Search results for: financial instruments

Authors: Nikoloudi Anastasia, Tsalampouni Aikaterini

Abstract:

The present paper aims to present the significant role that the concept of governance can play in order to combine naturals resources as useful funding basis for the formation of a stable and effective welfare state model. The combination of those two different fields aims to represent the modern trends of our era as the means to solve the severe financial and economic issues caused mostly due to the malfunction of the welfare state and its public sector. European Union and Asian countries (especially China) are the main areas of interest since EU experiences a fiscal and economic crisis while China rules the area of the natural resources exploiting 97% of rare earths elements worldwide.

Keywords: Governance, natural resources, rare earths elements, welfare state.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2027

Authors: Edwaldo R. B. Monteiro, Patricia D. M. Plentz, Edson R. De Pieri

Abstract:

Mobile robotics is gaining an increasingly important role in modern society. Several potentially dangerous or laborious tasks for human are assigned to mobile robots, which are increasingly capable. Many of these tasks need to be performed within a specified period, i.e, meet a deadline. Missing the deadline can result in financial and/or material losses. Mechanisms for predicting the missing of deadlines are fundamental because corrective actions can be taken to avoid or minimize the losses resulting from missing the deadline. In this work we propose a simple but reliable deadline missing prediction mechanism for mobile robots through the use of historical data and we use the Pioneer 3-DX robot for experiments and simulations, one of the most popular robots in academia.

Keywords: Deadline missing, historical data, mobile robots, prediction mechanism.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1767

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.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3444

Authors: I. Lucas, N. Schomberg, F-A. Couturier

Abstract:

Most empirical studies have analyzed how liquidity risks faced by individual institutions turn into systemic risk. Recent banking crisis has highlighted the importance of grasping and controlling the systemic risk, and the acceptance by Central Banks to ease their monetary policies for saving default or illiquid banks. This last point shows that banks would pay less attention to liquidity risk which, in turn, can become a new important channel of loss. The financial regulation focuses on the most important and “systemic” banks in the global network. However, to quantify the expected loss associated with liquidity risk, it is worth to analyze sensitivity to this channel for the various elements of the global bank network. A small bank is not considered as potentially systemic; however the interaction of small banks all together can become a systemic element. This paper analyzes the impact of medium and small banks interaction on a set of banks which is considered as the core of the network. The proposed method uses the structure of agent-based model in a two-class environment. In first class, the data from actual balance sheets of 22 large and systemic banks (such as BNP Paribas or Barclays) are collected. In second one, to model a network as closely as possible to actual interbank market, 578 fictitious banks smaller than the ones belonging to first class have been split into two groups of small and medium ones. All banks are active on the European interbank network and have deposit and market activity. A simulation of 12 three month periods representing a midterm time interval three years is projected. In each period, there is a set of behavioral descriptions: repayment of matured loans, liquidation of deposits, income from securities, collection of new deposits, new demands of credit, and securities sale. The last two actions are part of refunding process developed in this paper. To strengthen reliability of proposed model, random parameters dynamics are managed with stochastic equations as rates the variations of which are generated by Vasicek model. The Central Bank is considered as the lender of last resort which allows banks to borrow at REPO rate and some ejection conditions of banks from the system are introduced.

Liquidity crunch due to exogenous crisis is simulated in the first class and the loss impact on other bank classes is analyzed though aggregate values representing the aggregate of loans and/or the aggregate of borrowing between classes. It is mainly shown that the three groups of European interbank network do not have the same response, and that intermediate banks are the most sensitive to liquidity risk.

Keywords: Systemic Risk, Financial Contagion, Liquidity Risk, Interbank Market, Network Model.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1987

Authors: D. Seenivasan, K. Shanthi

Abstract:

Botnets are one of the most serious and widespread cyber threats. Today botnets have been facilitating many cybercrimes, especially financial, top secret thefts. Botnets can be available for lease in the market and are utilized by the cybercriminals to launch massive attacks like DDoS, click fraud, phishing attacks etc., Several large institutions, hospitals, banks, government organizations and many social networks such as twitter, facebook etc., became the target of the botmasters. Recently, noteworthy researches have been carried out to detect bot, C&C channels, botnet and botmasters. Using many sophisticated technologies, botmasters made botnet a titan of the cyber world. Innumerable challenges have been put forth by the botmasters to the researchers in the detection of botnet. In this paper we present a survey of different types of botnet C&C channels and also provide a comparison of various botnet categories. Finally we hope that our survey will create awareness for forthcoming botnet research endeavors.

Keywords: Bot, Botmaster, Botnet, Botnet cloud, Mobile Botnet.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4081

Authors: Alan Dormer

Abstract:

Business rules are widely used within the services sector. They provide consistency and allow relatively unskilled staff to process complex transactions correctly. But there are many examples where the rules themselves have an impact on the costs and profits of an organisation. Financial services, transport and human services are areas where the rules themselves can impact the bottom line in a predictable way. If this is the case, how can we find that set of rules that maximise profit, performance or customer service, or any other key performance indicators? The manufacturing, energy and process industries have embraced mathematical optimisation techniques to improve efficiency, increase production and so on. This paper explores several real world (but simplified) problems in the services sector and shows how business rules can be optimised. It also examines the similarities and differences between the service and other sectors, and how optimisation techniques could be used to deliver similar benefits.

Keywords: Business rules, services, optimisation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1578

Authors: András Király, Tamás Varga, János Abonyi

Abstract:

Since supply chains highly impact the financial performance of companies, it is important to optimize and analyze their Key Performance Indicators (KPI). The synergistic combination of Particle Swarm Optimization (PSO) and Monte Carlo simulation is applied to determine the optimal reorder point of warehouses in supply chains. The goal of the optimization is the minimization of the objective function calculated as the linear combination of holding and order costs. The required values of service levels of the warehouses represent non-linear constraints in the PSO. The results illustrate that the developed stochastic simulator and optimization tool is flexible enough to handle complex situations.

Keywords: stochastic processes, empirical distributions, Monte Carlo simulation, PSO, supply chain management

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2047

Authors: Wondwosen Teshome B.

Abstract:

Since 1991 Ethiopia has officially adopted multi-party democracy. At present, there are 89 registered political parties in the country. Though political parties play an important role in the functioning of a democratic government, how to fund them is an issue of major concern. Political parties and individual candidates running for political office have to raise funds for election campaigns, and to survive as political candidates. The aim of this paper is to examine party funding problems in Africa by taking the case of Ethiopia as an example. The paper also evaluates the motives of local and international donors in giving financial and material support to political parties in emerging democracies and assesses the merits and de-merits of their donations.

Keywords: Africa, State funding, Ethiopia, Political finance, Political party, Western donors.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2091

Authors: Ingrid Göpfert, Michael Stephan, Wanja Wellbrock, Malte Ackermann

Abstract:

Empirical insights into the implementation of logistics competencies at the top management level are scarce. This paper addresses this issue with an explorative approach which is based on a dataset of 872 observations in the years 2000, 2004 and 2008 using quantitative content analysis from annual reports of the 500 publicly listed firms with the highest global research and development expenditures according to the British Department for Business Innovation and Skills. We find that logistics competencies are more pronounced in Asian companies than in their European or American counterparts. On an industrial level the results are quite mixed. Using partial point-biserial correlations we show that logistics competencies are positively related to financial performance.

Keywords: Logistics, supply chain management, content analysis, executive boards, multinational corporations.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2086

Authors: Ana Paula Monte, Christiane Fontenete

Abstract:

As current business environment is demanding a constant adaptation of companies, the planning and strategic management should be an ongoing and natural process in all kind of organizations. The use of management and monitoring strategic performance tools such as the Balanced Scorecard (BSC) have been popular; even to Small and Medium-sized Enterprises. This paper aims to investigate whether the BSC is being used in monitoring the performance of small businesses, particularly in small fuel retailers companies, which are competing in co-branding; and if not, it aims to identify its strategic orientation in order to recommend a possible strategy map for those managers that are willing to adopt this model as an alternative to traditional ones for organizational performance evaluation, which often focus only on evaluation of the organizational financial performance.

Keywords: Balanced Scorecard, Performance Management and Evaluation, SMEs, Strategy Maps

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4136

Authors: H. Al-Khalaifa, A. Al-Nasser

Abstract:

The viewpoint towards the use of drugs or vaccines against avian parasitic diseases is one of the most striking challenges in avian medical parasitology. This includes many difficulties associated with drug resistance and in developing prophylactic vaccines. In many instances, the potential success of a vaccination in controlling parasitic diseases in poultry is well-documented. However, some medical, technical and financial limitations are still paramount. On the other hand, chemotherapy is not very well-recommended due to a number of medical limitations. But in the absence of an effective vaccine, drugs are used against parasitic diseases. This paper sheds light on some the advantages and disadvantages of using vaccination and drugs in controlling parasitic diseases in poultry species. The usage of chemotherapeutic drugs is discussed with some examples. Then, more light will be shed on using vaccines as a potentially effective and promising control tool.

Keywords: Drugs, parasitology, poultry, vaccines.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1319

Authors: Ali Safdari-Vaighani

Abstract:

Pricing financial contracts on several underlying assets received more and more interest as a demand for complex derivatives. The option pricing under asset price involving jump diffusion processes leads to the partial integral differential equation (PIDEs), which is an extension of the Black-Scholes PDE with a new integral term. The aim of this paper is to show how basket option prices in the jump diffusion models, mainly on the Merton model, can be computed using RBF based approximation methods. For a test problem, the RBF-PU method is applied for numerical solution of partial integral differential equation arising from the two-asset European vanilla put options. The numerical result shows the accuracy and efficiency of the presented method.

Keywords: Radial basis function, basket option, jump diffusion, RBF-PUM.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1176

Authors: Theodosios Tsiakis, George Stephanides, George Pekos

Abstract:

The growth of open networks created the interest to commercialise it. The establishment of an electronic business mechanism must be accompanied by a digital – electronic payment system to transfer the value of transactions. Financial organizations are requested to offer a secure e-payment synthesis with equivalent level of security served in conventional paper-based payment transactions. PKI, which is functioning as a chain of trust in security architecture, can enable security services of cryptography to epayments, in order to take advantage of the wider base either of customer or of trading partners and the reduction of cost transaction achieved by the use of Internet channels. The paper addresses the possibilities and the implementation suggestions of PKI in relevance to electronic payments by suggesting a framework that should be followed.

Keywords: Electronic Payment, Security, Trust

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1386

Authors: E. Rak

Abstract:

The aim of the paper is to identify some of the specific characteristics of employee development, as observed in the practice of small enterprises in Poland. Results suggest that a sizeable percentage of employers are not interested in improving the development of their employee base. This aspect is often perceived as insignificant. In addition, many employers have no theoretical or practical knowledge of employee development methods. Lack of sufficient financial support is reported as third on the list of the most important barriers to employee development. Employees, on the other hand, typically offload the responsibility of initiating this type of activities onto the employer. Employee development plans are typically flexible and accommodating. The original value offered by this research comes in the form of a detailed characteristics of employee development in small enterprises, accompanied by identification of specificity of human resource development in Polish companies.

Keywords: Employee development specificity, human resources development, small businesses, trainings.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1005

Authors: Ahmad Munawar

Abstract:

The provision of urban public transport in Indonesia is not free of problems. Some of the problems include: an overall lack of capacity, lack of quality and choice, severe traffic congestions and insufficient fund to renew and repair vehicles. Generally, the comfort and quality of the city bus is poor, and many of the vehicles are dilapidated and dirty. Surveys were carried out in the city of Yogyakarta, by counting city bus vehicles and occupancies, interviewing the bus passengers, drivers and institutional staffs, who involve in public transport management. This paper will then analyze the possible plan to develop the public transport system to become more attractive and to improve the public transport management. The short, medium and long term plans are analyzed, to find the best solutions. Some constraints such as social impacts and financial impact are also taken into accounts.

Keywords: City bus, management, public transport.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3214

Authors: Lucian Munteanu

Abstract:

The move towards internationalization of accounting encountered a great boost, when in 2002 EU delegated the IASB to provide the accounting standards to be applied inside its frontiers. Among the incentives of the standardization of accounting on the international level, is the reduction of the cost of capital. Romania made the move towards IFRS before EU, when the country was not yet a member of it. Even if this made Romania a special case, it was scarcely approached. The leak of real data is usually the reason for avoiding. The novelty of this paper is that it offers an insight from the reality of Romanian companies and their view regarding the IFRS. The paper is based on a survey that the authors made among the companies listed on the first two tiers of the Bucharest Stock Exchange (BSE), which are basically, the most important companies in the country.

Keywords: Cost of capital, IFRS, information asymmetry, transparency.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2649

Authors: George Cristian Gruia, Michal Kavan

Abstract:

The article describes a case study on one of Czech Republic-s manufacturing middle size enterprises (ME), where due to the European financial crisis, production lines had to be redesigned and optimized in order to minimize the total costs of the production of goods. It is considered an optimization problem of minimizing the total cost of the work load, according to the costs of the possible locations of the workplaces, with an application of the Greedy algorithm and a partial analogy to a Set Packing Problem. The displacement of working tables in a company should be as a one-toone monotone increasing function in order for the total costs of production of the goods to be at minimum. We use a heuristic approach with greedy algorithm for solving this linear optimization problem, regardless the possible greediness which may appear and we apply it in a Czech ME.

Keywords: Czech, greedy algorithm, minimize, total costs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1585

Authors: C. Rogerson, E. Scott

Abstract:

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

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

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1651

Authors: Afonso, S. C., Fernandes, P. O., Monte, A. P.

Abstract:

Modern times call organizations to have an active role in the social arena, through Corporate Social Responsibility (CSR). The objective of this research was to test the hypothesis that there is a positive relation between social performance and economic performance, and if there is a positive correlation between social performance and financial-economic performance. To test these theories a measure of social performance, based on the Green Book of Commission of the European Community, was used in a group of nineteen Portuguese top companies, listed on the PSI 20 index, through a period of five years, since 2005 to 2009. A clusters analysis was applied to group companies by their social performance and to compare and correlate their economic performance. Results indicate that companies that had a better social performance are not the ones who had a better economic performance, and suggest that the middle path might provide a good relation CSR-Economic performance, as a basis to a sustainable development.

Keywords: Corporate Social Responsibility, Economic Performance, Win-Win relationship

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2372

Authors: Rohit Gupta, Ravinder Agarwal

Abstract:

Surface electromyographic (sEMG) signal has the potential to identify the human activities and intention. This potential is further exploited to control the artificial limbs using the sEMG signal from residual limbs of amputees. The paper deals with the development of multichannel cost efficient sEMG signal interface for research application, along with evaluation of proposed class dependent statistical approach of the feature selection method. The sEMG signal acquisition interface was developed using ADS1298 of Texas Instruments, which is a front-end interface integrated circuit for ECG application. Further, the sEMG signal is recorded from two lower limb muscles for three locomotions namely: Plane Walk (PW), Stair Ascending (SA), Stair Descending (SD). A class dependent statistical approach is proposed for feature selection and also its performance is compared with 12 preexisting feature vectors. To make the study more extensive, performance of five different types of classifiers are compared. The outcome of the current piece of work proves the suitability of the proposed feature selection algorithm for locomotion recognition, as compared to other existing feature vectors. The SVM Classifier is found as the outperformed classifier among compared classifiers with an average recognition accuracy of 97.40%. Feature vector selection emerges as the most dominant factor affecting the classification performance as it holds 51.51% of the total variance in classification accuracy. The results demonstrate the potentials of the developed sEMG signal acquisition interface along with the proposed feature selection algorithm.

Keywords: Classifiers, feature selection, locomotion, sEMG.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1453

Authors: R. Nootjarat, W. Chantatub, P. Chongstitvatana

Abstract:

This research attempts to explore gaps in Information Systems (IS) and innovation literatures by developing a model of Information Technology (IT) capability in enabling innovation. The research was conducted by using semi-structured interview with six innovators in business consulting, financial, healthcare and academic organizations. The interview results suggest four elements of ITenabled innovation capability which are information (ability to capture ideas and knowledge), connectivity (ability to bridge geographical boundary and mobilize human resources), communication (ability to attain and engage relationships between human resources) and transformation (ability to change the functions and process integrations) in defining IT-enabled innovation platform. The results also suggests innovators- roles and IT capability.

Keywords: Innovation Platform, IT Capability, Innovators, Innovation Delivery

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1355

Authors: M. Khosravy-el-Hossani, Q. Dorosti

Abstract:

One of the important applications of gas turbines is their utilization for heat recovery steam generator in combine-cycle technology. Exhaust flow and energy are two key parameters for determining heat recovery steam generator performance which are mainly determined by the main gas turbine components performance data. For this reason a method was developed for determining the exhaust energy in the new edition of ASME PTC22. The result of this investigation shows that the method of standard has considerable error. Therefore in this paper a new method is presented for modifying of the performance calculation. The modified method is based on exhaust gas constituent analysis and combustion calculations. The case study presented here by two kind of General Electric gas turbine design data for validation of methodologies. The result shows that the modified method is more precise than the ASME PTC22 method. The exhaust flow calculation deviation from design data is 1.5-2 % by ASME PTC22 method so that the deviation regarding with modified method is 0.3-0.5%. Based on precision of analyzer instruments, the method can be suitable alternative for gas turbine standard performance test. In advance two methods are proposed based on known and unknown fuel in modified method procedure. The result of this paper shows that the difference between the two methods is below than %0.02. In according to reasonable esult of the second procedure (unknown fuel composition), the method can be applied to performance evaluation of gas turbine, so that the measuring cost and data gathering should be reduced.

Keywords: Gas turbine, Performance test code, Combined cycle.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2954

Authors: Bassam Baroma

Abstract:

The main objective of this study is to test the relationship between numbers of variables representing the firm characteristics (market-related variables) and the extent of voluntary disclosure levels (forward-looking disclosure) in the annual reports of Egyptian firms listed on the Egyptian Stock Exchange. The results show that audit firm size is significantly positively correlated (in all the three years) with the level of forward-looking disclosure. However, industry type variable (which divided to: industries, cement, construction, petrochemicals and services), is found being insignificantly association with the level of forward-looking information disclosed in the annual reports for all the three years.

Keywords: Forward-looking disclosure, market-related variables, annual reports, Egyptian Stock Exchange.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2420

Authors: Eirini Petratou, Pezirkianidis Christos, Anastassios Stalikas

Abstract:

Nostalgia is characterized as a mental state of human’s emotional longing for the past that activates both positive and negative emotions. The bittersweet emotions that are activated by nostalgia aid psychological functions to humans and are depended on the type of stimuli that evoke nostalgia but also on the nostalgia activation context. In general, despite that nostalgia can be activated and experienced by all people; however, it differs both in terms of nostalgia experience but also nostalgia frequency. As a matter of fact, nostalgia experience along with nostalgia frequency differs according to the level of the nostalgia proneness. People with high nostalgia proneness tend to experience nostalgia more intensely and frequently than people with low nostalgia proneness. Nostalgia proneness is considered as a basic individual difference that affects the experience of nostalgia, and it can be measured by the Southampton Nostalgia Scale (SNS); a psychometric instrument that measures human’s nostalgia proneness consisting of seven questions that assess a person’s attitude towards nostalgia, the degree of experience or tendency to nostalgic feelings and the nostalgia frequency. In the current study, we translated, validated and calibrated the SNS in Greek population (N = 267). For the calibration process, we used several scales relevant to positive dimensions, such as life satisfaction, positive and negative emotions, time perspective and wellbeing. A confirmatory factor analysis revealed the factors that provide a good Southampton Nostalgia Proneness model fit for young adult Greek population.

Keywords: Nostalgia proneness, nostalgia, psychometric instruments, positive emotions.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1275

Authors: Antoni Wibowo, Harry Pujianto, Dewi Retno Sari Saputro

Abstract:

The stock market can provide huge profits in a relatively short time in financial sector; however, it also has a high risk for investors and traders if they are not careful to look the factors that affect the stock market. Therefore, they should give attention to the dynamic fluctuations and movements of the stock market to optimize profits from their investment. In this paper, we present a nonlinear autoregressive exogenous model (NARX) to predict the movements of stock market; especially, the movements of the closing price index. As case study, we consider to predict the movement of the closing price in Indonesia composite index (IHSG) and choose the best structures of NARX for IHSG’s prediction.

Keywords: NARX, prediction, stock market, time series.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 781

Authors: Esad Kadušić, Petar Bojović, Amela Žgalj

Abstract:

Mobile banking services present a unique growth opportunity for mobile operators in emerging markets, and have already made good progress in bringing financial services to the previously unbanked populations of many developing countries. The potential is amazing, but what about the risks? In the complex process of establishing a mobile banking business model, many kinds of risks and factors need to be monitored and well-managed. Risk identification is the first stage of risk management. Correct risk identification ensures risk management effectiveness. Keeping the risks low makes it possible to use the full potential of mobile banking and carry out the planned business strategy. The focus should be on adoption of consumers which is the main risk factor of mobile banking services.

Keywords: Consumer Adoption, Mobile Banking, Risk

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2420

Authors: H. Zare Amadabadi, S. Soltani Gerdefaramarzi

Abstract:

In recent years, strategic alliances have taken increasing importance as a means to control competitive forces and to enter into new markets. Joint ventures are one of the most frequently used contractual forms in strategic alliances. There are various motivations for cooperation between two or more firms e.g., accessing to technical know-how, accessing to financial resources and managing risks. The firms must know about these motivations to encourage for establishing joint venture. So, it is important for managers to understand about these motives. On the other hand, the cooperation section is one of the most effective parts in each country. In this way, our study identifies goals of joint venture between cooperative manufacturing firms, and prioritizes those using TOPSIS1. The results show that the most important of joint venture goals are: accessing to managerial know-how, sharing total capital investment.

Keywords: Cooperative, Joint Venture, TOPSIS

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2137

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

Abstract:

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

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

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3526

Authors: Ling Zheng, Yaping Wei, Kang Cao, Zheng Huang, Songpo Shi

Abstract:

Not only is municipal pattern the institution basement of urban management, but it also determines the forms of the management results. There-s a considerable possibility of bankruptcy for China-s current municipal pattern as it-s an overdraft of land deal in fact. Based on the analysis of China-s current municipal pattern, the passage proposed an assumption of a new pattern verified legitimacy by conceptual as well as econometric models. Conclusion is: the added supernumerary value of investment in public goods was not included in China-s current municipal pattern, but hidden in the rising housing prices; we should set housing tax or municipal tax to optimize the municipal pattern, to correct the behavior of local governments and to ensure the regular development of China-s urbanization.

Keywords: Urban management, China's municipal pattern, land financial institution, housing tax, Public goods.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1817

Authors: Mohd Afif Md Nasir, Faizal Amin NurYunus, Jamaluddin Hashim, Abd Samad Hassan Basari, A. Halim Sahelan

Abstract:

The aim of this study is to identify the suitability of Virtual Learning Environment (VLE) in welding simulator application towards Computer-Based Training (CBT) in developing skills upon new students at the Advanced Technology Training Center (ADTEC) Batu Pahat, Johor, Malaysia and GIATMARA, Batu Pahat, Johor, Malaysia. The significance of the study is to create a computer-based skills development approach in welding technology among new students in ADTEC and GIATMARA as well as to cultivate the elements of general skills among them. This study is also important in elevating the number of individual knowledge workers (K-workers) working in manufacturing industry in order to achieve a national vision which is to be an industrial nation in the year of 2020. The design of the study is a survey type of research which using questionnaires as the instruments and some 136 students from ADTEC and GIATMARA were interviewed. Descriptive analysis is used to identify the frequency and mean values. The findings of the study show that the welding technology has developed skills in the students because of the application of VLE simulated at a high level and the respondents agreed that the skills could be embedded through the application of the VLE simulator. In summary, the VLE simulator is suitable in welding skills development training in terms of exposing new students with the relevant characteristics of welding skills and at the same time spurring the students’ interest towards learning more about the skills.

Keywords: Computer-Based Training (CBT), knowledge workers (K-workers), virtual learning environment, welding simulator, welding technology.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2063