Search results for: Creative economy

Authors: Ayşen Edirneligil, Mehmet Mucuk

Abstract:

In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: Economic growth, external debt, time series analysis, Turkish economy.

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Authors: Gülten Silindir Keretli

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The aim of this study is to analyse the works of playwrights within the framework of existential philosophy. It is to observe the ontological existence in the plays of No Exit and Endgame. Literary works will be discussed separately in each section of this study. The despair of post-war generation of Europe problematized the ‘human condition’ in every field of literature which is the very product of social upheaval. With this concern in his mind, Sartre’s creative works portrayed man as a lonely being, burdened with terrifying freedom to choose and create his own meaning in an apparently meaningless world. The traces of the existential thought are to be found throughout the history of philosophy and literature. On the other hand, the theatre of the absurd is a form of drama showing the absurdity of the human condition and it is heavily influenced by the existential philosophy. Beckett is the most influential playwright of the theatre of the absurd. The themes and thoughts in his plays share many tenets of the existential philosophy. The existential philosophy posits the meaninglessness of existence and it regards man as being thrown into the universe and into desolate isolation. To overcome loneliness and isolation, the human ego needs recognition from the other people. Sartre calls this need of recognition as the need for ‘the Look’ (Le regard) from the Other. In this paper, existentialist philosophy and existentialist angst will be elaborated and then the works of existentialist theatre and theatre of absurd will be discussed within the framework of existential philosophy.

Keywords: Consciousness, existentialism, the notion of absurd, the other.

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Authors: Kwok Tak Kit

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Combating climate change is becoming a hot topic in various sectors. Building construction and infrastructure sectors contributed a significant proportion of waste and greenhouse gas (GHG) emissions in the environment of different countries and cities. However, there is little research on the micro-level of waste management, “building construction material wastage management,” and fewer reviews about regulatory control in the building construction sector. This paper focuses on the potentialities and importance of material wastage management and reviews the deficiencies of the current standard to take into account the reduction of material wastage in a systematic and quantitative approach.

Keywords: Quantitative measurement, material wastage management plan, waste management, uncalculated waste, circular economy.

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Authors: A. Bencsik, 1V. Lıre, 2, I. Marosi

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Intensive changes of environment and strong market competition have raised management of information and knowledge to the strategic level of companies. In a knowledge based economy only those organizations are capable of living which have up-to-date, special knowledge and they are able to exploit and develop it. Companies have to know what knowledge they have by taking a survey of organizational knowledge and they have to fix actual and additional knowledge in organizational memory. The question is how to identify, acquire, fix and use knowledge effectively. The paper will show that over and above the tools of information technology supporting acquisition, storage and use of information and organizational learning as well as knowledge coming into being as a result of it, fixing and storage of knowledge in the memory of a company play an important role in the intelligence of organizations and competitiveness of a company.

Keywords: Individual memory, organizational memory, knowledge management, organizational intelligence.

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Authors: Peter Yang

Abstract:

Green incentives are included in the “American Recovery and Reinvestment Act of 2009" (ARRA). It is, however, unclear how these government incentives can be carried out most effectively according to market-based principles and if they can serve as a catalyst for an accelerated green transformation and an ultimate solution to the current U.S. and global economic and financial crisis. The article will compare the existing U.S. green economic policies with those in Germany, identify problems, and suggest improvements to allow the green stimulus incentives to achieve the best results in the process of an accelerated green transformation. The author argues that the current U.S. green stimulus incentives can only be most successful if they are carried out as part of a visionary, comprehensive, long-term, and consistent strategy of the green economic transformation.

Keywords: Green incentives, financial crisis, green economy, renewable energy sources, energy efficiency.

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Authors: Danni Cong, Meiping Wu, Hua Mu, Xiaofeng He, Junxiang Lian, Juliang Cao, Shaokun Cai, Hao Qin

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Gravity field is of great significance in geoscience, national economy and national security, and gravitational gradient measurement has been extensively studied due to its higher accuracy than gravity measurement. Gravity gradient sensor, being one of core devices of the gravity gradient instrument, plays a key role in measuring accuracy. Therefore, this paper starts from analyzing the working principle of the gravity gradient sensor by Newton’s law, and then considers the relative motion between inertial and non-inertial systems to build a relatively adequate mathematical model, laying a foundation for the measurement error calibration, measurement accuracy improvement.

Keywords: Gravity gradient, accelerometer, gravity gradient sensor, single-axis rotation modulation.

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Authors: Michalis Menicou, Stavros Christofi, Niki Chartosia, Vassos Vassiliou, Marios Charalambides

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This paper presents preliminary results of a technology assessment analysis for the use of high pressure treatment (HPT) on Halloumi cheese. In particular, it presents the importance of this traditional Cyprus cheese to the island-s economy, explains its production process, and gives a brief introduction to HPT and its application on cheese. More importantly, it offers preliminary results of HPT of Halloumi samples and a preliminary economic feasibility study on the financial implications of the introduction of such technology.

Keywords: Economic feasibility analysis, high pressure treatment, Halloumi cheese, technology assessment

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Authors: Lan Sun, Subhrendu Rath

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This is a comprehensive large-sample study of Australian earnings management. Using a sample of 4,844 firm-year observations across nine Australia industries from 2000 to 2006, we find substantial corporate earnings management activity across several Australian industries. We document strong evidence of size and return on assets being primary determinants of earnings management in Australia. The effects of size and return on assets are also found to be dominant in both income-increasing and incomedecreasing earnings manipulation. We also document that that periphery sector firms are more likely to involve larger magnitude of earnings management than firms in the core sector.

Keywords: Earnings management, discretionary accruals, income-increasing/decreasing manipulation, dual economy sector

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Authors: Kyekyung Kim, Sangseung Kang, Suyoung Chi, Jaehong Kim

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In recent years, IT convergence technology has been developed to get creative solution by combining robotics or sports science technology. Object detection and recognition have mainly applied to sports science field that has processed by recognizing face and by tracking human body. But object detection and recognition using vision sensor is challenge task in real world because of illumination. In this paper, object detection and recognition using vision sensor applied to sports simulator has been introduced. Face recognition has been processed to identify user and to update automatically a person athletic recording. Human body has tracked to offer a most accurate way of riding horse simulator. Combined image processing has been processed to reduce illumination adverse affect because illumination has caused low performance in detection and recognition in real world application filed. Face has recognized using standard face graph and human body has tracked using pose model, which has composed of feature nodes generated diverse face and pose images. Face recognition using Gabor wavelet and pose recognition using pose graph is robust to real application. We have simulated using ETRI database, which has constructed on horse riding simulator.

Keywords: Horse riding simulator, Object detection, Object recognition, User identification, Pose recognition.

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Authors: Wint Thida Zaw, Thinn Thu Naing

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One of the essential sectors of Myanmar economy is agriculture which is sensitive to climate variation. The most important climatic element which impacts on agriculture sector is rainfall. Thus rainfall prediction becomes an important issue in agriculture country. Multi variables polynomial regression (MPR) provides an effective way to describe complex nonlinear input output relationships so that an outcome variable can be predicted from the other or others. In this paper, the modeling of monthly rainfall prediction over Myanmar is described in detail by applying the polynomial regression equation. The proposed model results are compared to the results produced by multiple linear regression model (MLR). Experiments indicate that the prediction model based on MPR has higher accuracy than using MLR.

Keywords: Polynomial Regression, Rainfall Forecasting, Statistical forecasting.

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Authors: Elise Stephanie Mvodo Meyo, Dapeng Liang

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Recently, Cassava has been the driving force of many developing countries- economic progress. To attain this level, prerequisites were put in place enabling cassava sector to become an industrial and a highly competitive crop. Cameroon can achieve the same results. Moreover, it can upgrade the living conditions of both rural and urban dwellers and stimulate the development of the whole economy. Achieving this outcome calls for agricultural policy reforms. The adoption and implementation of adequate policies go along with efficient strategies. To choose effective strategies, an indepth investigation of the sector-s problems is highly recommended. This paper uses gap analysis method to evaluate cassava sector in Cameroon. It studies the present situation (where it is now), interrogates the future (where it should be) and finally proposes solutions to fill the gap.

Keywords: Cameroon, cassava sector, drivers of agricultural growth, gap analysis.

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Authors: Peyman Naderi, Ali Farhadi, S. Mohammad Taghi Bathaee

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One of the best ways for achievement of conventional vehicle changing to hybrid case is trustworthy simulation result and using of driving realities. For this object, in this paper, at first sevendegree- of-freedom dynamical model of vehicle will be shown. Then by using of statically model of engine, gear box, clutch, differential, electrical machine and battery, the hybrid automobile modeling will be down and forward simulation of vehicle for pedals to wheels power transformation will be obtained. Then by design of a fuzzy controller and using the proper rule base, fuel economy and regenerative braking will be marked. Finally a series of MATLAB/SIMULINK simulation results will be proved the effectiveness of proposed structure.

Keywords: Hybrid, Driving, Fuzzy, Regeneration.

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Authors: Libena Cernohorska, Veronika Linhartova, Michal Sinka, Petr Teply

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The term private equity usually refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. Some researchers believe that private equity contributed to the extent of the crisis and increased the pace of its spread over the world. We do not agree with this. On the other hand, we argue that during the economic recession private equity might become an important source of funds for firms with special needs (e.g. for firms seeking buyout financing, venture capital, expansion capital or distress debt financing). However, over-regulation of private equity in both the European Union and the US can slow down this specific funding channel to the economy and deepen credit crunch during global crises.

Keywords: scredit lunch, distress debt, global crisis, private equity, regulation

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Authors: Ingrid Majerová, Michaela Horúcková

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The concept of competitiveness is currently very frequently used term. However, the interpretation of its essence is different. In this paper, one of the many concepts of competitiveness will be analyzed and that is macroeconomic competitiveness, which is understood as a process, which is based on the productivity growth through the growth of key macroeconomic indicators such as standards of living and employment, where all of these variables must have a sustainable basis. Given the competition is a relative quantity it must be constantly compared with the development of competitiveness in other economies or regions. And this comparison method is also used in the article that compares the macrocompetitiveness of selected economies of the European Economic Area – the Czech Republic, Poland, Austria, Switzerland and Germany. The aim of the paper is to verify the hypothesis concerning the direct correlation between the size of the economy and its competitiveness.

Keywords: Comparison, Competitiveness, European Economic Area, Global Competitiveness Index, Immeasurable Indicators of Competitiveness, Macro-competitiveness.

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Authors: JunSeok Hwang, Mohsen Gerami

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Knowledge is the foundation for growth and development. Investment in knowledge improves new method for originate knowledge society and knowledge economy. Investment in knowledge embraces expenditure on education and R&D and software. Measuring of investment in knowledge is characteristically complicated. We examine the influence of investment in knowledge in multifactor productivity growth and numbers of patent. We analyze the annual growth of investment in knowledge and we estimate portion of each country intended for produce total investment in knowledge on the whole OECD. We determine the relative efficiency of average patent numbers with average investment in knowledge and we compare GDP growth rates and growth of knowledge investment. The main purpose in this paper is to study to evaluate different aspect, influence and output of investment in knowledge in OECD countries.

Keywords: Knowledge, GDP, Multifactor productivity, Investment, efficiency.

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Authors: Asina Gülerarslan

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Today-s children, who are born into a more colorful, more creative, more abstract and more accessible communication environment than their ancestors as a result of dizzying advances in technology, have an interesting capacity to perceive and make sense of the world. Millennium children, who live in an environment where all kinds of efforts by marketing communication are more intensive than ever are, from their early childhood on, subject to all kinds of persuasive messages. As regards advertising communication, it outperforms all the other marketing communication efforts in creating little consumer individuals and, as a result of processing of codes and signs, plays a significant part in building a world of seeing, thinking and understanding for children. Children who are raised with metaphorical expressions such as tales and riddles also meet that fast and effective meaning communication in advertisements. Children-s perception of metaphors, which help grasp the “product and its promise" both verbally and visually and facilitate association between them is the subject of this study. Stimulating and activating imagination, metaphors have unique advantages in promoting the product and its promise especially in regard to print advertisements, which have certain limitations. This study deals comparatively with both literal and metaphoric versions of print advertisements belonging to various product groups and attempts to discover to what extent advertisements are liked, recalled, perceived and are persuasive. The sample group of the study, which was conducted in two elementary schools situated in areas that had different socioeconomic features, consisted of children aged 12.

Keywords: Children, metaphor, perception, print advertisements, recall.

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Authors: Alka Obadić

Abstract:

The research concentrates on the role of tourism in generating female employment and on impact of gender discrimination in tourism sector. Unfortunately, in many countries there are still some barriers to the inclusion of women at all hierarchical levels of tourism labor market. Research analysis focuses on EU countries where tourism is a main employer of women. The analysis shows that women represent over third persons employed in the non-financial business economy and almost two thirds in core tourism activities. Women's gross hourly earnings in accommodation and food services were below those of men in the European Union and only countries who recorded increase of gender pay gap from the beginning of crisis are Bulgaria and Croatia. Women in tourism industry are still overrepresented in lower status jobs with fewer opportunities for career progression and are often treated unequally.

Keywords: Employment, gender discrimination, tourism, women’s participation.

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Authors: K. Varesi, A. Radan

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In this paper, a new Genetic Algorithm (GA) based methodology is proposed to optimize the Degree of Hybridization (DOH) in a passenger parallel hybrid car. At first step, target parameters for the vehicle are decided and then using ADvanced VehIcle SimulatOR (ADVISOR) software, the variation pattern of these target parameters, across the different DOHs, is extracted. At the next step, a suitable cost function is defined and is optimized using GA. In this paper, also a new technique has been proposed for deciding the number of battery modules for each DOH, which leads to a great improvement in the vehicle performance. The proposed methodology is so simple, fast and at the same time, so efficient.

Keywords: Degree of Hybridization (DOH), Electric Motor, Emissions, Fuel Economy, Genetic Algorithm (GA), Hybrid ElectricVehicle (HEV), Vehicle Performance

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Authors: A.A. Amran, S. R. M. Shukri, S. M. Taib

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The role of entrepreneurs in generating the economy is very important. Thus, nurturing entrepreneurship skills among society is very crucial and should start from the early age. One of the methods is to teach through game such as board game. Game provides a fun and interactive platform for players to learn and play. Besides that as today-s world is moving towards Islamic approach in terms of finance, banking and entertainment but Islamic based game is still hard to find in the market especially games on entrepreneurship. Therefore, there is a gap in this segment that can be filled by learning entrepreneurship through game. The objective of this paper is to develop an entrepreneurship digital-based game entitled “Catur Bistari" that is based on Islamic business approach. Knowledge and skill of entrepreneurship and Islamic business approach will be learned through the tasks that are incorporated inside the game.

Keywords: Board game, educational game, entrepreneurship, Islamic finance and simulation.

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Authors: Igor Astrov, Mikhail Pikkov, Rein Paluoja

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This paper focuses on a critical component of the situational awareness (SA), the control of autonomous vertical flight for vectored thrust aerial vehicle (VTAV). With the SA strategy, we proposed a linear-quadratic-Gaussian (LQG) flight control procedure for an unmanned helicopter model with vectored thrust configuration. This LQG control for chosen model of VTAV has been verified by simulation of take-off and landing maneuvers using software package Simulink and demonstrated good performance for fast flight stabilization of model, consequently, fast SA with economy in energy can be asserted during search-and-rescue operations.

Keywords: Linear-Quadratic-Gaussian (LQG) controller, situational awareness, vectored thrust aerial vehicle.

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Authors: Ε. Giovanis

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In this paper we apply an Adaptive Network-Based Fuzzy Inference System (ANFIS) with one input, the dependent variable with one lag, for the forecasting of four macroeconomic variables of US economy, the Gross Domestic Product, the inflation rate, six monthly treasury bills interest rates and unemployment rate. We compare the forecasting performance of ANFIS with those of the widely used linear autoregressive and nonlinear smoothing transition autoregressive (STAR) models. The results are greatly in favour of ANFIS indicating that is an effective tool for macroeconomic forecasting used in academic research and in research and application by the governmental and other institutions

Keywords: Linear models, Macroeconomics, Neuro-Fuzzy, Non-Linear models

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Authors: E. Selçuk, Z. Karaçor, P. Yardımcı

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Trade liberalization and its effects on the economies of developing countries have been investigated by many different studies, and some of them have focused on its impact on the current account balance. Turkey, as being one of the countries, which has liberalized its foreign trade in the 1980s, also needs to be studied in terms of the impact of liberalization on current account deficits. Therefore, the aim of this study is to find out whether trade liberalization has affected Turkey’s trade and current account balances. In order to determine this, yearly data of Turkey from 1980 to 2013 is used. As liberalization dummy, the year 1989, which was set for Turkey, is selected. Structural break test and model estimation results show that trade liberalization has a negative impact on trade balance but do not have a significant impact on the current account balance.

Keywords: Budget deficit, current account, liberalization, Turkish economy.

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Authors: Melvin Chan, Chew Lee Teo

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There has been a growing emphasis in elevating the teachers’ proficiency and competencies through continuing professional development (CPD) opportunities. In this era of a Volatile, Uncertain, Complex, Ambiguous (VUCA) world, teachers are expected to be collaborative designers, critical thinkers and creative builders. However, many of the CPD structures are still revolving in the model of transmission, which stands in contradiction to the cultivation of future-ready teachers for the innovative world of emerging technologies. This article puts forward the framing of CPD through a Principle-Based, Technological-Driven Knowledge Building Approach grounded in the essence of andragogy and progressive learning theories where growth is best exemplified through an authentic immersion in a social/community experience-based setting. Putting this Knowledge Building Professional Development Model (KBPDM) in operation via a Professional Learning Team (PLT) situated in a Secondary School in Singapore, research findings reveal that the intervention has led to a fundamental change in the learning paradigm of the teachers, henceforth equipping and empowering them successfully in their pedagogical design and practices for a 21^st century classroom experience. This article concludes with the possibility in leveraging the Learning Analytics to deepen the CPD experiences for educators.

Keywords: Continual professional development, knowledge building, learning paradigm, andragogy.

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Authors: Okolo Chimaobi Valentine

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Commercial banks in Nigeria adopted many strategies to attract fresh deposits including the use of high deposit rate. However, pricing of banking services moved in favor of the banks at the expense of customers, resulting in their seeking other investment alternatives rather than saving their money in the bank. Both deposit and lending rates were greatly influenced by the Central Bank of Nigeria (CBN) decision on interest rate. Therefore, commercial bank effort to attract deposits via manipulation of her rates was greatly limited, otherwise the banks will be giving out more than it earned. The study aimed at examining the relationship between interest rate and fixed fund deposit of commercial banks, how policy-controlled interest rate affected commercial bank’s fixed fund deposit The researcher employed ordinary least square technique, using, multiple linear regression, unrestricted vector auto-regression, correlation matrix test, granger causality and impulse response graph in the analysis. Commercial bank’s interest rates affected commercial bank’s fixed fund deposit significantly while policy-controlled interest rate did not significantly transmit through the commercial bank’s interest rates to affect fixed fund deposit. While commercial banks seek creative ways to expand their fixed fund deposit, policy authorities in Nigeria should better coordinate interest rate fluctuation and induce competition in the entire financial sector.

Keywords: Commercial bank, fixed fund deposit, fluctuation effects, interest rate.

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Authors: Petra Barisic, Zrinka Blazevic

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In the world of modern communications, visual identity has predominant influence on the overall success of tourist destinations, but despite of these, the problem of designing thriving tourist destination visual identity and their components are hardly addressed. This study highlights the importance of building and managing the visual identity of tourist destination, and based on the empirical study of well-known Mediterranean destination of Croatia analyses three main components of tourist destination visual identity; name, slogan, and logo. Moreover, the paper shows how respondents perceive each component of Croatia’s visual identity. According to study, logo is the most important, followed by the name and slogan. Research also reveals that Croatian economy lags behind developed countries in understanding the importance of visual identity, and its influence on marketing goal achievements.

Keywords: Components of visual identity, Croatia, tourist destination, visual identity.

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Authors: Donglan Zha, Ning Ding

Abstract:

Taking the provincial capital, labor and energy as inputs, regional GDP as output from 1995 to 2007, the paper quantifies the vertical and lateral energy saving potential by introducing the radial adjustment and slack adjustment of DEA. The results show that by the vertical, the achievement of energy saving in 2007 is better than their respective historical performances. By horizontal, in 2007 it can be found that Tianjin, Liaoning, Shanghai and Yunnan do better in energy saving than other provinces. In national wide, the higher of energy efficiency, the larger of per capita GDP and the proportion of the tertiary industry in the national economy, the more open to the outside, the lower the energy saving potential demonstrates, while the energy endowment has negative effect on energy saving potential.

Keywords: radial adjustment; slack adjustment; regional disparity; energy saving potential

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Authors: Mazeni Ismail, Nurul Aliah, Hasmadi Hassan

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The purpose of this study is to gather the consensus of experts regarding the use of moral guidance amongst preschool teachers vis-a-vis the Islamic Project module (I-Project Module). This I-Project Module seeks to provide pertinent data on the assimilation of noble values in subject-matter teaching. To obtain consensus for the various components of the module, the Modified Delphi technique was used to develop the module. 12 subject experts from various educational fields of Islamic education, early childhood education, counselling and language fully participated in the development of this module. The Modified Delphi technique was administered in two mean cycles. The standard deviation value derived from questionnaires completed by the participating panel of experts provided the value of expert consensus reached. This was subsequently analyzed using SPSS version 22. Findings revealed that the panel of experts reached a discernible degree of agreement on five topics outlined in the module, viz; content (mean value 3.36), teaching strategy (mean value 3.28), programme duration (mean value 3.0), staff involved and attention-grabbing strategy of target group participating in the value program (mean value 3.5), and strategy to attract attention of target group to utilize i-project (mean value 3.0). With regard to the strategy to attract the attention of the target group, the experts proposed for creative activities to be added in order to enhance teachers’ creativity.

Keywords: Islamic project, modified Delphi technique, project approach, teacher moral guidance.

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Authors: A. Petz, S. Duckwitz, C. Schmalz, S. Meyer, S. Mütze-Niewöhner, C.M. Schlick

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Although services play a crucial role in economy, service did not gain as much importance as productivity management in manufacturing. This paper presents key findings from literature and practice. Based on an initial definition of complex services, seven productivity concepts are briefly presented and assessed by relevant, complex service specific criteria. Following the findings a complex service productivity model is proposed. The novel model comprises of all specific dimensions of service provision from both, the provider-s as well as costumer-s perspective. A clear assignment of identified value drivers and relationships between them is presented. In order to verify the conceptual service productivity model a case study from a project engineering department of a chemical plant development and construction company is presented.

Keywords: assessment model, complex services, service productivity model, value driver.

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Authors: Kong-Seng, Lai, Nor'Aini Yusof

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Organizational culture fosters innovation, and innovation is the main engine to be sustained within the uncertainty market. Like other countries, the construction industry significantly contributes to the economy, society and technology of Malaysia, yet, innovation is still considered slow compared to other industries such as manufacturing. Given the important role of an architect as the key player and the contributor of new ideas in the construction industry, there is a call to identify the issue and improve the current situation by focusing on the architectural firms. In addition, the existing studies tend to focus only on a few dimensions of organizational culture and very few studies consider whether innovation is being generated or adopted. Hence, the present research tends to fill in the gap by identifying the organizational cultures that foster or hinder innovation generation and/or innovation adoption, and propose a model of organizational culture and innovation generation and/or adoption.

Keywords: Innovation adoption, innovation generation, architectural firm, organizational culture

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Authors: C. F. Pricope

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The last two decades witnessed a movement towards harmonization of international financial reporting standards (IFRS) throughout the global economy. This investigation seeks to identify the factors that could explain the adoption of IFRS by poor jurisdictions. While there has been a considerable amount of literature published on the effects and key drivers of IFRS adoption in both developed and developing countries, little attention has been paid to jurisdictions with less developed capital markets and low income levels exclusively. Drawing upon the Institutional Isomorphism theory and analyzing a sample of 45 poor jurisdictions between 2008 and 2013, the study empirically shows that poor jurisdictions are driven by legitimacy concerns rather than by economic reasoning to adopt an international accounting perspective. This in turn has implications for the IASB, as it should seek to influence institutional pressures within a particular jurisdiction in order to promote IFRS adoption.

Keywords: IFRS Adoption, isomorphism, poor jurisdictions, accounting harmonization.

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