Search results for: Stock Market Crash.

Authors: Josip Visković, Josip Arnerić, Ante Rozga

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Based on the fact that volatility is time varying in high frequency data and that periods of high volatility tend to cluster, the most successful and popular models in modeling time varying volatility are GARCH type models. When financial returns exhibit sudden jumps that are due to structural breaks, standard GARCH models show high volatility persistence, i.e. integrated behavior of the conditional variance. In such situations models in which the parameters are allowed to change over time are more appropriate. This paper compares different GARCH models in terms of their ability to describe structural changes in returns caused by financial crisis at stock markets of six selected central and east European countries. The empirical analysis demonstrates that Markov regime switching GARCH model resolves the problem of excessive persistence and outperforms uni-regime GARCH models in forecasting volatility when sudden switching occurs in response to financial crisis.

Keywords: Central and east European countries, financial crisis, Markov switching GARCH model, transition probabilities.

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Authors: Despina Galani, Anastasios Alexandridis, Antonios Stavropoulos

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The main thrust of this paper is to assess the level of disclosure in the annual reports of non-financial Greek firms and to empirically investigate the hypothesized impact of several firm characteristics on the extent of mandatory disclosure. A disclosure checklist consisting of 100 mandatory items was developed to assess the level of disclosure in the 2009 annual reports of 43 Greek companies listed at the Athens stock exchange. The association between the level of disclosure and some firm characteristics was examined using multiple linear regression analysis. The study reveals that Greek companies on general have responded adequately to the mandatory disclosure requirements of the regulatory bodies. The findings also indicate that firm size was significant positively associated with the level of disclosure. The remaining variables such as age, profitability, liquidity, and board composition were found to be insignificant in explaining the variation of mandatory disclosures. The outcome of this study is undoubtedly of great concern to the investment community at large to assist in evaluating the extent of mandatory disclosure by Greek firms and explaining the variation of disclosure in light of firm-specific characteristics.

Keywords: Mandatory disclosure, Annual report, Disclosure index

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Authors: Y. Okude, S. Sakaki, S. Yoshihara, B. J. MacDonald

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In recent years asymmetric cross section aluminum alloy stock has been finding increasing use in various industrial manufacturing areas such as general structures and automotive components. In these areas, components are generally required to have complex curved configuration and, as such, a bending process is required during manufacture. Undesirable deformation in bending processes such as flattening or wrinkling can easily occur when thin-walled sections are bent. Hence, a thorough understanding of the bending behavior of such sections is needed to prevent these undesirable deformations. In this study, the bending behavior of asymmetric channel section was examined using finite element analysis (FEA). Typical methods of preventing undesirable deformation, such as asymmetric laminated elastic mandrels were included in FEA model of draw bending. Additionally, axial tension was applied to prevent wrinkling. By utilizing the FE simulations effect of restriction dies and axial tension on undesirable deformation during the process was clarified.

Keywords: bending, draw bending, asymmetric channel section, restriction dies, axial tension, FEA

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Authors: Kelly Grani Yuen

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Accounting scandals and auditing frauds are perceived to be driven by aggressive companies and misrepresentation of audit reports. However, local legal systems and law enforcements may affect the services auditors provide to their ‘important’ clients. Under the civil law and common law jurisdictions, the standard setters, the government, and the regulatory bodies treat cases differently. As such, whether or not different forms of legal systems and extent of law enforcement plays an important role in auditor’s Audit Quality is a question this paper attempts to explore. The paper focuses on the investigation in Asia, where Hong Kong represents the common-law jurisdiction, while Taiwan and China represent the civil law jurisdiction. Only the ten reputable accounting firms are used in this study due to the differences in rankings and establishments of some of the small local audit firms. This will also contribute to the data collected between the years 2007-2013. By focusing on the use of multiple regression based on the dependent (Audit Quality) and independent variables (Client Importance, Law Enforcement, and Press Freedom), six different models are established. Results demonstrate that since different jurisdictions have different legal systems and market regulations, auditor’s treatment on ‘important’ clients will vary. However, with the moderators in place (law enforcement and press freedom), the relationship between client importance and audit quality may be smoothed out. With that in mind, this study contributes to local governments and standard setters’ consideration on legal reform and proper law enforcement in the market. Perhaps, with such modifications on the economic systems, collusion between companies and auditors can finally be put to a halt.

Keywords: Audit quality, client importance, jurisdiction, modified audit opinions.

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Authors: Reihaneh Montazeri Shatouri, Rosmini Omar, Kunio Igusa

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Although automotive industry has brought different beneficiaries to human life, it is being pointed out as one of the major cause of global air pollution which resulted in climate change, smog, green house gases (GHGs), and human diseases by many reasons. Since auto industry is one of the largest consumers of fossil fuels, the realization of green innovations is becoming a crucial choice to meet the challenges towards sustainable development. Recently, many auto manufacturers have embarked on green technology initiatives to gain a competitive advantage in the global market; however, innovative manufacturing systems and technologies can enhance operational performance only if the human resource management is in place to elicit the motivation of the employees and develop their organizational expertise. No organization can perform at peak levels unless each employee is committed to the company goals and works as an effective team member. Strategic human resource practices are the primary means by which firms can shape the skills, attitudes, and behavior of individuals to align with the business strategic objectives. This study investigates on the comprehensive approach of multiple advanced technology innovations and human resource management at Toyota Motor Corporation as the market leader of full hybrid technology in the automotive industry. Then, HRM framework of the company is described and three sets of human resource practices that support the innovation-oriented HR system, presented. Finally, a conceptual framework for innovativeness in green technology in automotive industry by applying a deliberate strategic HR management system and knowledge management with the intervening factors of organizational culture, knowledge application and knowledge sharing is proposed.

Keywords: Automotive Industry, Green Technology, Innovation, Strategic Human Resource Management

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Authors: Hilmi Rafet Yüncü

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Today Internet has very important role to promote products and services all over the world. Companies and destinations in tourism industry use Internet to sell and to promote their core products to directly potential tourists. Internet technologies have redefined the relationships between tourists, tourism companies, and travel agents. The new relationship allows for accessing and tapping tourism information and services. Internet technologies ensure new opportunities to available for the tourism industry, including travel accommodation, and tourist destination organizations. Websites are important devices to the marketing of a destination. Most people make a research about the destination before arriving via internet. Governments have a considerable role in the process of marketing tourism destinations. Governments make policies and regulations; furthermore, they help to market destinations to potential tourists. Governments have a comprehensive overview of the sector to see changes in tourism market and design better policies, programs and marketing plans. At the same time, governments support developing of alternative tourism in the country with regulations and marketing tools. The aim of this study is to analyse of an Internet website of governmental tourism portal in Turkey to determine effectiveness about gastronomy tourism. The Turkish government has established a culture portal for foreign and local tourists. The Portal provides local and general information about tourism attractions of cities and Turkey. There are 81 official cities in Turkey and all these cities are conducted to analyse to determine how effective marketing is done by Turkish Government in the manner of gastronomy tourism. A content analysis will be conducted to Internet website of the portal with food content, recipes and gastronomic feature of cities.

Keywords: Content analysis, culture portal, gastronomy tourism, Turkey.

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Authors: N. Behidj, K. Benyounes, T. Dahmane, A. Allem

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The aim of this study was to investigate the antimicrobial activity of flavonoids isolated from the aerial part of a medicinal plant which is Thymus inodorusby the middle agar diffusion method on following microorganisms. We have Staphylococcus aureus, Escherichia coli, Pseudomonas fluorescens, AspergillusNiger, Aspergillus fumigatus and Candida albicans. During this study, flavonoids extracted by stripping with steam are performed. The yields of flavonoids is 7.242% for the aqueous extract and 28.86% for butanol extract, 29.875% for the extract of ethyl acetate and 22.9% for the extract of di - ethyl. The evaluation of the antibacterial effect shows that the diameter of the zone of inhibition varies from one microorganism to another. The operation values obtained show that the bacterial strain P fluoresces, and 3 yeasts and molds; A. Niger, A. fumigatus and C. albicansare the most resistant. But it is noted that, S. aureus is shown more sensitive to crude extracts, the stock solution and the various dilutions. Finally for the minimum inhibitory concentration is estimated only with the crude extract of Thymus inodorus flavonoid.Indeed, these extracts inhibit the growth of Gram + bacteria at a concentration varying between 0.5% and 1%. While for bacteria to Gram -, it is limited to a concentration of 0.5%.

Keywords: Antimicrobial activity, flavonoids, strains, Thymus inodorus.

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Authors: M. K. Witek-Hajduk, T. M. Napiórkowski

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A number of studies discussed the topic of benefits of retailers-manufacturers cooperation and coopetition. However, there are only few publications focused on the benefits of cooperation and coopetition between retailers and their suppliers of durable consumer goods; especially in the context of business model of cooperating partners. This paper aims to provide a clustering approach to segment retailers selling consumer durables according to the benefits they obtain from their cooperation with key manufacturers and differentiate the said retailers’ in term of the business models of cooperating partners. For the purpose of the study, a survey (with a CATI method) collected data on 603 consumer durables retailers present on the Polish market. Retailers are clustered both, with hierarchical and non-hierarchical methods. Five distinctive groups of consumer durables’ retailers are (based on the studied benefits) identified using the two-stage clustering approach. The clusters are then characterized with a set of exogenous variables, key of which are business models employed by the retailer and its partnering key manufacturer. The paper finds that the a combination of a medium sized retailer classified as an Integrator with a chiefly domestic capital and a manufacturer categorized as a Market Player will yield the highest benefits. On the other side of the spectrum is medium sized Distributor retailer with solely domestic capital – in this case, the business model of the cooperating manufactrer appears to be irreleveant. This paper is the one of the first empirical study using cluster analysis on primary data that defines the types of cooperation between consumer durables’ retailers and manufacturers – their key suppliers. The analysis integrates a perspective of both retailers’ and manufacturers’ business models and matches them with individual and joint benefits.

Keywords: Business model, cooperation, cluster analysis, retailer-manufacturer relationships.

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Authors: Insaf Mehani, Bachir Bouchekima

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The fight against climate change and the replacement of fossil energies nearing exhaustion gradually emerge as major societal and economic challenges. It is possible to develop common dates of low commercial value, and put on the local and international market a new generation of products with high added values such as bio ethanol. Besides its use in chemical synthesis, bio ethanol can be blended with gasoline to produce a clean fuel while improving the octane.

Keywords: Bio energy, waste dates, bio ethanol.

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Authors: H. N. Mehmanparast, J.M. Mac-Thiong., Y. Petit

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Transpedicular screw fixation in spinal fractures, degenerative changes, or deformities is a well-established procedure. However, important rate of fixation failure due to screw bending, loosening, or pullout are still reported particularly in weak bone stock in osteoporosis. To overcome the problem, mechanism of failure has to be fully investigated in vitro. Post-mortem human subjects are less accessible and animal cadavers comprise limitations due to different geometry and mechanical properties. Therefore, the development of a synthetic model mimicking the realistic human vertebra is highly demanded. A bone surrogate, composed of Polyurethane (PU) foam analogous to cancellous bone porous structure, was tested for 3 different densities in this study. The mechanical properties were investigated under uniaxial compression test by minimizing the end artifacts on specimens. The results indicated that PU foam of 0.32 g.cm-3 density has comparable mechanical properties to human cancellous bone in terms of young-s modulus and yield strength. Therefore, the obtained information can be considered as primary step for developing a realistic cancellous bone of human vertebral body. Further evaluations are also recommended for other density groups.

Keywords: Cancellous bone, Pedicle screw, Polyurethane foam, Synthetic bone

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Authors: R. Tirado, G. Habert, A. Mailhac, S. Laurenceau

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The rapid development of cities implies significant material inflows and outflows. The construction sector is one of the main consumers of raw materials and producers of waste. The waste from the building sector, for its quantity and potential for recovery, constitutes significant deposits requiring major efforts, by combining different actors, to achieve the circular economy's objectives. It is necessary to understand and know the current construction actors' knowledge of stocks, urban metabolism, deposits, and recovery practices in this context. This article aims to explore the role of local governments in planning strategies by facilitating a circular economy. In particular, the principal opportunities and challenges of communities for applying the principles of the circular economy in the building sector will be identified. The approach used for the study was to conduct semi-structured interviews with those responsible for circular economy projects within local administrations of some communities in France. The results show territories' involvement in the inclusion and application of the principles of the circular economy in the building sector. The main challenges encountered are numerous, hence the importance of having identified and described them so that the different actors can work to meet them.

Keywords: Building stock, circular economy, interview, local authorities.

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Authors: Emre Kara, Ahmet F. Geylan, Kadir Koç, Şura Karakuzu, Metehan Demir, Halil Aykul

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The structures obtained with the use of sandwich technologies combine low weight with high energy absorbing capacity and load carrying capacity. Hence, there is a growing and markedly interest in the use of sandwiches with aluminum foam core because of very good properties such as flexural rigidity and energy absorption capability. In the current investigation, the static threepoint bending tests were carried out on the sandwiches with aluminum foam core and glass fiber reinforced polymer (GFRP) skins at different values of support span distances aiming the analyses of their flexural performance. The influence of the core thickness and the GFRP skin type was reported in terms of peak load and energy absorption capacity. For this purpose, the skins with two different types of fabrics which have same thickness value and the aluminum foam core with two different thicknesses were bonded with a commercial polyurethane based flexible adhesive in order to combine the composite sandwich panels. The main results of the bending tests are: force-displacement curves, peak force values, absorbed energy, collapse mechanisms and the effect of the support span length and core thickness. The results of the experimental study showed that the sandwich with the skins made of S-Glass Woven fabrics and with the thicker foam core presented higher mechanical values such as load carrying and energy absorption capacities. The increment of the support span distance generated the decrease of the mechanical values for each type of panels, as expected, because of the inverse proportion between the force and span length. The most common failure types of the sandwiches are debonding of the lower skin and the core shear. The obtained results have particular importance for applications that require lightweight structures with a high capacity of energy dissipation, such as the transport industry (automotive, aerospace, shipbuilding and marine industry), where the problems of collision and crash have increased in the last years.

Keywords: Aluminum foam, Composite panel, Flexure, Transport application.

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Authors: Bashar Mudhaffar Abdullah, Rahimi M. Yusop, Jumat Salimon, Emad Yousif, Nadia Salih

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A study on the physicochemical properties of Jatropha curcas seed oil for industrial applications were carried out. Physicochemical properties of J. curcas seed oil (59.32% lipids) showed high content of LA (36.70%), iodine value (104.90 mg/g) and saponification value (203.36 mg/g). The present study shows that, J. curcas seed oil is rich in oleic and linoleic acids. The J. curcas seed oil with the highest amount of polyunsaturated fatty acids (linoleic acid) can find an application in surface coating industries and biolubricant base oil applications, whereas the high amount of monounsaturated fatty acid can find an application as a biodiesel feed stock. J. curcas seed oil contains major TAG of monounsaturated OLL, POL, SLL, PLL, OOL, OOO and POP followed by LLL. J. curcas seed oil can be classified as unsaturated oil with an unsaturated fat level of 80.42%. Hence the J. curcas seed oil has great potential for industrial applications such as in paint and surface coatings, production of biodiesel and biolubricant. Therefore, it is crucial to have more research on J. curcas seed oil in the future to explore its potential as a future industrial oilseed crop.

Keywords: Physical, chemical, Jatropha curcas seed oil, industrial applications.

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Authors: C. M. De Marco Muscat-Fenech, A. M. Grech La Rosa

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Although a lot of importance has been given to resistance analysis for various vessel types, explicit guidelines applied to multihull vessels have not been clearly defined.  The purpose of this investigation is to highlight the importance of the vessel’s layout in terms of three axes, the transverse (separation), the longitudinal (stagger) and the vertical (draught) with respect to resistance analysis. When a vessel has the potential to experience less resistance at a particular range of speeds a vast selection of opportunities are made available for both the commercial and leisure market.

Keywords: Multihull, Reistance, Trimaran.

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Authors: Sunday E. Ogundipe, Rafiu O. Salawu, Lawrencia O. Ogundipe

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The study examines the determinants of corporate cash holding of non-financial quoted firms in Nigeria using a sample of fifty four non-financial quoted firms listed on the Nigeria Stock Exchange for the period 1995-2009. Data were sourced from the Annual reports of the sampled firms and analyzed using Generalized Method of Moments(GMM). The study finds evidence supportive of a target adjustment model and that firms can not instantaneously adjust towards the target cash level owing to the fact that adjustment cost being costly,. Also, the result shows significant negative relationship between cash holdings and firm size, net working capital, return on asset and bank relationship and positive relationship with growth opportunities, leverage, inventories, account receivables and financial distress. Furthermore, there is no significant relationship between cash holdings and cash flow. In Nigerian setting, most of the variables that are relevant for explaining cash holdings in the Developed countries are found by this study to be relevant also in Nigeria.

Keywords: Adjustment Model , Cash holding, Determinant, Generalized Method of Moments(GMM)

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Authors: Neha Asthana, Vishal Krishna Prasad

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Collaborative Planning and Forecasting is an innovative and systematic approach towards productive integration and assimilation of data synergized into information. The changing and variable market dynamics have persuaded global business chains to incorporate Collaborative Planning and Forecasting as an imperative tool. Thus, it is essential for the supply chains to constantly improvise, update its nature, and mould as per changing global environment.

Keywords: Information transfer, Forecasting, Optimization.

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Authors: Stefano Sorace, Gloria Terenzi

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The seismic rehabilitation designs of two reinforced concrete school buildings, representative of a wide stock of similar edifices designed under earlier editions of the Italian Technical Standards, are presented in this paper. The mutual retrofit solution elaborated for the two buildings consists in the incorporation of a dissipative bracing system including pressurized fluid viscous springdampers as passive protective devices. The mechanical parameters, layouts and locations selected for the constituting elements of the system; the architectural renovation projects developed to properly incorporate the structural interventions and improve the appearance of the buildings; highlights of the installation works already completed in one of the two structures; and a synthesis of the performance assessment analyses carried out in original and rehabilitated conditions, are illustrated. The results of the analyses show a remarkable enhancement of the seismic response capacities of both structures. This allows reaching the high performance objectives postulated in the retrofit designs with much lower costs and architectural intrusion as compared to traditional rehabilitation interventions designed for the same objectives.

Keywords: Seismic rehabilitation, R/C structures, performance analysis, dissipative braces, fluid viscous dampers.

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Authors: Milena Gojny-Zbierowska

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In the last decades, psychological tests have been gaining in popularity as a method used for evaluating personnel, and they bring consulting companies solid profits rising by up to 10% each year. The market is offering a growing range of tools for the assessment of personality. Tests are used in organizations mainly in the recruitment and selection of staff. This paper is an attempt to initially diagnose the state of the use of psychological tests in Polish companies on the basis of empirical research.

Keywords: Psychological tests, personality, content analysis, NEO FFI, big five personality model.

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Authors: Maha Hammami, Olfa Benouda Sioud

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This study investigates the reliability of management earnings forecasts with reference to these two ingredients: verifiability and neutrality. Specifically, we examine the biasedness (or accuracy) of management earnings forecasts and company specific characteristics that can be associated with accuracy. Based on sample of 102 IPO prospectuses published for admission on NYSE Euronext Paris from 2002 to 2010, we found that these forecasts are on average optimistic and two of the five test variables, earnings variability and financial leverage are significant in explaining ex post bias. Acknowledging the possibility that the bias is the result of the managers’ forecasting behavior, we then examine whether managers decide to under-predict, over-predict or forecast accurately for self-serving purposes. Explicitly, we examine the role of financial distress, operating performance, ownership by insiders and the economy state in influencing managers’ forecasting preferences. We find that managers of distressed firms seem to over-predict future earnings. We also find that when managers are given more stock options, they tend to under-predict future earnings. Finally, we conclude that the management earnings forecasts are affected by an intentional bias due to managers’ forecasting preferences.

Keywords: Intentional bias, Management earnings forecasts, neutrality, verifiability.

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Authors: F. Rahnamay Roodposhti, S. A. Nabavi Chashmi

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The role of corporate governance is to reduce the divergence of interests between shareholders and managers. The role of corporate governance is more useful when managers have an incentive to deviate from shareholders- interests. One example of management-s deviation from shareholders- interests is the management of earnings through the use of accounting accruals. This paper examines the association between corporate governance internal mechanisms ownership concentration, board independence, the existence of CEO-Chairman duality and earnings management. Firm size and leverage are control variables. The population used in this study comprises firms listed on the Tehran Stock Exchange (TSE) between 2004 and 2008, the sample comprises 196 firms. Panel Data method is employed as technique to estimate the model. We find that there is negative significant association between ownership concentration and board independence manage earnings with earnings management, there is negative significant association between the existence of CEO-Chairman duality and earnings management. This study also found a positive significant association between control variable (firm size and leverage) and earnings management.

Keywords: Earnings management, board independence, ownership concentration, corporate governance.

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Authors: Lilac Al Safadi, Rana Abu Nafesa, Regina Garcia

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Motivated by Microsoft Co. Academic Program initiative, the department of Information Technology in King Saud University has adopted Microsoft products in three courses. The initiative aimed at enhancing the abilities of the university graduates and equipping them with skills that would help them in the job market. A number of methods of collecting assessment data were used to evaluate the course adoption initiative. Assessment data indicated that the goal of the course adoption is being achieved and that the students were much better prepared to design applications and administrate networks.

Keywords: course adoption, assessment, programming, technologies

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Authors: Insaf Mehani, Bachir Bouchekima

Abstract:

In Algeria, the conditioning units of dates, generate significant quantities of waste arising from sorting deviations. This biomass, until then considered as a waste with high impact on the environment can be transformed into high value added product. It is possible to develop common dates of low commercial value, and put on the local and international market a new generation of products with high added values such as bio ethanol. Besides its use in chemical synthesis, bio ethanol can be blended with gasoline to produce a clean fuel while improving the octane.

Keywords: Bioenergy, dates, bioethanol, valorisation.

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Authors: Mohamed Moheyeldin Mahmoud

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Egypt suffers from a severe shortage of data and charts concerning the physical dimensions, measurements, qualities and consumer behavior. The shortage of needed information and appropriate methods has forced the Egyptian designer to use any other foreign standard when designing a product for the Egyptian consumer which has led to many problems. The urgently needed database concerning the physical specifications, measurements of the Egyptian consumers, as well as the need to support the Ergonomics given courses in many colleges and institutes with the latest technologies, is stated as the research problem. Descriptive analytical method relying on the compiling, comparing and analyzing of information and facts in order to get acceptable perceptions, ideas and considerations is the used methodology by the researcher. The research concludes that: 1. Good interaction relationship between users and products shows the success of that product. 2. An integration linkage between the most prominent fields of science specially Ergonomics, Interaction Design and Ethnography should be encouraged to provide an ultimately updated database concerning the nature, specifications and environment of the Egyptian consumer, in order to achieve a higher benefit for both user and product. 3. Chinese economic policy based on the study of market requirements long before any market activities should be emulated. 4. Using Ethnography supports the design activities creating new products or updating existent ones through measuring the compatibility of products with their environment and user expectations, While contracting a joint cooperation between military colleges, sports education institutes from one side, and design institutes from the other side to provide an ultimately updated (annually updated) database concerning some specifications about students of both sexes applying in those institutes (height, weight, etc.) to provide the Industrial designer with the needed information when creating a new product or updating an existing one concerning that category is recommended by the researcher.

Keywords: Adapt ergonomics, ethnography, interaction design.

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Authors: Diana Flores Galindo, Richard Gil Herrera

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Nowadays, Lean Manufacturing and Industry 4.0 are very important in every country. One of the main benefits is continued market presence. It has been identified that there is a need to change existing educational programs, as well as update the knowledge and skills of existing employees. It should be borne in mind that behind each technological improvement, there is a human being. Human talent cannot be neglected. The main objectives of this article are to review the link between Lean Manufacturing, the incorporation of Industry 4.0 and the steps to follow to implement it; analyze the current situation and study the implications and benefits of this new trend, with a particular focus on Mexico. Lean Manufacturing and Industry 4.0 implementation waves must always take care of the most important capital – intellectual capital. The methodology used in this article comprised the following steps: reviewing the reality of the fourth industrial revolution, reviewing employees’ skills on the journey to become world-class, and analyzing the situation in Mexico. Lean Manufacturing and Industry 4.0 were studied not as exclusive concepts, but as complementary ones. The methodological framework used is focused on motivating companies’ collaborators to guarantee common results, innovate, and remain in the market in the face of new requirements from company stakeholders. The key findings were that both trends emphasize the need to improve communication across the entire company and incorporate new technologies into everyday work, from the shop floor to administrative staff, to help improve processes. Taking care of people, activities and processes will bring a company success. In the specific case of Mexico, companies in all sectors need to be aware of and implement technological improvements according to their specific needs. Low-cost labor represents one of the most typical barriers. In conclusion, companies must build a roadmap according to their strategy and needs to achieve their short, medium- and long-term goals.

Keywords: Lean management, lean manufacturing, industry 4.0, motivation, SWOT analysis, Hoshin Kanri.

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Authors: Jan Zeman

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The paper describes the futures trading and aims to design the speculators trading strategy. The problem is formulated as the decision making task and such as is solved. The solution of the task leads to complex mathematical problems and the approximations of the decision making is demanded. Two kind of approximation are used in the paper: Monte Carlo for the multi-step prediction and iteration spread in time for the optimization. The solution is applied to the real-market data and the results of the off-line experiments are presented.

Keywords: futures trading, decision making

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Authors: A. H. Tadevosyan, S. K. Mayrapetyan, N. B. Tavakalyan, K. I. Pyuskyulyan, A. H. Hovsepyan, S. N. Sergeeva

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Soil contamination with radiocesium has a long-term radiological impact due to its long physical half-life (30.1 years for ¹³⁷Cs and 2 years for ¹³⁴Cs) and its high biological availability. ¹³⁷Cs causes the largest concerns because of its deleterious effect on agriculture and stock farming, and, thus, human life for decades. One of the important aspects of the problem of contaminated soils remediation is understand of protective actions aimed at the reduction of biological migration of radionuclides in soil-plant system. The most effective way to bind radionuclides is the use of selective sorbents. The proposed research mainly aims to achieve control on transfer of ¹³⁷Cs in a system growing media – plant due to counter ions variation in the polymeric sorbents. As research object Japanese basil - Perilla frutescens was chosen. Productivity of plants depending on the presence (control-without presence of polymer) and type of polymer material, as well as content of ¹³⁷Cs in plant material has been determined. The character of different polymers influences on the ¹³⁷Cs migration in growing media – plant system as well as accumulation in the plants has been cleared up.

Keywords: Radioceaseum, Japanese basil, polymer, soil-plant system.

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Authors: Mostafa Ahmed Shokshok

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Libyan industrial companies face many challenges in today's competitive market. Quality management culture approaches is one of these challenges which may furnish the road to the Libyan industrial companies to effectively empower their employees and improve their ability to respond to the international competition. The primary objective of this paper is to design a practical approach to guide Libyan industrial companies toward successful quality culture implementation.

Keywords: Libyan manufacturing industries, TQM, Quality culture, Quality framework.

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Authors: Chiung-Hui Chen

Abstract:

Traditional service channel is losing its edge due to emerging service technology. To establish interaction with the clients, the service industry is using effective mechanism to give clients direct access to services with emerging technologies. Thus, as service science receives attention, special and unique consumption pattern evolves; henceforth, leading to new market mechanism and influencing attitudes toward life and consumption patterns. The market demand for customized services is thus valued due to the emphasis of personal value, and is gradually changing the demand and supply relationship in the traditional industry. In respect of interior design service, in the process of traditional interior design, a designer converts to a concrete form the concept generated from the ideas and needs dictated by a user (client), by using his/her professional knowledge and drawing tool. The final product is generated through iterations of communication and modification, which is a very time-consuming process. Although this process has been accelerated with the help of computer graphics software today, repeated discussions and confirmations with users are still required to complete the task. In consideration of what is addressed above a space user’s life model is analyzed with visualization technique to create an interaction system modeled after interior design knowledge. The space user document intuitively personal life experience in a model requirement chart, allowing a researcher to analyze interrelation between analysis documents, identify the logic and the substance of data conversion. The repeated data which is documented are then transformed into design information for reuse and sharing. A professional interior designer may sort out the correlation among user’s preference, life pattern and design specification, thus deciding the critical design elements in the process of service design.

Keywords: Information Design, Life Model-Based, Aesthetic Computing, Communication.

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Authors: M. Philokyprou, A. Michael

Abstract:

Contemporary theories of sustainability, concerning the natural and built environment, have recently introduced an environmental attitude towards the architectural design that, in turn, affects the practice of conservation and reuse of the existing building stock. This paper presents an environmentally friendly approach towards the conservation of vernacular architecture and it is based on the results of a research program which involved the investigation of sustainable design elements of traditional buildings in Cyprus. The research in question showed that Cypriot vernacular architecture gave more emphasis on cooling rather than heating strategies. Another notable finding of the investigation was the great importance given to courtyards as they enhance considerably, and in various ways, the microclimatic conditions of the immediate environment with favorable results throughout the year. Moreover, it was shown that the reduction in temperature fluctuation observed in the closed and semi-open spaces, compared to the respective temperature fluctuation of the external environment -due to the thermal inertia of the building envelope- helps towards the achievement of more comfortable living conditions within traditional dwellings. This paper concludes with a proposal of a sustainable approach towards the conservation of the existing environment and the introduction of new environmental criteria for the conservation of traditional buildings, beyond the aesthetic, morphological and structural ones that are generally applied.

Keywords: Bioclimatic, conservation, environmental, traditional dwellings, vernacular architecture.

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Authors: Radosveta Sokullu, Engin Karatepe

Abstract:

In the last couple of years Bluetooth has gained a large share in the market of home and personal appliances. It is now a well established technology a short range supplement to the wireless world of 802.11. The two main trends of research that have sprung from these developments are directed towards the coexistence and performance issues of Bluetooth and 802.11 as well as the co-existence in the very short range of multiple Bluetooth devices. Our work aims at thoroughly investigating different aspects of co-channel interference and effects of transmission power, distance and 802.11 interference on Bluetooth connections.

Keywords: Bluetooth, co-channel interference, 802.11, performance analysis

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