World Academy of Science, Engineering and Technology

Authors: Pongsiri K.

Abstract:

This research aimed to study the market feasibility for new brand coffee house, the case study of Thailand.. This study is a mixed methods research combining quantitative research and the qualitative research. Primary data 350 sets of questionnaires were distributed, and the high quality completed questionnaires of 320 sets returned. Research samples are identified as customers’ of Hi-end department stores in Thailand. The sources of secondary data were critical selected from highly reliable sources, both from public and private sectors. The results were used to classify the customer group into two main groups, the younger than 25 and the older than 25years old. Results of the younger group, are give priority to the dimension of coffee house and its services dimension more than others, then branding dimension and the product dimension respectively. On the other hand, the older group give the difference result as they rate the important of the branding, coffee house and its services, then the product respectively. Coffee consuming is not just the trend but it has become part of people lifestyle. And the new cultures also created by the wise businessman. Coffee was long produced and consumed in Thailand. But it is surprisingly the hi-end brand coffee houses in Thai market are mostly imported brands. The café business possibility for Thai brand coffee house in Thai market were discussed in the paper.

Keywords: Coffee House, Café, Coffee Consuming and new entry branding, market feasibility

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Authors: Supattra Kanchanopast

Abstract:

The purpose of this paper was to study motivation factors affecting job performance effectiveness. This paper drew upon data collected from an Internal Audit Staffs of Internal Audit Line of Head Office of Krung Thai Public Company Limited. Statistics used included frequency, percentage, mean and standard deviation, t-test, and one-way ANOVA test. The finding revealed that the majority of the respondents were female of 46 years of age and over, married and live together, hold a bachelor degree, with an average monthly income over 70,001 Baht. The majority of respondents had over 15 years of work experience. They generally had high working motivation as well as high job performance effectiveness. The hypotheses testing disclosed that employees with different working status had different level of job performance effectiveness at a 0.01 level of significance. Working motivation factors had an effect on job performance in the same direction with high level. Individual working motivation included working completion, reorganization, working progression, working characteristic, opportunity, responsibility, management policy, supervision, relationship with their superior, relationship with co-worker, working position, working stability, safety, privacy, working conditions, and payment. All of these factors related to job performance effectiveness in the same direction with medium level.

Keywords: Internal Audit Staffs, Job Performance Effectiveness, Working Motivation.

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Authors: Mathias Rossi, Silna Borter, Marie Sansonnens

Abstract:

Entrepreneurs are important for national labour markets and economies in that they contribute significantly to economic growth as well as provide the majority of jobs and create new ones. According to the Global Entrepreneurship Monitor’s “Report on Women and Entrepreneurship”, investment in women’s entrepreneurship is an important way to exponentially increase the impact of new venture creation finding ways to empower women’s participation and success in entrepreneurship are critical for more sustainable and successful economic development. Our results confirm that they are still differences between men and women entrepreneurs The reasons seems to be the lack of specific business skills, the less extensive social network, and the lack of identification patterns among women. Those differences can be explained by the fact that women still have fewer opportunities to make a career. If this is correct, we can predict an increasing proportion of women among entrepreneurs in the next years. Concerning the development of a favorable environment for developing and enhancing women entrepreneurship activities, our results show the insertion in a network and the role of a model doubtless represent elements determining in the choice to launch an entrepreneurship activity, as well as a precious resource for the success of her company.

Keywords: Women entrepreneurship, entrepreneurship motivation, entrepreneurial behavior.

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Authors: Prateep Wajeetongratana

Abstract:

The purpose of this research was to study the influence of learning efficiency on local accountants’ job performance effectiveness. This paper drew upon the survey data collected from 335 local accountants survey conducted at Nakhon Ratchasima province, Thailand. The statistics utilized in this paper included percentage, mean, standard deviation, and regression analysis. The findings revealed that the majority of samples were between 31-40 years old, married, held an undergraduate degree, and had an average income between 10,000-15,000 baht. The majority of respondents had less than five years of accounting experience and worked for local administrations. The overall learning efficiency score was in the highest level while the local accountants’ job performance effectiveness score was also in the high level. The hypothesis testing’s result disclosed that learning efficiency factors which were knowledge, Skill, and Attitude had an influence on local accountants’ job the performance effectiveness.

Keywords: Accountants, Leaning Efficiency, Performance Effectiveness.

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Authors: Siri-orn Champatong

Abstract:

The purpose of this research was to study five vital factors related to employees’ job performance. A total of 250 respondents were sampled from employees who worked at a public warehouse organization, Bangkok, Thailand. Samples were divided into two groups according to their work experience. The average working experience was about 9 years for group one and 28 years for group two. A questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, t-test analysis, one way ANOVA, and Pearson Product-moment correlation coefficient. Data were analyzed by using Statistical Package for the Social Sciences. The findings disclosed that the majority of respondents were female between 23- 31 years old, single, and hold an undergraduate degree. The average income of respondents was less than 30,900 baht. The findings also revealed that the factors of organization chart awareness, job process and technology, internal environment, employee loyalty, and policy and management were ranked as medium level. The hypotheses testing revealed that difference in gender, age, and position had differences in terms of the awareness of organization chart, job process and technology, internal environment, employee loyalty, and policy and management in the same direction with low level.

Keywords: Employees, Factors Related, Job Performance, Public Warehouse Organization.

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Authors: Tanit P ruktara

Abstract:

This research aims to study the preferable tourism and the elements of choosing tourist destination from domestic tourist in Bangkok and the nearby areas in Thailand.The data were collected by using 1249 set of questionnaires, in mid-August 2012. The result illustrates that religious destinations are the most preferable places for the tourist. The average expense per travel is approximately 47 USD a time. Travellers travel based on the advertisement in the television and internet and their decisions is based on the reputation of the destinations. The result on a place dimension demonstrates the neatness and well managed location play a crucial role on tourist destination. Gender, age, marriage status and their origins are affecting their spending and travelling behaviour. The researcher reckon that providing the area of arcade, selling the souvenir and promoting tourism among a young professional group would be an important key follow the income distribution policy, including managing the destination to welcome the family group, which the result is to identified as the highest spending.

Keywords: Domestic Tourist, Tourism, Tourist Behaviours, Tourism Place.

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Authors: P. Waiyawuththanapoom, P. Tirastittam

Abstract:

Thailand is the agriculture country as the weather and geography are suitable for agriculture environment. In 2011, the quantity of exported fresh vegetable was 126,069 tons which valued 117.1 million US dollars. Although the fresh vegetable has a high potential in exporting, there also have a lack of knowledge such as chemical usage, land usage, marketing and also the transportation and logistics. Nakorn Pathom province is the area which the farmer and manufacturer of fresh vegetable located. The objectives of this study are to study the basic information of the local fresh vegetable farmers in Nakorn Pathom province, to study the factor which effects the management of the fresh vegetable supply chain in Nakorn Pathom province and to study the problems and obstacle of the fresh vegetable supply chain in Nakorn Pathom province. This study is limited to the flow of the Nakorn Pathom province fresh vegetable from the farmers to the country which import the vegetable from Thailand. The populations of this study are 100 local farmers in Nakorn Pathom province. The result of this study shows that the key process of the fresh vegetable supply chain is in the supply sourcing process and manufacturing process.

Keywords: Exporting, Fresh Vegetable, Nakorn Pathom Province, Supply Chain.

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Authors: Bundit Pungnirund

Abstract:

The objective of this research was to study the influence of marketing mix on customers purchasing behavior. A total of 397 respondents were collected from customers who were the patronages of the Chatuchak Plaza market. A questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. Data were analyzed by using Statistical Package for the Social Sciences. The findings revealed that the majority of respondents were male with the age between 25-34 years old, hold undergraduate degree, married and stay together. The average income of respondents was between 10,001-20,000 baht. In terms of occupation, the majority worked for private companies. The research analysis disclosed that there were three variables of marketing mix which included price (X2), place (X3), and product (X1) which had an influence on the frequency of customer purchasing. These three variables can predict a purchase about 30 percent of the time by using the equation; Y1 = 6.851 + .921(X2) + .949(X3) + .591(X1). It also found that in terms of marketing mixed, there were two variables had an influence on the amount of customer purchasing which were physical characteristic (X6), and the process (X7). These two variables are 17 percent predictive of a purchasing by using the equation: Y2 = 2276.88 + 2980.97(X6) + 2188.09(X7).

Keywords: Influences, Marketing Mixed, Purchasing Behavior.

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Authors: G. Rezai, Z. Mohamed, M. N. Shamsudin, M. Z. Zahran

Abstract:

The availability of broadband internet and increased access to computers has been instrumental in the rise of internet literacy in Malaysia. This development has led to the adoption of online shopping by many Malaysians. On another note, the Government has supported the development and production of local herbal products. This has resulted in an increase in the production and diversity of products by SMEs. The purpose of this study is to evaluate the influence of the Malaysian demographic factors and selected attitudinal characteristics in relation to the online purchasing of herbal products. In total, 1054 internet users were interviewed online and Chi-square analysis was used to determine the relationship between demographic variables and different aspects of online shopping for herbal products. The overall results show that the demographic variables such as age, gender, education level, income and ethnicity were significant when considering the online shopping antecedents of trust, quality of herbal products, perceived risks and perceived benefits.

Keywords: Demographic factors, herbal products, Malaysian consumers, online shopping, Chi-square analysis

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Authors: Somtop Keawchuer

Abstract:

The objective of this research was to study the factors related to the satisfaction of consumers who purchased a Toyota SUV Fortuner. This paper was a survey data which collected 400 samples from 65 car dealerships. The survey was conducted mainly in Bangkok, Thailand. The statistics utilized in this paper included percentage, mean, standard deviation and Pearson Product-Moment. The findings revealed that the majority of respondent were male with an undergraduate degree, married and live together. The average income of the respondents was between 20,001 - 30,000 baht. Most of them worked for private companies. Most of them had a family with the average of 4 members. The hypotheses testing revealed that the factors of marketing mix in terms of product (ability, gas mileage, and safety) were related to overall satisfaction at the medium level. However, the findings also revealed that the factors of marketing mix in terms of product (image), price, and promotion, and service center were related to the overall satisfaction at the low level.

Keywords: Car Consumers, Factors related, Overall Satisfaction.

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Authors: Maslinawati Mohamad, Intan Waheedah Othman

Abstract:

This paper studies the reputation and transparency of cooperative movement in Malaysia.

Keywords: Cooperative movement, reputation, transparency, web presence.

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Authors: Ahmet Ay, Hakan Acet, Ceyhun Can Özcan

Abstract:

Economic freedoms, most emphasized issue in the recent years, are considered to affect economic growth and performance via institutional structure. In this context, a model that includes Turkey and Middle East Countries, and where the effects of economic freedom on growth are examined, was formed. For the groups of countries determined, in the study carried out by using the dataset belonging the period of 2004 - 2009, between economic freedoms and growth, a negative relationship was observed as group. In the sense of individual effects, it was identified that there was a positive relationship in terms of some Middle East Countries and Turkey.

Keywords: Economic Freedoms, Economic Growth, Freedoms.

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Authors: NattapongTecharattanased

Abstract:

The purpose of this research was to study the factors that influenced the success of mobile phone entrepreneurs at Central Plaza. The sample group included 187 entrepreneurs at Central Plaza. A questionnaire was utilized as a tool to collect data. Statistics used in this research included frequency, percentage, mean, and standard deviation. Independent- sample t- test, one way ANOVA, and multiple regression analysis. Data were analyzed by using Statistical Package for the Social Sciences.The findings disclosed that the majority of respondents were male between 25-40 years old, and held an undergraduate degree. The average income of respondents was between 15,001-25,000 baht. The majority of respondents had less than 5 years of working experience. In terms of personality, the findings revealed that expression and agreement were ranked at the highest level. Whereas, emotion stability, consciousness, open to new experience were ranked at high. From the hypotheses testing, the findings revealed that different genders had different success in their mobile phone business with different income from the last 6 months. However, difference in age, income, level of education, and experience affected the success in terms of income, number of customers, and overall success of business. Moreover, the factors of personalities included expression, agreement, emotion stability, consciousness, open to new experience, and competitive strategy. From the findings, these factors were able to predict mobile phone business success at 66.9 percent.

Keywords: Entrepreneur, Influencing Factors, Success, Mobile Phone Business.

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Authors: Pisit Potjanajaruwit

Abstract:

The purpose of this research was to study the motivation factors to influence the decision to choose Thai Fabric. A multiple-stage sample was utilized to collect 400 samples from working women who had diverse occupations all over Thailand. This research was a quantitative analysis and questionnaire was used a tool to collect data. Descriptive statistics used in this research included percentage, average, and standard deviation and inferential statistics included hypothesis testing of one way ANOVA. The research findings revealed that demographic factors and social factors had an influence to the positive idea of wearing Thai fabric (F = 5.377, P value < 0.05). The respondents who had the age over 41 years old had a better positive idea of wearing Thai fabric than other groups. Moreover, the findings revealed that age had influenced the positive idea of wearing Thai fabric (F = 3.918, P value < 0.05). The respondents who had the age over 41 years old also had stronger believe that wearing Thai fabric to work and social gatherings are socially acceptable than other groups.

Keywords: Decision, Motivation, Influence, Thai Fabric.

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Authors: Anocha Kimkong

Abstract:

The purpose of this research was to study the behavior trend factors of consumers to roasted coffee at the petrol station on the route of Rangsit to Nakhon Nayok. The research drew upon data collected from the regular consumers of roasted coffee stands. The majority of respondents was male, 33-39 years old, and holding a bachelor degree. The majority of respondents considered themselves private business proprietors or entrepreneurs and had a monthly income of between 10,000-16,000 baht. The regular coffee consumers spent a minimum coffee expense of between 45 and 300 baht per day. These consumers also displayed good attitude and good motivation which can be ranked as very high. From the hypothesis testing of the behavior trend for the roasted coffee consumers in repurchasing coffee and recommended the coffee to others, the findings revealed that it had a significant correlation. Moreover, the overall attitude towards the marketing mix factors also had a significant correlation with the behavior trend consumers.

Keywords: Factors Related, Consuming Behaviour, Coffee Consumers.

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Authors: Alhaji M. H Conteh, Xiangbin Yan, Alfred V Gborie

Abstract:

The crop rice is the staple food of most Sierra Leone with no close substitute. However, its cultivation has been on its last legs over the years. The decline in the domestic rice cultivation has had vicious socio-economic implications such as hiking consumer prices, balance of payment dilemmas with debt burden. The objective of this study is thus, to assess the effect of the shift of rural labour towards non-agricultural sectors on rice cultivation. The tools utilized for analyzing the problem under consideration involved a thorough descriptive statistics and generalized linear model using OLS technique. Increased rural population was established positive and significant in affecting rice cultivation. Fertilizer utilization was insignificant in rice cultivation. For reducing the shift of rural labor force towards nonagricultural sectors, the government should make the agricultural sector very lucrative.

Keywords: Regression Model, Rice Cultivation, Rural Migration, Sierra Leone.

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Authors: Bella Llego

Abstract:

This study on “The relationship between human resource practices and Firm Performance is a speculative investigation research. The purpose of this research are (1) to provide and to understand of HRM history and current HR practices in the Philippines (2) to examine the extent of HRM practice among its Philippine firms effectively; (3) to investigate the relationship between HRM practice and firm performance in the Philippines. The survey was done to 233 companies in the Philippines. The questionnaire is divided into three parts a) to gathers information on the profile of respondent, b) to measures the extent to which human resource practices are being practiced in their organization c) to measure the organizations performance as perceived by human resource managers and top executives as compared with their competitors in the same industry. As a result an interesting finding was that almost 50 percent of firm performance is affected by the extent of implementation of HR practices in the firm. These results show that HR practices that are in line with the organization’s strategic goals are important for future performance.

Keywords: Economic Growth, Firm performance, Human Resource Practices, Management.

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Authors: Charawee Butbumrung

Abstract:

This paper aimed to study the factors that relate to working behavior of employees at Pakkred Municipality, Nonthaburi Province. A questionnaire was utilized as the tool in collecting information. Descriptive statistics included frequency, percentage, mean and standard deviation. Independent- sample t- test, analysis of variance and Pearson Correlation were also used. The findings of this research revealed that the majority of the respondents were female, between 25- 35 years old, married, with a Bachelor degree. The average monthly salary of respondents was between 8,001- 12,000 Baht, and having about 4-7 years of working experience. Regarding the overall working motivation factors, the findings showed that interrelationship, respect, and acceptance were ranked as highly important factors, whereas motivation, remunerations & welfare, career growth, and working conditions were ranked as moderately important factors. Also, overall working behavior was ranked as high. The hypotheses testing revealed that different genders had a different working behavior and had a different way of working as a team, which was significant at the 0.05 confidence level, Moreover, there was a difference among employees with different monthly salary in working behavior, problem- solving and decision making, which all were significant at the 0.05 confidence level. Employees with different years of working experience were found to have work working behavior both individual and as a team at the statistical significance level of 0.01 and 0.05. The result of testing the relationship between motivation in overall working revealed that interrelationship, respect and acceptance from others, career growth, and working conditions related to working behavior at a moderate level, while motivation in performing duties and remunerations and welfares related to working behavior towards the same direction at a low level, with a statistical significance of 0.01.

Keywords: Employees of Pakkred Municipality, Factors, Nonthaburi Province, Working Behavior.

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Authors: Soumia Ichoua

Abstract:

In this paper, we investigate the strategic stochastic air traffic flow management problem which seeks to balance airspace capacity and demand under weather disruptions. The goal is to reduce the need for myopic tactical decisions that do not account for probabilistic knowledge about the NAS near-future states. We present and discuss a scenario-based modeling approach based on a time-space stochastic process to depict weather disruption occurrences in the NAS. A solution framework is also proposed along with a distributed implementation aimed at overcoming scalability problems. Issues related to this implementation are also discussed.

Keywords: Air traffic management, sample average approximation, scenario-based approach, stochastic capacity.

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Authors: Chung-Hung Tsai

Abstract:

Global environmental changes lead to increased frequency and scale of natural disaster, Taiwan is under the influence of global warming and extreme weather. Therefore, the vulnerability was increased and variability and complexity of disasters is relatively enhanced. The purpose of this study is to consider the source and magnitude of hazard characteristics on the tourism industry. Using modern risk management concepts, integration of related domestic and international basic research, this goes beyond the Taiwan typhoon disaster risk assessment model and evaluation of loss. This loss evaluation index system considers the impact of extreme weather, in particular heavy rain on the tourism industry in Taiwan. Consider the extreme climate of the compound impact of disaster for the tourism industry; we try to make multi-hazard risk assessment model, strategies and suggestions. Related risk analysis results are expected to provide government department, the tourism industry asset owners, insurance companies and banking include tourist disaster risk necessary information to help its tourism industry for effective natural disaster risk management.

Keywords: Tourism industry, extreme weather, multi-hazard, vulnerability analysis, loss exceeding probability, risk management.

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Authors: Yiannis Smirlis, Dimitris K. Despotis

Abstract:

This study performs a comparative analysis of the 21 Greek Universities in terms of their public funding, awarded for covering their operating expenditure. First it introduces a DEA/MCDM model that allocates the fund into four expenditure factors in the most favorable way for each university. Then, it presents a common, consensual assessment model to reallocate the amounts, remaining in the same level of total public budget. From the analysis it derives that a number of universities cannot justify the public funding in terms of their size and operational workload. For them, the sufficient reduction of their public funding amount is estimated as a future target. Due to the lack of precise data for a number of expenditure criteria, the analysis is based on a mixed crisp-ordinal data set.

Keywords: Data envelopment analysis, Greek universities, operating expenditures, ordinal data.

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Authors: Wanida Suwunniponth

Abstract:

The objectives of this research paper were to study the expectation and satisfaction of tourists in five tourism service quality dimensions, namely, website quality, service ability, trust ability, customer empathy, and responsiveness to customer and also to study the influences of satisfaction affecting loyalty toward quality service of the online tourism enterprises located in Bangkok Thailand. This research utilized both quantitative and qualitative research methods. In terms of quantitative method, a questionnaire was used as a tool to collect data from 400 tourists who were using in online travel services. Statistics analysis included descriptive statistics, t-test and Multiple Regression Analysis. In terms of qualitative analysis, an in-depth interview and content analysis were used along with 10 individual management levels of e-commerce enterprises.

The results revealed that the respondents had higher expectations than their level of satisfaction in all five categories. However, the respondents were more satisfied with online travel services than without online service. The demographic factors such as gender and age had no influence on the level of satisfaction whereas the demographic factors of education, occupation, and income had influenced the level of satisfaction. The test results also indicated that the level of satisfaction from responsiveness to customer had the highest influence on the loyalty of tourists who used online travel. The level of satisfaction from customer empathy had the highest influence on the tourists to recommend others to use online travel services. Also, the level of satisfaction from service ability had the highest influence on tourists to take an actual trip.

Keywords: Satisfaction, Loyalty, Service Quality, Online Tourism Enterprises.

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Authors: A. Sokołowska

Abstract:

The study presents a brief and synthetic discussion of selected conclusions resulting from multidimensional and in-depth empirical studies. Its theoretical part presents the assumptions referring to social responsibility management from the perspective of the specific nature of small enterprise functioning, while the empirical part presents the selected dysfunctions and paradoxes in social responsibility management referring to this group of enterprises. The paper is summarized by a short list of the resulting recommendations.

Keywords: Small enterprise, social responsibility management, social responsibility of small enterprise.

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Authors: Batin Latif Aylak, Bernd Noche

Abstract:

Overhead conveyor systems satisfy by their simple
construction, wide application range and their full compatibility with
other manufacturing systems, which are designed according to
international standards. Ultra-light overhead conveyor systems are
rope-based conveying systems with individually driven vehicles. The
vehicles can move automatically on the rope and this can be realized
by energy and signals. Crossings are realized by switches. Overhead
conveyor systems are particularly used in the automotive industry but
also at post offices. Overhead conveyor systems always must be
integrated with a logistical process by finding the best way for a
cheaper material flow and in order to guarantee precise and fast
workflows. With their help, any transport can take place without
wasting ground and space, without excessive company capacity, lost
or damaged products, erroneous delivery, endless travels and without
wasting time. Ultra-light overhead conveyor systems provide optimal
material flow, which produces profit and saves time. This article
illustrates the advantages of the structure of the ultra-light overhead
conveyor systems in logistics applications and explains the steps of
their system design. After an illustration of the steps, currently
available systems on the market will be shown by means of their
technical characteristics. Due to their simple construction, demands
to an ultra-light overhead conveyor system will be illustrated.

Keywords: Logistics, material flow, overhead conveyor.

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Authors: C. Rogerson, E. Scott

Abstract:

The purpose of this paper is to consider the introduction of online courses to replace the current classroom-based staff training. The current training is practical, and must be completed before access to the financial computer system is authorized. The long term objective is to measure the efficacy, effectiveness and efficiency of the training, and to establish whether a transfer of knowledge back to the workplace has occurred. This paper begins with an overview explaining the importance of staff training in an evolving, competitive business environment and defines the problem facing this particular organization. A summary of the literature review is followed by a brief discussion of the research methodology and objective. The implementation of the alpha version of the online course is then described. This paper may be of interest to those seeking insights into, or new theory regarding, practical interventions of online learning in the real world.

Keywords: Computer-based courses, e-learning, online training, workplace training.

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Authors: Sorana M. Manoiu, Razvan V. Mustata, Jiří Strouhal, Carmen G. Bonaci, Dumitru Matis, Jiřina Bokšová

Abstract:

In the current context of globalization, accountability has become a key subject of real interest for both, national and international business areas, due to the need for comparability and transparency of the economic situation, so we can speak about the harmonization and convergence of international accounting. The paper presents a qualitative research through content analysis of several reports concerning the roadmap for convergence. First, we develop a conceptual framework for the evolution of standards’ convergence and further we discuss the degree of standards harmonization and convergence between US GAAP and IAS/IFRS as to October 2012. We find that most topics did not follow the expected progress. Furthermore there are still some differences in the long-term project that are in process to be completed and other that were reassessed as a lower priority project.

Keywords: Convergence, harmonization, FASB, IASB, IFRS, US GAAP.

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Authors: A. Bodak, A. Cierniak-Emerych, M. Gableta, A. Pietroń-Pyszczek, K. Piwowar-Sulej

Abstract:

Modern organizations operate under the pressure of dynamic and often unpredictable changes, both in external and internal environment. Market success, in this context, requires a particular competence in the form of flexibility, interpreted here both on the level of individuals and on the level of organization. This paper addresses the changes taking place in the sphere of employment, as observed in economic entities operating on Polish market. Based on own empirical studies, the authors focus on the progressing trend of ‘flexibilization’ of employment, particularly in the context of transformations in organizational structure, designed to facilitate the transition into management by projects and differentiation of labor forms.

Keywords: Flexibility of employment, changes in organizational structure, forms of employment, social effects of flexibility.

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Authors: Shu-Lin Lin, Ching-Chien Yang

Abstract:

This study examines the influence of information transparency and corporate governance on purchase directors and officers liability (D&O) insurance decisions. The results show that companies with greater information transparency have significant demand for D&O insurance. Greater transparency in voluntary disclosures is significantly and positively associated with demand for insurance, indicating that increasing the degree of information disclosure reduces information asymmetry for insurers, which stimulates their willingness to provide greater protection. Analysis of insured and uninsured subsamples indicates that uninsured companies have superior corporate governance compared to insured companies. Although insured companies tend to have weaker corporate governance structures, they appoint Big 4 firms or industry experts to compensate for the weakness of their corporate governance. Empirical results indicate that purchasing D&O insurance can strengthen external corporate governance and increase companies’ willingness to voluntarily provide more transparent information.

Keywords: Directors and officers liability (D&O) insurance, information transparency, corporate governance, Big 4.

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Authors: Maria Damian, Carmen G. Bonaci, Jiří Strouhal, Razvan V. Mustata, Dumitru Matis, Jiřina Bokšová

Abstract:

In the current context of globalization, a large number of companies sought to develop as a group in order to reach to other markets or meet the necessary criteria for listing on a stock exchange. The issue of consolidated financial statements prepared by a parent, an investor or a venture and the financial reporting standards guiding them therefore becomes even more important. The aim of our paper is to expose this issue in a consistent manner, first by summarizing the international accounting and financial reporting standards applicable before the 1st of January 2013 and considering the role of the crisis in shaping the standard setting process, and secondly by analyzing the newly issued/modified standards and main changes being brought

Keywords: Consolidated financial statements, control, IFRS 10, financial crisis.

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Authors: Chih-Hsiang Chang

Abstract:

This study aims to explore the relationship between the disposition effect and herding behavior of investors trading Taiwanese information technology stocks. This study differs from previous literature in two aspects. First, in contrast with the earlier studies that focused on investigating investors’ herding behavior, this study explores the possibility that the disposition effect drives investors’ herding behavior. Additionally, it takes an in-depth look at the interdependence between the disposition effect and herding behavior of investors, including lead-lag relationship and volatility transmission effect. Empirical results show that investors trading Taiwan’s information technology stocks exhibit pronounced herding behavior and that the disposition effect has a great impact on their herding behavior.

Keywords: Herding behavior, Disposition effect, Behavioral finance.

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