method of convenience sampling. The results of the research showed that the brand image has positive significant effects on the perceived value and the trust in brand and that the trust in brand has positive significant effects on the brand satisfaction, and that the brand satisfaction has positive significant effects on the brand loyalty. Thus, the hypotheses that the brand image has direct effects on the perceived value and the trust in brand and that the trust in brand has direct effects on the brand satisfaction and that the brand satisfaction has direct effects on the brand loyalty were supported. In addition, the findings about whether the perceived value has a significant effect on the brand satisfaction were also acquired.

Keywords: brand image, brand loyalty, perceived value, satisfaction, trust

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Authors: Wanida Suwunniponth

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The purpose of this research was to study the factors of characteristic of business, website quality and trust affected intention to use electronic payment systems for online purchasing. This survey research used questionnaire as a tool to collect the data of 300 customers who purchased online products and used an electronic payment system. The descriptive statistics and multiple regression analysis were used to analyze data. The results revealed that customers had a good opinion towards the characteristic of the business and website quality. However, they have a moderate opinion towards trust and intention to repurchase. In addition, the characteristics of the business affected the purchase intention the most, followed by website quality and the trust with statistical significance at 0.05 level. For particular, the terms of reputation, communication, information quality, perceived risk and word of mouth affected the intention to use the electronic payment system. In contrast, the terms of size, system quality and service quality did not affect intention to use an electronic payment system.

Keywords: electronic payment, intention, online purchasing, trust

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Authors: Jonardan Koner

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The study attempts to find out the impact of infrastructural investment on state economic growth in India. It further tries to determine the magnitude of the impact of infrastructural investment on economic indicator, i.e., per-capita income (PCI) in Indian States. The study uses panel regression technique to measure the impact of infrastructural investment on per-capita income (PCI) in Indian States. Panel regression technique helps incorporate both the cross-section and time-series aspects of the dataset. In order to analyze the difference in impact of the explanatory variables on the explained variables across states, the study uses Fixed Effect Panel Regression Model. The conclusions of the study are that infrastructural investment has a desirable impact on economic development and that the impact is different for different states in India. We analyze time series data (annual frequency) ranging from 1991 to 2010. The study reveals that the infrastructural investment significantly explains the variation of economic indicators.

Keywords: infrastructural investment, multiple regression, panel regression techniques, economic development, fixed effect dummy variable model

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