Search results for: Financial decision making
2287 The Link between Financial and Overall Corporate Strategies
Authors: Jaroslav Pavlíček
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Company strategy expresses a basic idea of how to reach company objectives. A whole range of models of strategic management are used in practice. The concept of strategic management should fulfill some basic requirements to make it applicable for both the typical, but also more specific company environment. The financial strategy plays an important role in corporate strategy. The paper develops a methodology of strategic model implementing into the category of micro, small and medium-sized enterprises (SMEs). Furthermore, the methodology recommends procedures while solving an up-to-date worldwide task of the definition of the company strategy and its financial strategy.
Keywords: corporate strategy, financial strategy, corporate planning
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19522286 Effect of Teaching Games for Understanding Approach on Students- Cognitive Learning Outcome
Authors: Malathi Balakrishnan, Shabeshan Rengasamy, Mohd Salleh Aman
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The study investigated the effects of Teaching Games for Understanding approach on students ‘cognitive learning outcome. The study was a quasi-experimental non-equivalent pretest-posttest control group design whereby 10 year old primary school students (n=72) were randomly assigned to an experimental and a control group. The experimental group students were exposed with TGfU approach and the control group with the Traditional Skill approach of handball game. Game Performance Assessment Instrument (GPAI) was used to measure students' tactical understanding and decision making in 3 versus 3 handball game situations. Analysis of covariance (ANCOVA) was used to analyze the data. The results reveal that there was a significant difference between the TGfU approach group and the traditional skill approach group students on post test score (F (1, 69) = 248.83, p < .05). The findings of this study suggested the importance of TGfU approach to improve primary students’ tactical understanding and decision making in handball game.Keywords: Constructivism, learning outcome, tactical understanding, and Teaching Game for Understanding (TGfU)
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 46042285 Board Members' Financial Education and Firms' Performance: Empirical Evidence for Bucharest Stock Exchange Companies
Authors: Mădălina Maria Gîrbină, Cătălin Nicolae Albu, Nadia Albu
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After the accounting scandals and the financial crisis, regulators have stressed the need for more financial experts on boards. Several studies conducted in countries with developed capital markets report positive effects of board financial competencies. As each country offers a different context and specific institutional factors this paper addresses the subject in the context of Romania. The Romanian capital market offers an interesting research field because of the heterogeneity of listed firms. After analyzing board members education based on public information posted on listed companies websites and their annual reports we found a positive association between the proportion of board members holding a postgraduate degree in financial fields and market based performance measured by Tobin q. We found also that the proportion of Board members holding degrees in financial fields is higher in bigger firms and firms with more concentrated ownership.
Keywords: financial education, corporate governance, board
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 38902284 Implementation of the Outputs of Computer Simulation to Support Decision-Making Processes
Authors: Jiří Barta
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At the present time, awareness, education, computer simulation and information systems protection are very serious and relevant topics. The article deals with perspectives and possibilities of implementation of emergence or natural hazard threats into the system which is developed for communication among members of crisis management staffs. The Czech Hydro-Meteorological Institute with its System of Integrated Warning Service resents the largest usable base of information. National information systems are connected to foreign systems, especially to flooding emergency systems of neighboring countries, systems of European Union and international organizations where the Czech Republic is a member. Use of outputs of particular information systems and computer simulations on a single communication interface of information system for communication among members of crisis management staff and setting the site interoperability in the net will lead to time savings in decision-making processes in solving extraordinary events and crisis situations. Faster managing of an extraordinary event or a crisis situation will bring positive effects and minimize the impact of negative effects on the environment.Keywords: Computer simulation, communication, continuity, critical infrastructure, information systems, safety.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17192283 Physical Activity and Cognitive Functioning Relationship in Children
Authors: Comfort Mokgothu
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This study investigated the relation between processing information and fitness level of active (fit) and sedentary (unfit) children drawn from rural and urban areas in Botswana. It was hypothesized that fit children would display faster simple reaction time (SRT), choice reaction times (CRT) and movement times (SMT). 60, third grade children (7.0 – 9.0 years) were initially selected and based upon fitness testing, 45 participated in the study (15 each of fit urban, unfit urban, fit rural). All children completed anthropometric measures, skinfold testing and submaximal cycle ergometer testing. The cognitive testing included SRT, CRT, SMT and Choice Movement Time (CMT) and memory sequence length. Results indicated that the rural fit group exhibited faster SMT than the urban fit and unfit groups. For CRT, both fit groups were faster than the unfit group. Collectively, the study shows that the relationship that exists between physical fitness and cognitive function amongst the elderly can tentatively be extended to the pediatric population. Physical fitness could be a factor in the speed at which we process information, including decision making, even in children.
Keywords: Decision making, fitness, information processing, reaction time, cognition movement time.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7952282 Portfolio Management for Construction Company during Covid-19 Using AHP Technique
Authors: Sareh Rajabi, Salwa Bheiry
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In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies.
Keywords: Portfolio management, risk management, COVID-19, analytical hierarchy process technique.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8322281 Trajectory-Based Modified Policy Iteration
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This paper presents a new problem solving approach that is able to generate optimal policy solution for finite-state stochastic sequential decision-making problems with high data efficiency. The proposed algorithm iteratively builds and improves an approximate Markov Decision Process (MDP) model along with cost-to-go value approximates by generating finite length trajectories through the state-space. The approach creates a synergy between an approximate evolving model and approximate cost-to-go values to produce a sequence of improving policies finally converging to the optimal policy through an intelligent and structured search of the policy space. The approach modifies the policy update step of the policy iteration so as to result in a speedy and stable convergence to the optimal policy. We apply the algorithm to a non-holonomic mobile robot control problem and compare its performance with other Reinforcement Learning (RL) approaches, e.g., a) Q-learning, b) Watkins Q(λ), c) SARSA(λ).Keywords: Markov Decision Process (MDP), Mobile robot, Policy iteration, Simulation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14462280 Understanding Cruise Passengers’ On-board Experience throughout the Customer Decision Journey
Authors: Sabina Akter, Osiris Valdez Banda, Pentti Kujala, Jani Romanoff
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This paper examines the relationship between on-board environmental factors and customer overall satisfaction in the context of the cruise on-board experience. The on-board environmental factors considered are ambient, layout/design, social, product/service and on-board enjoyment factors. The study presents a data-driven framework and model for the on-board cruise experience. The data are collected from 893 respondents in an application of a self-administered online questionnaire of their cruise experience. This study reveals the cruise passengers’ on-board experience through the customer decision journey based on the publicly available data. Pearson correlation and regression analysis have been applied, and the results show a positive and a significant relationship between the environmental factors and on-board experience. These data help understand the cruise passengers’ on-board experience, which will be used for the ultimate decision-making process in cruise ship design.
Keywords: Cruise behavior, on-board environmental factors, on-board experience, user or customer satisfaction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8732279 Identification of Factors Influencing Costs in Green Projects
Authors: Nazirah Zainul Abidin, Nurul Zahirah Mokhtar Azizi
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Cost has always been the leading concern in green building development. The perception that construction cost for green building is higher than conventional buildings has only made the discussion of green building cost more difficult. Understanding the factors that will influence the cost of green construction is expected to shed light into what makes green construction more or at par with conventional projects, or perhaps, where cost can be optimised. This paper identifies the elements of cost before shifting the attention to the influencing factors. Findings from past studies uncovered various factors related to cost which are grouped into five focal themes i.e. awareness, knowledge, financial, technical, and government support. A conceptual framework is produced in a form of a flower diagram indicating the cost influencing factors of green building development. These factors were found to be both physical and non-physical aspects of a project. The framework provides ground for the next stage of research that is to further explore how these factors influence the project cost and decision making.Keywords: Green project, factors influencing cost, hard cost, soft cost.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15102278 Motivating Factors and Prospects for Rural Community Involvement in Entrepreneurship: Evidence from Mantanani Island, Sabah, Malaysia
Authors: F. Fabeil Noor, Roslinah Mahmud, Janice L. H. Nga, Rasid Mail
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In Malaysia, particularly in Sabah, the government has been promoting entrepreneurship among rural people to encourage them to earn their living by making good use of the diverse natural resources and local cultures of Sabah. Nevertheless, despite the government’s aim to encourage more local community in rural area to involve in entrepreneurship, the involvement of community in entrepreneurial activity is still low. It is crucial to identify the factors stimulate (or prevent) the involvement of rural community in Sabah in entrepreneurial activity. Therefore, this study tries to investigate the personal and contextual factors that may have impact on decision to start a business among the local community in Mantanani Island. In addition, this study also aims to identify the perceived benefits they receive from entrepreneurial activity. A structured face-to-face interview was conducted with 61 local communities in Mantanani Island. Data analysis revealed that passion, personal skills and self-confidence are the significant internal factors to entrepreneurial activity, whereas access to finance, labour and infrastructure are the significant external factors that are found to influence entrepreneurship. In terms of perceived rewards they received from taking up small business, it was found that respondents are predominantly agreed that entrepreneurship offers financial benefit than non-financial. In addition, this study also offers several suggestions for entrepreneurship development in Mantanani Island and it is hoped that this study may help the related agency to develop effective support policies in order to encourage more people in rural area to involve in entrepreneurship.
Keywords: Entrepreneurship, motivation, perceived rewards, rural community.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12732277 Functionality of Negotiation Agent on Value-based Design Decision
Authors: Arazi Idrus, Christiono Utomo
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This paper presents functionality of negotiation agent on value-based design decision. The functionality is based on the characteristics of the system and goal specification. A Prometheus Design Tool model was used for developing the system. Group functionality will be the attribute for negotiation agents, which comprises a coordinator agent and decision- maker agent. The results of the testing of the system to a building system selection on valuebased decision environment are also presented.Keywords: Functionality, negotiation agent, value-baseddecision
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14202276 Increasing the Heterogeneity and Competition of Early Stage Financing: An Analysis of the Role of Crowdfunding in Entrepreneurial Ventures
Authors: Lars Silver, Björn Berggren, Andreas Fili
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The financial crisis has decreased the opportunities of small businesses to acquire financing through conventional financial actors, such as commercial banks. This credit constraint is partly the reason for the emergence of new alternatives of financing, in addition to the spreading opportunities for communication and secure financial transfer through Internet. One of the most interesting venues for finance is termed “crowdfunding". As the term suggests crowdfunding is an appeal to prospective customers and investors to form a crowd that will finance projects that otherwise would find it hard to generate support through the most common financial actors. Crowdfunding is in this paper divided into different models; the threshold model, the microfinance model, the micro loan model and the equity model. All these models add to the financial possibilities of emerging entrepreneurs.Keywords: Entrepreneurship, crowdfunding, equity finance, bank finance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 26902275 A Preference-Based Multi-Agent Data Mining Framework for Social Network Service Users' Decision Making
Authors: Ileladewa Adeoye Abiodun, Cheng Wai Khuen
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Multi-Agent Systems (MAS) emerged in the pursuit to improve our standard of living, and hence can manifest complex human behaviors such as communication, decision making, negotiation and self-organization. The Social Network Services (SNSs) have attracted millions of users, many of whom have integrated these sites into their daily practices. The domains of MAS and SNS have lots of similarities such as architecture, features and functions. Exploring social network users- behavior through multiagent model is therefore our research focus, in order to generate more accurate and meaningful information to SNS users. An application of MAS is the e-Auction and e-Rental services of the Universiti Cyber AgenT(UniCAT), a Social Network for students in Universiti Tunku Abdul Rahman (UTAR), Kampar, Malaysia, built around the Belief- Desire-Intention (BDI) model. However, in spite of the various advantages of the BDI model, it has also been discovered to have some shortcomings. This paper therefore proposes a multi-agent framework utilizing a modified BDI model- Belief-Desire-Intention in Dynamic and Uncertain Situations (BDIDUS), using UniCAT system as a case study.
Keywords: Distributed Data Mining, Multi-Agent Systems, Preference-Based, SNS.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15032274 Hybrid Methods for Optimisation of Weights in Spatial Multi-Criteria Evaluation Decision for Fire Risk and Hazard
Authors: I. Yakubu, D. Mireku-Gyimah, D. Asafo-Adjei
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The challenge for everyone involved in preserving the ecosystem is to find creative ways to protect and restore the remaining ecosystems while accommodating and enhancing the country social and economic well-being. Frequent fires of anthropogenic origin have been affecting the ecosystems in many countries adversely. Hence adopting ways of decision making such as Multicriteria Decision Making (MCDM) is appropriate since it will enhance the evaluation and analysis of fire risk and hazard of the ecosystem. In this paper, fire risk and hazard data from the West Gonja area of Ghana were used in some of the methods (Analytical Hierarchy Process, Compromise Programming, and Grey Relational Analysis (GRA) for MCDM evaluation and analysis to determine the optimal weight method for fire risk and hazard. Ranking of the land cover types was carried out using; Fire Hazard, Fire Fighting Capacity and Response Risk Criteria. Pairwise comparison under Analytic Hierarchy Process (AHP) was used to determine the weight of the various criteria. Weights for sub-criteria were also obtained by the pairwise comparison method. The results were optimised using GRA and Compromise Programming (CP). The results from each method, hybrid GRA and CP, were compared and it was established that all methods were satisfactory in terms of optimisation of weight. The most optimal method for spatial multicriteria evaluation was the hybrid GRA method. Thus, a hybrid AHP and GRA method is more effective method for ranking alternatives in MCDM than the hybrid AHP and CP method.
Keywords: Compromise programming, grey relational analysis, spatial multi-criteria, weight optimisation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6562273 Financial Portfolio Optimization in Electricity Markets: Evaluation via Sharpe Ratio
Authors: F. Gökgöz, M. E. Atmaca
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Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.
Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14852272 Geometric Operators in the Selection of Human Resources
Authors: José M. Merigó, Anna M. Gil-Lafuente
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We study the possibility of using geometric operators in the selection of human resources. We develop three new methods that use the ordered weighted geometric (OWG) operator in different indexes used for the selection of human resources. The objective of these models is to manipulate the neutrality of the old methods so the decision maker is able to select human resources according to his particular attitude. In order to develop these models, first a short revision of the OWG operator is developed. Second, we briefly explain the general process for the selection of human resources. Then, we develop the three new indexes. They will use the OWG operator in the Hamming distance, in the adequacy coefficient and in the index of maximum and minimum level. Finally, an illustrative example about the new approach is given.Keywords: OWG operator, decision making, human resources, Hamming distance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14022271 Financial Portfolio Optimization in Turkish Electricity Market via Value at Risk
Authors: F. Gökgöz, M. E. Atmaca
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Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10522270 Defect Cause Modeling with Decision Tree and Regression Analysis
Authors: B. Bakır, İ. Batmaz, F. A. Güntürkün, İ. A. İpekçi, G. Köksal, N. E. Özdemirel
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The main aim of this study is to identify the most influential variables that cause defects on the items produced by a casting company located in Turkey. To this end, one of the items produced by the company with high defective percentage rates is selected. Two approaches-the regression analysis and decision treesare used to model the relationship between process parameters and defect types. Although logistic regression models failed, decision tree model gives meaningful results. Based on these results, it can be claimed that the decision tree approach is a promising technique for determining the most important process variables.Keywords: Casting industry, decision tree algorithm C5.0, logistic regression, quality improvement.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25202269 Biologically Inspired Controller for the Autonomous Navigation of a Mobile Robot in an Evasion Task
Authors: Dejanira Araiza-Illan, Tony J. Dodd
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A novel biologically inspired controller for the autonomous navigation of a mobile robot in an evasion task is proposed. The controller takes advantage of the environment by calculating a measure of danger and subsequently choosing the parameters of a reinforcement learning based decision process. Two different reinforcement learning algorithms were used: Qlearning and Sarsa (λ). Simulations show that selecting dynamic parameters reduce the time while executing the decision making process, so the robot can obtain a policy to succeed in an escaping task in a realistic time.Keywords: Autonomous navigation, mobile robots, reinforcement learning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14812268 Development of Requirements Analysis Tool for Medical Autonomy in Long-Duration Space Exploration Missions
Authors: Lara Dutil-Fafard, Caroline Rhéaume, Patrick Archambault, Daniel Lafond, Neal W. Pollock
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Improving resources for medical autonomy of astronauts in prolonged space missions, such as a Mars mission, requires not only technology development, but also decision-making support systems. The Advanced Crew Medical System - Medical Condition Requirements study, funded by the Canadian Space Agency, aimed to create knowledge content and a scenario-based query capability to support medical autonomy of astronauts. The key objective of this study was to create a prototype tool for identifying medical infrastructure requirements in terms of medical knowledge, skills and materials. A multicriteria decision-making method was used to prioritize the highest risk medical events anticipated in a long-term space mission. Starting with those medical conditions, event sequence diagrams (ESDs) were created in the form of decision trees where the entry point is the diagnosis and the end points are the predicted outcomes (full recovery, partial recovery, or death/severe incapacitation). The ESD formalism was adapted to characterize and compare possible outcomes of medical conditions as a function of available medical knowledge, skills, and supplies in a given mission scenario. An extensive literature review was performed and summarized in a medical condition database. A PostgreSQL relational database was created to allow query-based evaluation of health outcome metrics with different medical infrastructure scenarios. Critical decision points, skill and medical supply requirements, and probable health outcomes were compared across chosen scenarios. The three medical conditions with the highest risk rank were acute coronary syndrome, sepsis, and stroke. Our efforts demonstrate the utility of this approach and provide insight into the effort required to develop appropriate content for the range of medical conditions that may arise.Keywords: Decision support system, event sequence diagram, exploration mission, medical autonomy, scenario-based queries, space medicine.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10482267 Knowledge-Driven Decision Support System Based on Knowledge Warehouse and Data Mining by Improving Apriori Algorithm with Fuzzy Logic
Authors: Pejman Hosseinioun, Hasan Shakeri, Ghasem Ghorbanirostam
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In recent years, we have seen an increasing importance of research and study on knowledge source, decision support systems, data mining and procedure of knowledge discovery in data bases and it is considered that each of these aspects affects the others. In this article, we have merged information source and knowledge source to suggest a knowledge based system within limits of management based on storing and restoring of knowledge to manage information and improve decision making and resources. In this article, we have used method of data mining and Apriori algorithm in procedure of knowledge discovery one of the problems of Apriori algorithm is that, a user should specify the minimum threshold for supporting the regularity. Imagine that a user wants to apply Apriori algorithm for a database with millions of transactions. Definitely, the user does not have necessary knowledge of all existing transactions in that database, and therefore cannot specify a suitable threshold. Our purpose in this article is to improve Apriori algorithm. To achieve our goal, we tried using fuzzy logic to put data in different clusters before applying the Apriori algorithm for existing data in the database and we also try to suggest the most suitable threshold to the user automatically.
Keywords: Decision support system, data mining, knowledge discovery, data discovery, fuzzy logic.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21322266 Attribute Based Comparison and Selection of Modular Self-Reconfigurable Robot Using Multiple Attribute Decision Making Approach
Authors: Manpreet Singh, V. P. Agrawal, Gurmanjot Singh Bhatti
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From the last decades, there is a significant technological advancement in the field of robotics, and a number of modular self-reconfigurable robots were introduced that can help in space exploration, bucket to stuff, search, and rescue operation during earthquake, etc. As there are numbers of self-reconfigurable robots, choosing the optimum one is always a concern for robot user since there is an increase in available features, facilities, complexity, etc. The objective of this research work is to present a multiple attribute decision making based methodology for coding, evaluation, comparison ranking and selection of modular self-reconfigurable robots using a technique for order preferences by similarity to ideal solution approach. However, 86 attributes that affect the structure and performance are identified. A database for modular self-reconfigurable robot on the basis of different pertinent attribute is generated. This database is very useful for the user, for selecting a robot that suits their operational needs. Two visual methods namely linear graph and spider chart are proposed for ranking of modular self-reconfigurable robots. Using five robots (Atron, Smores, Polybot, M-Tran 3, Superbot), an example is illustrated, and raking of the robots is successfully done, which shows that Smores is the best robot for the operational need illustrated, and this methodology is found to be very effective and simple to use.
Keywords: Self-reconfigurable robots, MADM, TOPSIS, morphogenesis, scalability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 8902265 Decision Support System for Suppliers
Authors: Babak Tashakori Bafghi, Laleh Tashakori, Reza Allahyari Soeini, Mohammad Mokhtari
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Supplier selection is a multi criteria decision-making process that comprises tangible and intangible factors. The majority of previous supplier selection techniques do not consider strategic perspective. Besides, uncertainty is one of the most important obstacles in supplier selection. For the first, time in this paper, the idea of the algorithm " Knapsack " is used to select suppliers Moreover, an attempt has to be made to take the advantage of a simple numerical method for solving model .This is an innovation to resolve any ambiguity in choosing suppliers. This model has been tried in the suppliers selected in a competitive environment and according to all desired standards of quality and quantity to show the efficiency of the model, an industry sample has been uses.
Keywords: Knapsack, linear programming, supplier select, supply chain management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16062264 A Study of Priority Evaluation and Resource Allocation for Revitalization of Cultural Heritages in the Urban Development
Authors: Wann-Ming Wey, Yi-Chih Huang
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Proper maintenance and preservation of significant cultural heritages or historic buildings is necessary. It can not only enhance environmental benefits and a sense of community, but also preserve a city's history and people’s memory. It allows the next generation to be able to get a glimpse of our past, and achieve the goal of sustainable preserved cultural assets. However, the management of maintenance work has not been appropriate for many designated heritages or historic buildings so far. The planning and implementation of the reuse has yet to have a breakthrough specification. It leads the heritages to a mere formality of being “reserved”, instead of the real meaning of “conservation”. For the restoration and preservation of cultural heritages study issues, it is very important due to the consideration of historical significance, symbolism, and economic benefits effects. However, the decision makers such as the officials from public sector they often encounter which heritage should be prioritized to be restored first under the available limited budgets. Only very few techniques are available today to determine the appropriately restoration priorities for the diverse historical heritages, perhaps because of a lack of systematized decision-making aids been proposed before. In the past, the discussions of management and maintenance towards cultural assets were limited to the selection of reuse alternatives instead of the allocation of resources. In view of this, this research will adopt some integrated research methods to solve the existing problems that decision-makers might encounter when allocating resources in the management and maintenance of heritages and historic buildings.
The purpose of this study is to develop a sustainable decision making model for local governments to resolve these problems. We propose an alternative decision support model to prioritize restoration needs within the limited budgets. The model is constructed based on fuzzy Delphi, fuzzy analysis network process (FANP) and goal programming (GP) methods. In order to avoid misallocate resources; this research proposes a precise procedure that can take multi-stakeholders views, limited costs and resources into consideration. Also, the combination of many factors and goals has been taken into account to find the highest priority and feasible solution results. To illustrate the approach we propose in this research, seven cultural heritages in Taipei city as one example has been used as an empirical study, and the results are in depth analyzed to explain the application of our proposed approach.
Keywords: Cultural Heritage, Historic Buildings, Priority Evaluation, Multi-Criteria Decision Making, Goal Programming, Fuzzy Analytic Network Process, Resource Allocation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23122263 A Hybrid Expert System for Generating Stock Trading Signals
Authors: Hosein Hamisheh Bahar, Mohammad Hossein Fazel Zarandi, Akbar Esfahanipour
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In this paper, a hybrid expert system is developed by using fuzzy genetic network programming with reinforcement learning (GNP-RL). In this system, the frame-based structure of the system uses the trading rules extracted by GNP. These rules are extracted by using technical indices of the stock prices in the training time period. For developing this system, we applied fuzzy node transition and decision making in both processing and judgment nodes of GNP-RL. Consequently, using these method not only did increase the accuracy of node transition and decision making in GNP's nodes, but also extended the GNP's binary signals to ternary trading signals. In the other words, in our proposed Fuzzy GNP-RL model, a No Trade signal is added to conventional Buy or Sell signals. Finally, the obtained rules are used in a frame-based system implemented in Kappa-PC software. This developed trading system has been used to generate trading signals for ten companies listed in Tehran Stock Exchange (TSE). The simulation results in the testing time period shows that the developed system has more favorable performance in comparison with the Buy and Hold strategy.
Keywords: Fuzzy genetic network programming, hybrid expert system, technical trading signal, Tehran stock exchange.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18592262 An Inter-banking Auditing Security Solution for Detecting Unauthorised Financial Transactions entered by Authorised Insiders
Authors: C. A. Corzo, N. Zhang, F. Corzo
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Insider abuse has recently been reported as one of the more frequently occurring security incidents, suggesting that more security is required for detecting and preventing unauthorised financial transactions entered by authorised users. To address the problem, and based on the observation that all authorised interbanking financial transactions trigger or are triggered by other transactions in a workflow, we have developed a security solution based on a redefined understanding of an audit workflow. One audit workflow where there is a log file containing the complete workflow activity of financial transactions directly related to one financial transaction (an electronic deal recorded at an e-trading system). The new security solution contemplates any two parties interacting on the basis of financial transactions recorded by their users in related but distinct automated financial systems. In the new definition interorganizational and intra-organization interactions can be described in one unique audit trail. This concept expands the current ideas of audit trails by adapting them to actual e-trading workflow activity, i.e. intra-organizational and inter-organizational activity. With the above, a security auditing service is designed to detect integrity drifts with and between organizations in order to detect unauthorised financial transactions entered by authorised users.Keywords: Intrusion Detection and Prevention, Authentica-transtionand Identification.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15412261 Fair Value Implementation of Financial Asset: Evidence in Indonesia’s Banking Sector
Authors: Alhamdi Alfi Fajri
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The purpose of this study is to analyze and to give empirical proof about the effect of fair value implementation on financial asset against information asymmetry in Indonesia’s banking sector. This research tested the effect of fair value implementation on financial asset based on Statement of Financial Accounting Standard (PSAK) No. 55 and the fair value reliability measurement based on PSAK No. 60 against level of information asymmetry. The scope of research is Indonesia’s banking sector. The test’s result shows that the use of fair value based on PSAK No. 55 is significantly associated with information asymmetry. This positive relation is higher than the amortized cost implementation on financial asset. In addition, the fair value hierarchy based on PSAK No. 60 is significantly associated with information asymmetry. This research proves that the more reliable measurement of fair value on financial asset, the more observable fair value measurement and reduces level of information asymmetry.Keywords: Fair value, PSAK No. 55, PSAK No. 60, information asymmetry, banks.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19532260 Maintenance Alternatives Related to Costs of Wind Turbines Using Finite State Markov Model
Authors: Boukelkoul Lahcen
Abstract:
The cumulative costs for O&M may represent as much as 65%-90% of the turbine's investment cost. Nowadays the cost effectiveness concept becomes a decision-making and technology evaluation metric. The cost of energy metric accounts for the effect replacement cost and unscheduled maintenance cost parameters. One key of the proposed approach is the idea of maintaining the WTs which can be captured via use of a finite state Markov chain. Such a model can be embedded within a probabilistic operation and maintenance simulation reflecting the action to be done. In this paper, an approach of estimating the cost of O&M is presented. The finite state Markov model is used for decision problems with number of determined periods (life cycle) to predict the cost according to various options of maintenance.Keywords: Cost, finite state, Markov model, operation, maintenance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14802259 Service Blueprint for Improving Clinical Guideline Adherence via Mobile Health Technology
Authors: Y. O’Connor, C. Heavin, S. O’ Connor, J. Gallagher, J. Wu, J. O’Donoghue
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Background: To improve the delivery of paediatric healthcare in low resource settings, Community Health Workers (CHW) have been provided with a paper-based set of protocols known as Community Case Management (CCM). Yet research has shown that CHW adherence to CCM guidelines is poor, ultimately impacting health service delivery. Digitising the CCM guidelines via mobile technology is argued in extant literature to improve CHW adherence. However, little research exist which outlines how (a) this process can be digitised and (b) adherence could be improved as a result. Aim: To explore how an electronic mobile version of CCM (eCCM) can overcome issues associated with the paper-based CCM protocol (inadequate adherence to guidelines) vis-à-vis service blueprinting. This service blueprint will outline how (a) the CCM process can be digitised using mobile Clinical Decision Support Systems software to support clinical decision-making and (b) adherence can be improved as a result. Method: Development of a single service blueprint for a standalone application which visually depicts the service processes (eCCM) when supporting the CHWs, using an application known as Supporting LIFE (SL eCCM app) as an exemplar. Results: A service blueprint is developed which illustrates how the SL eCCM app can be utilised by CHWs to assist with the delivery of healthcare services to children. Leveraging smartphone technologies can (a) provide CHWs with just-in-time data to assist with their decision making at the point-of-care and (b) improve CHW adherence to CCM guidelines. Conclusions: The development of the eCCM opens up opportunities for the CHWs to leverage the inherent benefit of mobile devices to assist them with health service delivery in rural settings. To ensure that benefits are achieved, it is imperative to comprehend the functionality and form of the eCCM service process. By creating such a service blueprint for an eCCM approach, CHWs are provided with a clear picture regarding the role of the eCCM solution, often resulting in buy-in from the end-users.Keywords: Adherence, community health workers, developing countries, mobile clinical decision support systems, CDSS, service blueprint.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27202258 Early Warning System of Financial Distress Based On Credit Cycle Index
Authors: Bi-Huei Tsai
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Previous studies on financial distress prediction choose the conventional failing and non-failing dichotomy; however, the distressed extent differs substantially among different financial distress events. To solve the problem, “non-distressed”, “slightlydistressed” and “reorganization and bankruptcy” are used in our article to approximate the continuum of corporate financial health. This paper explains different financial distress events using the two-stage method. First, this investigation adopts firm-specific financial ratios, corporate governance and market factors to measure the probability of various financial distress events based on multinomial logit models. Specifically, the bootstrapping simulation is performed to examine the difference of estimated misclassifying cost (EMC). Second, this work further applies macroeconomic factors to establish the credit cycle index and determines the distressed cut-off indicator of the two-stage models using such index. Two different models, one-stage and two-stage prediction models are developed to forecast financial distress, and the results acquired from different models are compared with each other, and with the collected data. The findings show that the one-stage model has the lower misclassification error rate than the two-stage model. The one-stage model is more accurate than the two-stage model.
Keywords: Multinomial logit model, corporate governance, company failure, reorganization, bankruptcy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2680