Search results for: relational contracts

Authors: Z. Hamed, K. Sa'deya, E. Abdelrasheed, I. Mahamid

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The construction industry is one of the main sectors that play basic role in the urban and rural development of a society. It provides important ingredients for the development of an economy. However, many construction projects experience extensive cost overrun. This study was conducted to identify the causes of cost overrun in building construction contracts in Al Madinah, Saudi Arabia and test the importance of these causes from contractors' perspective. To achieve the study objectives, a questionnaire survey was conducted to identify and rank cost overrun causes from the perspective of contractors. The findings found that the top five cost overrun causes are: lack of experience in the line of work, lack of labor productivity, delay in payments, rework and material waste. It is hoped that the findings will guide efforts to improve the performance of construction industry in Saudi Arabia and other developing countries.

Keywords: building, contractor, cost increase, cost overrun

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Authors: Ibtissam Mharzi Alaoui, Camélia Sehaqui

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The success of a bank depends upon its effective risk management. With the growing complexity and diversity of financial products and services, as well as the accelerating pace of globalization over the past decade, risk management is becoming increasingly difficult. thus, all measurement and monitoring functions must be much more vigorous, relevant and adequate. The Shariah non-compliance risk is specific aspect of Islamic finance which ipso facto, deserves particular attention. It affects the validity of all Islamic financial contracts and it turns out to be likely to result in considerable losses on the overall Islamic financial institutions (IFIs). The purpose of this paper is to review the theoretical literature on Shariah non-compliance risk in order to give a clearer understanding of its sources, causes and consequences. Our intention through this work is to bring added value to the Islamic finance industry all over the world. The findings provide a useful reference work for the Islamic banks in structuring (or restructuring) of their own system of shariah risk management and internal control.

Keywords: Shariah non-compliance, risk management, financial products, Islamic finance.

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Authors: Mehmood Faisal

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In this globalization era, the supply chain management has acquired strategic importance in diverse business environments. In the current highly competitive business environment, the success of any business considerably depends on the efficiency of the supply chain. The importance of petroleum industry cannot be avoided in the global market; however, supply chain management in the petroleum industry is facing various challenges, particularly in the logistics area. These logistical challenges have a main influence on the cost of crude oil; therefore, the opportunities to save cost in logistics still do exist. The large oil producing companies are undertaking future contracts through 'swaps or options' practice that saves their millions of dollars. The objective of this paper is to throw light on the supply chain challenges and opportunities in the oil industry and on swap practices which are widely employed by large oil producing companies around the world, such as Chevron Corporation, Saudi Arabian Oil Company, BP and Exxon Mobil.

Keywords: logistics, oil industry, swap practice, supply chain management

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Authors: František Včelař, Zuzana Pátíková

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Recently a new type of very general relational structures, the so called (L-)complete propelattices, was introduced. These significantly generalize complete lattices and completely lattice L-ordered sets, because they do not assume the technically very strong property of transitivity. For these structures also the main part of the original Tarski’s fixed point theorem holds for (L-fuzzy) isotone maps, i.e., the part which concerns the existence of fixed points and the structure of their set. In this paper, fundamental properties of (L-)complete propelattices are recalled and the so called L-fuzzy relatively isotone maps are introduced. For these maps it is proved that they also have fixed points in L-complete propelattices, even if their set does not have to be of an awaited analogous structure of a complete propelattice.

Keywords: fixed point, L-complete propelattice, L-fuzzy (relatively) isotone map, residuated lattice, transitivity

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Authors: Robin Molinier

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Industrial symbiosis (I.S) deals with the exchange of waste materials, fatal energy and utilities as resources for production. While it brings environmental benefits from resource conservation its economic profitability is one of the main barriers to its implementation. I.S involves several actors with their own objectives and resources so that each actor must be satisfied by ex-ante arrangements to commit toward investments and transactions. Regarding I.S Transaction cost economics helps to identify hybrid forms of governance for transactions governance due to I.S projects specificities induced by the need for customization (asset specificity, non-homogeneity). Thus we propose a framework to analyze the best contractual practices tailored to address I.S specific risks that we identified as threefold (load profiles and quality mismatch, value fluctuations). Schemes from cooperative game theory and contracting management are integrated to analyze value flows between actors. Contractual guidelines are then proposed to address the identified risks and to split the value for a set of I.S archetypes drawn from actual experiences.

Keywords: contracts, economics, industrial symbiosis, risks

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Authors: Natina Yaduma, Allan Williams, Sangwon Park, Andrew Lockwood

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This paper analyses flexible working, and the employment of migrants, as determinants of productivity in hotels. Controlling for the institutional environment, by focussing on a single firm, it analyses data on actual hours worked and outputs, on a weekly basis, over an 8 year period. The unusually disaggregated data allows the paper to examine not only inter-establishment, but also intra-establishment (departmental) variations in productivity, and to compare financial versus physical measures. The findings emphasise the complexity of productivity findings, sometimes contrasting evidence for establishments versus departments, and the positive but scale and measure-specific contributions of both the employment of migrants and flexible working, especially the utilisation of zero hours contracts.

Keywords: labour productivity, physical productivity, financial productivity, numerical flexibility, functional flexibility, migrant employment, cero-contract employment

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Authors: M. Pellerone, S. G. Razza, L. Miano, A. Miccichè, M. Adamo

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The teacher’s attitude plays a decisive role in promoting the development of the non-native or disabled student and counteracting hypothetical negative attitudes and prejudice towards those who are “different”.The objective of the present research is to measure the relationship between teachers’ prejudices towards disabled and/or immigrant students as predictors of teaching-learning strategies. A cross-sectional study involved 200 Italian female teachers who completed an anamnestic questionnaire, the Assessment Teaching Scale, the Italian Modern and Classical Prejudices Scale towards people with ID, and the Pettigrew and Meertens’ Blatant Subtle Prejudice Scale. Confirming research hypotheses, data underlines the predictive role of prejudice on teaching strategies, and in particular on the socio-emotional and communicative-relational dimensions. Results underline that general training appears necessary, especially for younger generations of teachers.

Keywords: disabled students, immigrant students, instructional competence, prejudice, teachers

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Authors: Shahin Zanbaghi, Saeed Samet

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The internet has transformed the way we shop. Previously, most of our purchases came in the form of shopping trips to a nearby store. Now, it’s as easy as clicking a mouse. But with great convenience comes great responsibility. We have to be constantly vigilant about our personal information. In this work, our proposed approach is to encrypt the information printed on the physical packages, which include personal information in plain text, using a symmetric encryption algorithm; then, we store that encrypted information into a Blockchain network rather than storing them in companies or corporations centralized databases. We present, implement and assess a blockchain-based system using Ethereum smart contracts. We present detailed algorithms that explain the details of our smart contract. We present the security, cost, and performance analysis of the proposed method. Our work indicates that the proposed solution is economically attainable and provides data integrity, security, transparency, and data traceability.

Keywords: blockchain, Ethereum, smart contract, commit-reveal scheme

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Authors: Yuan-Jye Tseng, Jia-Shu Li

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To design a product with the given product requirement and design objective, there can be alternative ways to propose the detailed design specifications of the product. In the design modeling stage, alternative design cases with detailed specifications can be modeled to fulfill the product requirement and design objective. Therefore, in the design evaluation stage, it is required to perform an evaluation of the alternative design cases for deciding the final design. The purpose of this research is to develop a product evaluation model for evaluating the alternative design cases by integrated evaluating the criteria of functional design, Kansei design, and design for supply chain. The criteria in the functional design group include primary function, expansion function, improved function, and new function. The criteria in the Kansei group include geometric shape, dimension, surface finish, and layout. The criteria in the design for supply chain group include material, manufacturing process, assembly, and supply chain operation. From the point of view of value and cost, the criteria in the functional design group and Kansei design group represent the design value of the product. The criteria in the design for supply chain group represent the supply chain and manufacturing cost of the product. It is required to evaluate the design value and the supply chain cost to determine the final design. For the purpose of evaluating the criteria in the three criteria groups, a fuzzy analytic network process (FANP) method is presented to evaluate a weighted index by calculating the total relational values among the three groups. A method using the technique for order preference by similarity to ideal solution (TOPSIS) is used to compare and rank the design alternative cases according to the weighted index using the total relational values of the criteria. The final decision of a design case can be determined by using the ordered ranking. For example, the design case with the top ranking can be selected as the final design case. Based on the criteria in the evaluation, the design objective can be achieved with a combined and weighted effect of the design value and manufacturing cost. An example product is demonstrated and illustrated in the presentation. It shows that the design evaluation model is useful for integrated evaluation of functional design, Kansei design, and design for supply chain to determine the best design case and achieve the design objective.

Keywords: design for supply chain, design evaluation, functional design, Kansei design, fuzzy analytic network process, technique for order preference by similarity to ideal solution

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Authors: Malika Yaici, Anis Oussayah, Mohamed Ahmed Takerrabet

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Security of context-aware ubiquitous systems is paramount, and authentication plays an important aspect in cloud computing and ubiquitous computing. Trust management has been identified as vital component for establishing and maintaining successful relational exchanges between trading partners in cloud and ubiquitous systems. Establishing trust is the way to build good relationship with both client and provider which positive activates will increase trust level, otherwise destroy trust immediately. We propose a new context-aware authentication system using a trust management system between client and server, and between servers, a trust which induces partnership, thus to a close cooperation between these servers. We defined the rules (algorithms), as well as the formulas to manage and calculate the trusting degrees depending on context, in order to uniquely authenticate a user, thus a single sign-on, and to provide him better services.

Keywords: ubiquitous computing, authentication, context-awareness, trust management

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

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

Keywords: horizontal integration, value creation, sustainable supply chain

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Authors: A. M. Andriano, M. Lombardi, A. Lopolito, M. Prosperi, A. Stasi, E. Iannuzzi

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In according to the scientific debate on the definition of Social Innovation (SI), the present paper identifies SI as new ideas (products, services, and models) that simultaneously meet social needs and create new social relationships or collaborations. This concept offers important tools to unravel the difficult condition for the agricultural sector in marginalized areas, characterized by the abandonment of activities, low level of farmer education, and low generational renewal, hampering new territorial strategies addressed at and integrated and sustainable development. Models of SI in agriculture, starting from bottom up approach or from the community, are considered to represent the driving force of an ecological and digital revolution. A system based on SI may be able to grasp and satisfy individual and social needs and to promote new forms of entrepreneurship. In this context, Vazapp ('Go Hoeing') is an emerging SI model in southern Italy that promotes solutions for satisfying needs of farmers and facilitates their relationships (creation of network). The Vazapp’s initiative, considered in this study, is the Contadinners ('Farmer’s dinners'), a dinner held at farmer’s house where stakeholders living in the surrounding area know each other and are able to build a network for possible future professional collaborations. The aim of the paper is to identify the evolution of farmers’ relationships, both quantitatively and qualitatively, because of the Contadinner’s initiative organized by Vazapp. To this end, the study adopts the Social Network Analysis (SNA) methodology by using UCINET (Version 6.667) software to analyze the relational structure. Data collection was realized through a questionnaire distributed to 387 participants in the twenty 'Contadinners', held from February 2016 to June 2018. The response rate to the survey was about 50% of farmers. The elaboration data was focused on different aspects, such as: a) the measurement of relational reciprocity among the farmers using the symmetrize method of answers; b) the measurement of the answer reliability using the dichotomize method; c) the description of evolution of social capital using the cohesion method; d) the clustering of the Contadinners' participants in followers and not-followers of Vazapp to evaluate its impact on the local social capital. The results concern the effectiveness of this initiative in generating trustworthy relationships within the rural area of southern Italy, typically affected by individualism and mistrust. The number of relationships represents the quantitative indicator to define the dimension of the network development; while the typologies of relationships (from simple friendship to formal collaborations, for branding new cooperation initiatives) represents the qualitative indicator that offers a diversified perspective of the network impact. From the analysis carried out, Vazapp’s initiative represents surely a virtuous SI model to catalyze the relationships within the rural areas and to develop entrepreneurship based on the real needs of the community.

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Authors: Micaella L. Gonzales, Joanne C. Alonzo, Nizza E. Regalado, Rosary L. Valenzuela

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Culture functions as a lens through which individuals experience universal phenomena. This study explored Filipino mothers’ experience of miscarriage, or having been ‘nakunan’ - a colloquial term for fetal death. In addition, this study also aims to establish an understanding of the concept in Filipino society. Semi-structured in-depth interviews were conducted with 13 Filipino women who had experienced miscarriage. Following thematic analysis, there emerged several themes within certain aspects (i.e. physical, psychological, inter-relational) of a woman’s life closely intertwined the experience, further reiterating the multidimensionality of the experience. Results show that Filipino values of family-centeredness and religiosity played a big part in women’s experiences. Family-centeredness was seen interwoven in the women’s self-concept and interrelations with others following her miscarriage, and religiosity came into play in the women’s personal definitions, perceived causes, and coping with what had happened to them.

Keywords: bereavement, fetal death, Filipino mothers, miscarriage

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Authors: Abderrahmen Aloulou, Younes Boujelbene

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The current paper displays a new method of extracting information content from options prices by eliminating biases caused by daily variation of contract maturity. Based on Kernel regression tool, this non-parametric technique serves to obtain a spectrum of interpolated options with constant maturity horizons from negotiated optional contracts on the S&P TSX 60 index. This method makes it plausible to compare daily risk neutral densities from which extracting time continuous indicators allows the detection traders attitudes’ evolution, such as, belief homogeneity, asymmetry and extreme Risk Perception. Our findings indicate that the applied method contribute to develop effective trading strategies and to adjust monetary policies through controlling trader’s reactions to economic and monetary news.

Keywords: risk neutral densities, kernel, constant maturity horizons, homogeneity, asymmetry and extreme risk perception

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Authors: Badiossadat Hassanpour, Reza Sirjani, Nangkuala Utaberta

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The avant-garde educational systems are striving to find a life long learning methods. Different fields and majors have test variety of proposed models, and found their difficulties and strengths. Architecture as a critical stage of education due to its characteristics which are learning by doing and critique based education and evaluation is out of this study procedure. Learning contracts is a new alternative form of evaluation of students’ achievements, while it acts as agreement about learning goals. Obtained results from studies in different fields which confirm its positive impact on students' learning in those fields and positively affected students' motivation and confidence in meeting their own learning needs, prompted us to implement this model in architecture design studio. In this implemented contract to the studio, students were asked to use the existing possibility of contract to have self assessment and examine their professional development to identify whether they are deficient or they would like to develop more expertise. The evidences of this research as well indicate that students feel positive about the learning contract and see it accommodating their individual learning needs.

Keywords: contract (LC), architecture design studio, education, student-centered learning

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Authors: Nor Sahida Ibrahim, Ruhaila Maskat, Aishah Ahmad

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Almost all tertiary-level students will undergo some form of training in organisations prior to their graduation. This practice provides the necessary exposure and experience to allow students to cope with actual working environment and culture in the future. Nevertheless, a particular degree of “matching” between what is expected and what can be offered between students and organisations underpins how effective and enriching the experience is. This matching of students and organisations is challenging when preferences from both parties must be satisfied. This work developed a web-based system, namely the OrganisationMatcher, which leverage on the use of preference weights to score each organisation and rank them based on “suitability”. OrganisationMatcher has been implemented on a relational database, designed using object-oriented methods and developed using PHP programming language for browser front-end access. We outline the challenges and limitations of our system and discuss future improvements to the system, specifically in the utilisation of intelligent methods.

Keywords: student industrial placement, information system, web-based, ranking

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Authors: Linda Ana-Maria Ungureanu

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As space exploration opens to new actors, we are faced with the interesting question of regulating more complex structures that enable private experiments. From intellectual property implications to private and public law, there is a multitude of factors and legal structures that need to be taken into consideration when opening space, and these structures need to be harmonized with the International Space Treaties governing space exploration. In this sense, this article presents an overview of the legal and contractual framework applicable to private experiments conducted in space and/or in relation to off-world environments. Additionally, the article analyses the manner in which national space agencies regulate agreements concluded with private actors and research institutions. Finally, the article sets a series of de lege ferenda proposals for the regulation of general research and development rules and intellectual property matters that are connected to experiments and research conducted in space and/or concerning off-world environments.

Keywords: private space, intellectual property, contracts, ESA guidelines, EU legislation, Intellectual property law, international IP treaties

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Authors: Antonio Abatemarco, Francesca Stroffolini

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In the economic literature, Rawls’ Theory of Justice is usually interpreted in a two-stage setting, where a priority to the worst off individual is imposed as a distributive value judgment. In this paper, instead, we model Rawls’ Theory in a three-stage setting, that is, a separating line is drawn between the original position, the educational stage, and the working life. Hence, in this paper, we challenge the common interpretation of Rawls’ Theory of Justice as Fairness by showing that this Theory goes well beyond the definition of a distributive value judgment, in such a way as to embrace efficiency issues as well. In our model, inequalities are shown to be permitted as far as they stimulate a greater effort in education in the population, and so economic growth. To our knowledge, this is the only possibility for the inequality to be ‘bought’ by both the most-, and above all, the least-advantaged individual as suggested by the Difference Principle. Finally, by recalling the old tradition of ‘universal ex-post efficiency’, we show that a unique optimal social contract does not exist behind the veil of ignorance; more precisely, the sole set of potentially Rawls-optimal social contracts can be identified a priori, and partial justice orderings derived accordingly.

Keywords: justice, Rawls, inequality, social contract

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Authors: Sakinah Idris, Gabrine Jagersma, Bjorn Jaime Van Pelt, Kirstin Greaves-Lord

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Background: The PEERS (Program for the Education and Enrichment of Relational Skills) intervention can be considered a well-established, evidence-based intervention in the USA. However, testing the efficacy of cultural adaptations of PEERS is still ongoing. More and more, the involvement of all stakeholders in the development and evaluation of interventions is acknowledged as crucial for the longer term implementation of interventions across settings. Therefore, in the current project, teens with ASD (Autism Spectrum Disorder), their neurotypical peers, parents, teachers, as well as clinicians were involved in the development and evaluation of the Dutch version of PEERS. Objectives: The current presentation covers (1) the formative phase and (2) the preliminary adaptation test phase of the cultural adaptation of evidence-based interventions. In the formative phase, we aim to describe the process of adaptation of the PEERS program to the Dutch culture and care system. In the preliminary adaptation phase, we will present results from the preliminary adaptation test among 32 adolescents with ASD. Methods: In phase 1, a group discussion on common vocabulary was conducted among 70 teenagers (and their teachers) from special and regular education aged 12-18 years old. This inventory concerned 14 key constructs from PEERS, e.g., areas of interests, locations for making friends, common peer groups and crowds inside and outside of school, activities with friends, commonly used ways for electronic communication, ways for handling disagreements, and common teasing comebacks. Also, 15 clinicians were involved in the translation and cultural adaptation process. The translation and cultural adaptation process were guided by the research team, and who included input and feedback from all stakeholders through an iterative feedback incorporation procedure. In phase 2, The parent-reported Social Responsiveness Scale (SRS), the Test of Adolescent Social Skills Knowledge (TASSK), and the Quality of Socialization Questionnaire (QSQ) were assessed pre- and post-intervention to evaluate potential treatment outcome. Results: The most striking cultural adaptation - reflecting the standpoints of all stakeholders - concerned the strategies for handling rumors and gossip, which were suggested to be taught using a similar approach as the teasing comebacks, more in line with ‘down-to-earth’ Dutch standards. The preliminary testing of this adapted version indicated that the adolescents with ASD significantly improved their social knowledge (TASSK; t₃₁ = -10.9, p < .01), social experience (QSQ-Parent; t₃₁ = -4.2, p < .01 and QSQ-Adolescent; t₃₂ = -3.8, p < .01), and in parent-reported social responsiveness (SRS; t₃₃ = 3.9, p < .01). In addition, subjective evaluations of teens with ASD, their parents and clinicians were positive. Conclusions: In order to further scrutinize the effectiveness of the Dutch version of the PEERS intervention, we recommended performing a larger scale randomized control trial (RCT) design, for which we provide several methodological considerations.

Keywords: cultural adaptation, PEERS, preliminary testing, translation

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Authors: Vahid Bairami Rad

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Extracting knowledge from spatial data like GIS data is important to reduce the data and extract information. Therefore, the development of new techniques and tools that support the human in transforming data into useful knowledge has been the focus of the relatively new and interdisciplinary research area ‘knowledge discovery in databases’. Thus, we introduce a set of database primitives or basic operations for spatial data mining which are sufficient to express most of the spatial data mining algorithms from the literature. This approach has several advantages. Similar to the relational standard language SQL, the use of standard primitives will speed-up the development of new data mining algorithms and will also make them more portable. We introduced a database-oriented framework for spatial data mining which is based on the concepts of neighborhood graphs and paths. A small set of basic operations on these graphs and paths were defined as database primitives for spatial data mining. Furthermore, techniques to efficiently support the database primitives by a commercial DBMS were presented.

Keywords: spatial data base, knowledge discovery database, data mining, spatial relationship, predictive data mining

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Authors: E. Harrer, M. Mauerhofer, T. Werginz

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As a result of intensive competition, the building sector is suffering from a high degree of rivalry. Furthermore, there can be observed an unbalanced distribution of project risks. Clients are aimed to shift their own risks into the sphere of the constructors or planners. The consequence of this is that the number of conflicts between the involved parties is inordinately high or even increasing; an alternative approach to counter on that developments are cooperative project forms in the construction sector. This research compares conventional contract models and models with partnering agreements to examine the influence on project risks by an early integration of the involved parties. The goal is to show up deviations in different project stages from the design phase to the project transfer phase. These deviations are evaluated by a survey of experts from the three spheres: clients, contractors and planners. By rating the influence of the participants on specific risk factors it is possible to identify factors which are relevant for a smooth project execution.

Keywords: building projects, contract models, partnering, project risks

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Authors: Barkha Ramteke, Sonali Ridhorkar

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An election is an important event in all countries. Traditional voting has several drawbacks, including the expense of time and effort required for tallying and counting results, the cost of papers, arrangements, and everything else required to complete a voting process. Many countries are now considering online e-voting systems, but the traditional e-voting systems suffer a lack of trust. It is not known if a vote is counted correctly, tampered or not. A lack of transparency means that the voter has no assurance that his or her vote will be counted as they voted in elections. Electronic voting systems are increasingly using blockchain technology as an underlying storage mechanism to make the voting process more transparent and assure data immutability as blockchain technology grows in popularity. The transparent feature, on the other hand, may reveal critical information about applicants because all system users have the same entitlement to their data. Furthermore, because of blockchain's pseudo-anonymity, voters' privacy will be revealed, and third parties involved in the voting process, such as registration institutions, will be able to tamper with data. To overcome these difficulties, we apply Ethereum smart contracts into blockchain-based voting systems.

Keywords: blockchain, AMV chain, electronic voting, decentralized

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Authors: Cesar Hernández, Diego Giral, Ingrid Páez

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This article proposes a hybrid algorithm for spectrum allocation in cognitive radio networks based on the algorithms Analytical Hierarchical Process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) to improve the performance of the spectrum mobility of secondary users in cognitive radio networks. To calculate the level of performance of the proposed algorithm a comparative analysis between the proposed AHP-TOPSIS, Grey Relational Analysis (GRA) and Multiplicative Exponent Weighting (MEW) algorithm is performed. Four evaluation metrics is used. These metrics are the accumulative average of failed handoffs, the accumulative average of handoffs performed, the accumulative average of transmission bandwidth, and the accumulative average of the transmission delay. The results of the comparison show that AHP-TOPSIS Algorithm provides 2.4 times better performance compared to a GRA Algorithm and, 1.5 times better than the MEW Algorithm.

Keywords: cognitive radio, decision making, hybrid algorithm, spectrum handoff, wireless networks

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Authors: T. Ganesan, M. S. Aris, I. Elamvazuthi, Momen Kamal Tageldeen

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Terms set in power purchase agreements (PPA) challenge power utility companies in balancing between the returns (from maximizing power production) and securing long term supply contracts at capped production. The production limitation set in the PPA has driven efforts to maximize profits through efficient and economic power production. In this paper, a combined industrial-scale gas turbine (GT) - absorption chiller (AC) system is considered to cool the GT air intake for reducing the plant’s heat rate (HR). This GT-AC system is optimized while considering power output limitations imposed by the PPA. In addition, the proposed formulation accounts for uncertainties in the ambient temperature using Type-2 fuzzy programming. Using the enhanced chaotic differential evolution (CEDE), the Pareto frontier was constructed and the optimization results are analyzed in detail.

Keywords: absorption chillers (AC), turbine inlet air cooling (TIC), power purchase agreement (PPA), multiobjective optimization, type-2 fuzzy programming, chaotic differential evolution (CDDE)

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Authors: Petra Buzkova, Milos Kopa

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Reliability of the credit default swap market had been questioned repeatedly during the EMU debt crisis. The article examines whether this development influenced sovereign EMU CDS prices in general. We regress the CDS market price on a model risk neutral CDS price obtained from an adopted reduced form valuation model in the 2009-2013 period. We look for a break point in the single-equation and multi-equation econometric models in order to show the changes in relations between CDS market and model prices. Our results differ according to the risk profile of a country. We find that in the case of riskier countries, the relationship between the market and model price changed when market participants started to question the ability of CDS contracts to protect their buyers. Specifically, it weakened after the change. In the case of less risky countries, the change happened earlier and the effect of a weakened relationship is not observed.

Keywords: chow stability test, credit default swap, debt crisis, reduced form valuation model, seemingly unrelated regression

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Authors: Neil Michael Walsh, Angelique Lombarts

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The authors propose that hospitality is ‘made’ (constituted and performed) in the encounters on the Silk-Routes. Inspired with an initial Derridean perspective on hospitality (the conditional/unconditional) and methodologically underpinned with a Delueuzian relational-rhizomatic approach, the authors contend that hospitality is (re)produced in the encounters of self/other, east/west (among others). Thus, in the spirit of performativity and using the temporal-spatial conduit of the Silk Routes (the sites of ethical, cultural, economic, and material interaction of such exchange), the authors concur that hospitality is produced at the moment in which it is performed. Key themes engaged as units of analysis become welcome, reception, hostility, (and so on) which the authors engage and examine –as they unfold- in the narratives and accounts and material legacies of those who travelled the Silk Routes between the 2nd and 18th Centuries. The preliminary results suggest that these earlier performative moments in hospitality-making on the silk routes continue to resonate and ‘form’ the hospitalities of today. Indeed, these acts of hospitality continue to reconstitute and are never a final state of affairs.

Keywords: hospitality-genealogy, interactions, hospitality-making, Silk-Routes, rhizome, relationality

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Authors: Robin Gengan

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The film industry is one of the most impactful creative sectors in modern social influence. It has relational effects on knowledge and psychological impact on the youth. Much focus in current filmmaking is either in fictional drama or documentary. The purpose of this article is to combine the two into a third genre; edutainment in which film is approached as a visual educational text. Similar to language text, cinema can be applied to semiotic reading. Film interpretation is a phenomenological order, unique to each viewer. There are cultural norms and tropes that are more universal between the practice of semiotic reading, symbolism and interpretation. Film semiotics and narration are a juxtaposition of moving visual texts and sound to create meaning through film codes and social conventions to form an educational narrative that makes the medium effective for learning and teaching. The aim of this article is to explore and set precedence for more creative building-blocks into future research on edutainment cinema. This will further stimulate and benefit innovative entrepreneurial filmmaking and future academic research.

Keywords: cinema, edutainment, epistemology, multimodality, semiotics, structuralism

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Authors: Craig M. Allen

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Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs

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Authors: Muhammet Dursun Kaya, Hasan Asil

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In recent years, different methods have been proposed to optimize question processing in database. Although different methods have been proposed to optimize the query, but the problem which exists here is that most of these methods destroy the query execution plan after executing the query. This research attempts to solve the above problem by using a combination of methods of communicating with the database (the present questions in the programming code and using store procedures) and making query processing adaptive in database, and proposing a new approach for optimization of query processing by introducing the idea of dynamic store procedures. This research creates dynamic store procedures in the database according to the proposed algorithm. This method has been tested on applied software and results shows a significant improvement in reducing the query processing time and also reducing the workload of DBMS. Other advantages of this algorithm include: making the programming environment a single environment, eliminating the parametric limitations of the stored procedures in the database, making the stored procedures in the database dynamic, etc.

Keywords: relational database, agent, query processing, adaptable, communication with the database

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Authors: Mohammad E. Nikoofal, Mehmet Gumus

Abstract:

Besides the many benefits of outsourcing, firms are still concerned about the lack of critical information regarding both the risk levels and actions of their suppliers that are just a few links away. In this paper, we study the effectiveness of audit for the manufacturer in managing her supplier’s process improvement effort when the supplier is privately informed about his disruption risk and actions. By comparing the agency costs associated with the optimal menu of contracts with and without audit, we completely characterize the value of audit for all the cases from the perspectives of both manufacturer, and supplier as well as total supply chain. First, the analysis of value of audit from the manufacturer’s perspective shows that she can strictly benefit from auditing her supplier’s actions. To the best of our knowledge, this result has not been documented before in the principal-agent literature under a standard setting where the agent is assumed to be risk-neutral and not protected by limited liability constraints. Second, we find that not only the manufacturer but also the supplier can strictly benefit from audit. Third, the audit enables the manufacturer to customize her contract offerings based on the reliability of the supplier. Finally, by analyzing the impact of problem parameters on the value of audit, we identify the conditions under which an audit would be beneficial for individual supply chain parties as well as total supply chain.

Keywords: supply disruption, adverse selection, moral hazard incentives, audit

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