Search results for: financial planning

Authors: Pavel K. Lopatin, Artyom S. Yegorov

Abstract:

The Algorithm 2 for a n-link manipulator movement amidst arbitrary unknown static obstacles for a case when a sensor system supplies information about local neighborhoods of different points in the configuration space is presented. The Algorithm 2 guarantees the reaching of a target position in a finite number of steps. The Algorithm 2 is reduced to a finite number of calls of a subroutine for planning a trajectory in the presence of known forbidden states. The polynomial approximation algorithm which is used as the subroutine is presented. The results of the Algorithm2 implementation are given.

Keywords: Manipulator, trajectory planning, unknown obstacles.

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Authors: Zahra Hatami, Hesham Ali, David Volkman

Abstract:

Selecting a portfolio for investing is a crucial decision for individuals and legal entities. In the last two decades, with economic globalization, a stream of financial innovations has rushed to the aid of financial institutions. The importance of selecting stocks for the portfolio is always a challenging task for investors. This study aims to create a financial network to identify optimal portfolios using network centralities metrics. This research presents a community detection technique of superior stocks that can be described as an optimal stock portfolio to be used by investors. By using the advantages of a network and its property in extracted communities, a group of stocks was selected for each of the various time periods. The performance of the optimal portfolios was compared to the famous index. Their Sharpe ratio was calculated in a timely manner to evaluate their profit for making decisions. The analysis shows that the selected potential portfolio from stocks with low centrality measurement can outperform the market; however, they have a lower Sharpe ratio than stocks with high centrality scores. In other words, stocks with low centralities could outperform the S&P500 yet have a lower Sharpe ratio than high central stocks.

Keywords: Portfolio management performance, network analysis, centrality measurements, Sharpe ratio.

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Authors: Andreas L. Savvides

Abstract:

These This paper looks into frameworks which aim at furthering the discussion of the role of regenerative design practices in a city-s historic core and the tool of urban design to achieve urban revitalization on the island of Cyprus. It also examines the region-s demographic mix, the effectiveness of its governmental coordination and the strategies of adaptive reuse and strategic investments in older areas with existing infrastructure. The two main prongs of investigation will consider the effect of the existing and proposed changes in the physical infrastructure and fabric of the city, as well as the catalytic effect of sustainable urban design practices. Through this process, the work hopes to integrate the contained potential within the existing historic core and the contributions and participation of the migrant and immigrant populations to the local economy. It also examines ways in which this coupling of factors can bring to the front the positive effects of this combined effort on an otherwise sluggish local redevelopment effort. The data for this study is being collected and organized as part of ongoing urban design and development student workshop efforts in urban planning and design education. The work is presented in graphic form and includes data collected from interviews with study area organizations and the community at large. Planning work is also based on best practices initiated by the staff of the Nicosia Master Plan task force, which coordinates holistic planning efforts for the historic center of the city of Nicosia.

Keywords: Urban Design, Urban Development, Urban Regeneration, Historic Core, Cultural Planning.

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Authors: Levan Sabauri

Abstract:

Audit is an independent inspection of the financial statement of the audited person and expresses the opinion of an auditor on the reliability of this statement. The auditor’s activity (auditor’s service) is realized by auditing organizations, individual auditors in connection to conduction of an audit and rendering of audit accompanying services. The profession of auditor means a high level of responsibility for rendered service. Results of decisions made by information users depend on the quality of the auditor’s conclusion. Owners, investors, creditors, and society rely on the opinion of the auditor under the condition that inspection was conducted with good quality. Therefore, the existence of the well-functioning audit quality control system for the administering of the audit is an important issue. An efficient audit quality control system is a substantial challenge that many countries face worldwide, especially those states where these systems are being formed within the respective reform program. The presented article reflects on the best practices of the leading countries, the assumptions and recommendations for the financial accounting, reporting and audit; current reforms in Georgia are made based on this comparative analysis.

Keywords: Audit quality control, audit program, financial statement, perspective analysis.

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Authors: Kaveh Mohammad Cyrus, Shadi Sanagoo

Abstract:

MABENA model is a complementary model in comparison with traditional models such as HCMS, CMS and etc. New factors, which have effects on preparation of strategic plans and their sequential order in MABENA model is the platform of presented road map in this paper.Study review shows, factors such as emerging new critical success factors for strategic planning, improvement of international strategic models, increasing the maturity of companies and emerging new needs leading to design a new model which can be responsible for new critical factors and solve the limitations of previous strategic management models. Preparation of strategic planning need more factors than introduced in traditional models. The needed factors includes determining future Critical Success Factors and competencies, defining key processes, determining the maturity of the processes, considering all aspects of the external environment etc. Description of aforementioned requirements, the outcomes and their order is developing and presenting the MABENA model-s road map in this paper. This study presents a road map for strategic planning of the Iranian organizations.

Keywords: Competitive Advantage, Process Maturity, StrategicPlanning, Strategic potential

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Authors: Dimitra Alexiou

Abstract:

During the last 10 years, in spite of the economic crisis, the number of tourists arriving in Greece has increased, particularly during the tourist season from April to October. In this paper, the number of annual tourist arrivals is studied to explore their preferences with regard to the month of travel, the selected destinations, as well the amount of money spent. The collected data are processed with statistical methods, yielding numerical and graphical results. From the computation of statistical parameters and the forecasting with exponential smoothing, useful conclusions are arrived at that can be used by the Greek tourism authorities, as well as by tourist organizations, for planning purposes for the coming years. The results of this paper and the computed forecast can also be used for decision making by private tourist enterprises that are investing in Greece. With regard to the statistical methods, the method of Simple Exponential Smoothing of time series of data is employed. The search for a best forecast for 2017 and 2018 provides the value of the smoothing coefficient. For all statistical computations and graphics Microsoft Excel is used.

Keywords: Tourism, statistical methods, exponential smoothing, land spatial planning, economy, Microsoft Excel.

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Authors: Avelino Mondlane, Karin Hansson, Oliver Popov, Xavier Muianga

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This paper discusses the role and importance of Information and Communication Technologies (ICT) and social Networking (SN) in the process of decision making for Flood Risk and Knowledge Management Strategies. We use Mozambique Red Cross (CVM) as the case study and further more we address scenarios for flood risk management strategies, using earlier warning and social networking and we argue that a sustainable desirable stage of life can be achieved by developing scenario strategic planning based on backcasting.

Keywords: ICT, KM, scenario planning, backcasting and flood risk management.

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Authors: Jai Raj, Jito Vanualailai, Bibhya Sharma, Shonal Singh

Abstract:

This paper proposes a solution to the motion planning and control problem of car-like mobile robots which is required to move safely to a designated target in a priori known workspace cluttered with swarm of boids exhibiting collective emergent behaviors. A generalized algorithm for target convergence and swarm avoidance is proposed that will work for any number of swarms. The control laws proposed in this paper also ensures practical stability of the system. The effectiveness of the proposed control laws are demonstrated via computer simulations of an emergent behavior.

Keywords: Swarm, practical stability, motion planning, emergent.

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Authors: Carey Curtis

Abstract:

There is a renewed interest in land use transport integration as a means of achieving sustainable accessibility. Such accessibility requires designing more than simply the transport network; it also requires attention to place (built form). Transitoriented development would appear to capture many of the criteria deemed important in land use transport integration. In Perth, Australia, there have been planning policies for the past 20 years requiring transit-oriented development around railway stations throughout the metropolitan area. While the policy intent, particularly at the State level, is clear the implementation of policy has been fairly ineffective. The first part of this paper provides an examination of state and local government planning and transport policies, evaluating them using a set of land use transport integration criteria considered all encompassing. This provides some insight into the extent of state and local government capacity to deliver land use transport integration. The second part of this paper examines the extent of implementation by examining existing and proposed land use around station precincts throughout metropolitan Perth. The findings of this research suggest that the capacity of state and local government to deliver land use transport integration is reasonable in a planning policy sense. Implementation, despite long policy lead times, has been lacking. It appears to be more effective where local planning controls have been suspended with new redevelopment authorities given powers to develop land around railway stations.

Keywords: Transit-oriented development, sustainable transport, transport policy.

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Authors: H. Fallah, Z. Naddaf Baghdadabadi

Abstract:

Planning of economic activities development has various dimensions one of which determines adequate capacity of economic activities in provinces regarding the government-s goals. Paralleling planning goals of economic activities development including subjects being focused on the view statement is effective to better realize the statement's goals. Current paper presents a native framework for economic activities development in provincial level. Triple steps within the framework are concordant with the view statement-s goals achievement. At first step of the proposed framework, economic activities are being prioritized in terms of employment indices, and secondly economic activities regarding to the province's relative advantages are being recognized. In the third step, desirable capacity of economic activities is determined with regards to the government's goals and effective constraints in economic activities development. Development of economic activities related to the provinces- relative advantages, contributes on regional balance and on equal development of economic activities. Furthermore, results of the framework enable more confident investment, affect employment development and remove unemployment concern as the main goals of the view statement.

Keywords: Development, economic activity, regional planning, view statement.

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Authors: Omid Mirmotahari, Yngvar Berg, Mats Hovin

Abstract:

The problem discussed in this paper involves packing fresh fish fileet of the northern Cod into a standard square container. The fish is first cleaned and split and then collected on a belt ready to be stacked in a container. The aim of our work is to pack the fish into the container with constraints on the amount of overlap allowed for the fileets. The current focus is to design a packing cell that can be real-time and of practical use, while finding the optimal solution to the degree of overlap and minimise the unused space of the container.

Keywords: Facilities Planning and Management, Intelligent Systems, Manufacturing Systems, Operations Research, Production Planning and Control.

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Authors: Vinay Kumar Pilania, Debashish Chakravarty

Abstract:

The present paper represent the efforts undertaken for the development of an semi-automatic robot that may be used for various post-disaster rescue operation planning and their subsequent execution using one-way communication of video and data from the robot to the controller and controller to the robot respectively. Wireless communication has been used for the purpose so that the robot may access the unapproachable places easily without any difficulties. It is expected that the information obtained from the robot would be of definite help to the rescue team for better planning and execution of their operations.

Keywords: Mine environment, mine navigation, mine rescue robot, video data transmission.

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Authors: Raif Parlakkaya, Huseyin Cetin, Halil Akmese, Mesut Murat Adabali

Abstract:

As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators.

Keywords: Financial Problems, The problems of Tourism businesses, Tourism Businesses, Tourism Sector in Turkey.

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Authors: Serin Lee, Takashi Kubota, Ichiro Nakatani

Abstract:

The approaches to make an agent generate intelligent actions in the AI field might be roughly categorized into two ways–the classical planning and situated action system. It is well known that each system have its own strength and weakness. However, each system also has its own application field. In particular, most of situated action systems do not directly deal with the logical problem. This paper first briefly mentions the novel action generator to situatedly extract a set of actions, which is likely to help to achieve the goal at the current situation in the relaxed logical space. After performing the action set, the agent should recognize the situation for deciding the next likely action set. However, since the extracted action is an approximation of the action which helps to achieve the goal, the agent could be caught into the deadlock of the problem. This paper proposes the newly developed hybrid architecture to solve the problem, which combines the novel situated action generator with the conventional planner. The empirical result in some planning domains shows that the quality of the resultant path to the goal is mostly acceptable as well as deriving the fast response time, and suggests the correlation between the structure of problems and the organization of each system which generates the action.

Keywords: Situated reasoning, situated action, planning, hybrid architecture

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Authors: Faris Elghaish, Sepehr Abrishami, Mark Gaterell, Richard Wise

Abstract:

The collaboration and integration between all building information management (BIM) processes and tasks are necessary to ensure that all project objectives can be delivered. The literature review has been used to explore the state of the art BIM technologies to manage construction materials as well as the challenges which have faced the construction process using traditional methods. Thus, this paper aims to articulate a framework to integrate traditional material planning methods such as ABC analysis theory (Pareto principle) to analyse and categorise the project materials, as well as using independent material planning methods such as Economic Order Quantity (EOQ) and Fixed Order Point (FOP) into the BIM 4D, and 5D capabilities in order to articulate a dependent material planning cycle into BIM, which relies on the constructability method. Moreover, we build a model to connect between the material planning outputs and the BIM 4D and 5D data to ensure that all project information will be accurately presented throughout integrated and complementary BIM reporting formats. Furthermore, this paper will present a method to integrate between the risk management output and the material management process to ensure that all critical materials are monitored and managed under the all project stages. The paper includes browsers which are proposed to be embedded in any 4D BIM platform in order to predict the EOQ as well as FOP and alarm the user during the construction stage. This enables the planner to check the status of the materials on the site as well as to get alarm when the new order will be requested. Therefore, this will lead to manage all the project information in a single context and avoid missing any information at early design stage. Subsequently, the planner will be capable of building a more reliable 4D schedule by allocating the categorised material with the required EOQ to check the optimum locations for inventory and the temporary construction facilitates.

Keywords: Building information management, BIM, economic order quantity, fixed order point, BIM 4D, BIM 5D.

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Authors: Siliang Wang, Minghui Wang, Jun Hu

Abstract:

A novel path planning approach is presented to solve optimal path in stochastic, time-varying networks under priori traffic information. Most existing studies make use of dynamic programming to find optimal path. However, those methods are proved to be unable to obtain global optimal value, moreover, how to design efficient algorithms is also another challenge. This paper employs a decision theoretic framework for defining optimal path: for a given source S and destination D in urban transit network, we seek an S - D path of lowest expected travel time where its link travel times are discrete random variables. To solve deficiency caused by the methods of dynamic programming, such as curse of dimensionality and violation of optimal principle, an integer programming model is built to realize assignment of discrete travel time variables to arcs. Simultaneously, pruning techniques are also applied to reduce computation complexity in the algorithm. The final experiments show the feasibility of the novel approach.

Keywords: pruning method, stochastic, time-varying networks, optimal path planning.

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Authors: Naveed Ghani, Samreen Javed

Abstract:

In today’s heterogeneous network environment, there is a growing demand for distrust clients to jointly execute secure network to prevent from malicious attacks as the defining task of propagating malicious code is to locate new targets to attack. Residual risk is always there no matter what solutions are implemented or whet so ever security methodology or standards being adapted. Security is the first and crucial phase in the field of Computer Science. The main aim of the Computer Security is gathering of information with secure network. No one need wonder what all that malware is trying to do: It's trying to steal money through data theft, bank transfers, stolen passwords, or swiped identities. From there, with the help of our survey we learn about the importance of white listing, antimalware programs, security patches, log files, honey pots, and more used in banks for financial data protection but there’s also a need of implementing the IPV6 tunneling with Crypto data transformation according to the requirements of new technology to prevent the organization from new Malware attacks and crafting of its own messages and sending them to the target. In this paper the writer has given the idea of implementing IPV6 Tunneling Secessions on private data transmission from financial organizations whose secrecy needed to be safeguarded.

Keywords: Network worms, malware infection propagating malicious code, virus, security, VPN.

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Authors: K. Oh, J. P. Hwang, E. Kim, H. Lee

Abstract:

This paper presents an algorithm which extends the rapidly-exploring random tree (RRT) framework to deal with change of the task environments. This algorithm called the Retrieval RRT Strategy (RRS) combines a support vector machine (SVM) and RRT and plans the robot motion in the presence of the change of the surrounding environment. This algorithm consists of two levels. At the first level, the SVM is built and selects a proper path from the bank of RRTs for a given environment. At the second level, a real path is planned by the RRT planners for the given environment. The suggested method is applied to the control of KUKA™,, a commercial 6 DOF robot manipulator, and its feasibility and efficiency are demonstrated via the cosimulatation of MatLab™, and RecurDyn™,.

Keywords: Path planning, RRT, 6 DOF manipulator, SVM.

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Authors: Nargess Mottaghi Golshan, Siti Zaleha Abdul Rasid

Abstract:

Purpose:This paper aims to gain insights to the influential factors of ERM adoptions by public listed firms in Malaysia. Findings:The two factors of financial leverage and auditor type were found to be significant influential factors for ERM adoption. In other words the findings indicated that firms with higher financial leverage and with a Big Four auditor are more likely to have a form of ERM framework in place. Originality/Value:Since there are relatively few studies conducted in this area and specially in developing economies like Malaysia, this study will broaden the scope of literature by providing novel empirical evidence.

Keywords: Enterprise risk management, risk, public listed company.

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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: Lorenzo Maiorino, Fabio Fortuna, Giovanni Panebianco, Marco Sanzari, Gabriella Arcese, Valerio Maria Paolozzi

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It is well known that sport is a factor of social cohesion and the breaking down of barriers between people. From this point of view, the aim is to demonstrate how, through the (re)generation of sustainable structures, it is possible to give life to a new social, cultural and economic pathway, where possible, in peripheral areas with problems of abandonment and degradation. The aim of this paper is therefore to study realities such as European programs and funds and to highlight the ways in which planning can be used to respond to critical issues such as urban decay, abandonment, and the mitigation of social differences. For this reason, the analysis will be carried out through the Multiannual Financial Framework (MFF) package, the next generation EU, the Recovery and Resilience Facility (RRF), the Cohesion Fund, the European Social Fund, and other managed funds. The procedure will rely on sources and data of unquestionable origin, and the relation to the object of study in question will be highlighted. The project lends itself to be ambitious and explore a further aspect of the sports theme, which as we know, is one of the foundations for a healthy society

.

Keywords: Sport, social inclusion, urban regeneration, sport facilities, European funds.

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Authors: A. R. Seifi

Abstract:

This work presents a new algorithm based on a combination of fuzzy (FUZ), Dynamic Programming (DP), and Genetic Algorithm (GA) approach for capacitor allocation in distribution feeders. The problem formulation considers two distinct objectives related to total cost of power loss and total cost of capacitors including the purchase and installation costs. The novel formulation is a multi-objective and non-differentiable optimization problem. The proposed method of this article uses fuzzy reasoning for sitting of capacitors in radial distribution feeders, DP for sizing and finally GA for finding the optimum shape of membership functions which are used in fuzzy reasoning stage. The proposed method has been implemented in a software package and its effectiveness has been verified through a 9-bus radial distribution feeder for the sake of conclusions supports. A comparison has been done among the proposed method of this paper and similar methods in other research works that shows the effectiveness of the proposed method of this paper for solving optimum capacitor planning problem.

Keywords: Capacitor planning, Fuzzy logic method, Genetic Algorithm, Dynamic programming, Radial Distribution feeder

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Authors: Carlos Sanchís-Pedregosa, María del Mar González-Zamora, José A. D. Machuca

Abstract:

Logistics outsourcing is a growing trend and measuring its performance, a challenge. It must be consistent with the objectives set for logistics outsourcing, but we have found no objective-based performance measurement system. We have conducted a comprehensive review of the specialist literature to cover this gap, which has led us to identify and define these objectives. The outcome is that we have obtained a list of the most relevant objectives and their descriptions. This will enable us to analyse in a future study whether the indicators used for measuring logistics outsourcing performance are consistent with the objectives pursued with the outsourcing. If this is not the case, a proposal will be made for a set of financial and operational indicators to measure performance in logistics outsourcing that take the goals being pursued into account.

Keywords: Outsourcing, Performance measurement, Logistics, Objectives, Indicators

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Authors: Korbi Fakhri

Abstract:

In this article, we have elaborated a study over the nature of financial intermediation in Islamic banks by comparison to those of conventional ones. We have found a striking difference between two kinds of intermediation. We tried, from another side, to study the relationship between the capital level and deficiency risk relying on econometric model, and we have obtained a positive and significant relation between the capital and the deficiency risk for the conventional banks. This means that when the capital of these banks increases, the deficiency risk increases as well. In return, since the Islamic banks are constrained to respect the Sharia Committee as well as customers’ demands that may, in certain contracts, choose to invest their capitals in projects they are interested in. These constraints have as effects to reduce the deficiency risk even when the capital increases.

Keywords: Conventional bank, deficiency risk, financial intermediation, Islamic bank.

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Authors: Jean Berger, Mohamed Barkaoui

Abstract:

Discrete search path planning in time-constrained uncertain environment relying upon imperfect sensors is known to be hard, and current problem-solving techniques proposed so far to compute near real-time efficient path plans are mainly bounded to provide a few move solutions. A new information-theoretic –based open-loop decision model explicitly incorporating false alarm sensor readings, to solve a single agent military logistics search-and-delivery path planning problem with anticipated feedback is presented. The decision model consists in minimizing expected entropy considering anticipated possible observation outcomes over a given time horizon. The model captures uncertainty associated with observation events for all possible scenarios. Entropy represents a measure of uncertainty about the searched target location. Feedback information resulting from possible sensor observations outcomes along the projected path plan is exploited to update anticipated unit target occupancy beliefs. For the first time, a compact belief update formulation is generalized to explicitly include false positive observation events that may occur during plan execution. A novel genetic algorithm is then proposed to efficiently solve search path planning, providing near-optimal solutions for practical realistic problem instances. Given the run-time performance of the algorithm, natural extension to a closed-loop environment to progressively integrate real visit outcomes on a rolling time horizon can be easily envisioned. Computational results show the value of the approach in comparison to alternate heuristics.

Keywords: Search path planning, false alarm, search-and-delivery, entropy, genetic algorithm.

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Authors: Joanna Stawska

Abstract:

The main objective of this article is to examine the impact of interest rates on investments in Poland in the context of financial crisis. The paper also investigates the dependence of bank loans to enterprises on interbank market rates. The article studies the impact of interbank market rate on the level of investments in Poland. Besides, this article focuses on the research of the correlation between the level of corporate loans and the amount of investments in Poland in order to determine the indirect impact of central bank interest rates through the transmission mechanism of monetary policy on the real economy. To achieve the objective we have used econometric and statistical research methods like: econometric model and Pearson correlation coefficient. This analysis suggests that the central bank reference rate inversely proportionally affects the level of investments in Poland and this dependence is moderate. This is also important issue because it is related to preparing of Poland to accession to euro area. The research is important from both theoretical and empirical points of view. The formulated conclusions and recommendations determine the practical significance of the paper which may be used in the decision making process of monetary and economic authorities of the country.

Keywords: Central bank, financial crisis, interest rate, investments.

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Authors: Pavel K. Lopatin, Artyom S. Yegorov

Abstract:

An exact algorithm for a n-link manipulator movement amidst arbitrary unknown static obstacles is presented. The algorithm guarantees the reaching of a target configuration of the manipulator in a finite number of steps. The algorithm is reduced to a finite number of calls of a subroutine for planning a trajectory in the presence of known forbidden states. The polynomial approximation algorithm which is used as the subroutine is presented. The results of the exact algorithm implementation for the control of a seven link (7 degrees of freedom, 7DOF) manipulator are given.

Keywords: Manipulator, trajectory planning, unknown obstacles

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Authors: Zohreh Soltani, Seyedmohammadhossein Hosseinian

Abstract:

Reduction of energy consumption in built infrastructure, through the installation of energy-efficient technologies, is a major approach to achieving sustainability. In practice, the viability of energy efficiency projects strongly depends on the cost reimbursement and profitability. These projects are subject to failure if the actual cost savings do not reimburse the project cost promptly. In such cases, refinancing could be a solution to benefit from the long-term returns of the project, if implemented wisely. However, very little is still known about the effect of refinancing options on financial performance of energy efficiency projects. In order to fill this gap, the present study investigates the financial behavior of energy efficiency projects with focus on refinancing options, such as Leveraged Loans. A System Dynamics (SD) model is introduced, and the model application is presented using an actual case-study data. The case study results indicate that while high-interest start-ups make using Leveraged Loan inevitable, refinancing can rescue the project and bring about profitability. This paper also presents some managerial implications of refinancing energy efficiency projects based on the case-study analysis. Results of this study help to implement financially viable energy efficiency projects so that the community could benefit from their environmental advantages widely.

Keywords: Energy efficiency projects, leveraged loan, refinancing, sustainability.

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Authors: Gholamreza Momenzadeh, Forough Nematolahi

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The Extended Enterprise Resource Planning (ERPII) system usually requires massive amounts of storage space, powerful servers, and large upfront and ongoing investments to purchase and manage the software and the related hardware which are not affordable for organizations. In recent decades, organizations prefer to adapt their business structures with new technologies for remaining competitive in the world economy. Therefore, cloud computing (which is one of the tools of information technology (IT)) is a modern system that reveals the next-generation application architecture. Also, cloud computing has had some advantages that reduce costs in many ways such as: lower upfront costs for all computing infrastructure and lower cost of maintaining and supporting. On the other hand, traditional ERPII is not responding for huge amounts of data and relations between the organizations. In this study, based on a literature study, ERPII is investigated in the context of cloud computing where the organizations operate more efficiently. Also, ERPII conditions have a response to needs of organizations in large amounts of data and relations between the organizations.

Keywords: Extended enterprise resource planning, cloud computing, business process, enterprise information integration.

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Authors: Ondřej Nowak

Abstract:

This paper presents an exploration into the structure of the corporate governance network and interlocking directorates in the Czech Republic. First a literature overview and a basic terminology of the network theory is presented. Further in the text, statistics and other calculations relevant to corporate governance networks are presented. For this purpose an empirical data set consisting of 2 906 joint stock companies in the Czech Republic was examined. Industries with the highest average number of interlocks per company were healthcare, and energy and utilities. There is no observable link between the financial performance of the company and the number of its interlocks. Also interlocks with financial companies are very rare.

Keywords: Corporate Governance, Interlocking Directorates, Network Theory, Czech Republic.

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