Search results for: Risk Management.

Authors: Mohamed A. Hammad, Dzul Azri Mohamed Noor, Syed Azhar Syed Sulaiman, Ahmed A. Khamis, Abeer Kharshid, Nor Azizah Aziz

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The effect of statins dose intensity (SDI) on glycemic control in patients with existing diabetes is unclear. Also, there are many contradictory findings were reported in the literature; thus, it is limiting the possibility to draw conclusions. This project was designed to compare the effect of SDI on glycated hemoglobin (HbA1c%) control in outpatients with Type 2 diabetes in the endocrine clinic at Hospital Pulau Pinang, Malaysia, between July 2015 and August 2016. A prospective cohort study was conducted, where records of 345 patients with Type 2 diabetes (Moderate-SDI group 289 patients and high-SDI cohort 56 patients) were reviewed to identify demographics and laboratory tests. The target of glycemic control (HbA1c < 7% for patient < 65 years, and < 8% for patient ≥ 65 years) was estimated, and the results were presented as descriptive statistics. From 289 moderate-SDI cohorts with a mean age of 57.3 ± 12.4 years, only 86 (29.8%) cases were shown to have controlled glycemia, while there were 203 (70.2%) cases with uncontrolled glycemia with confidence interval (CI) of 95% (6.2–10.8). On the other hand, the high-SDI group of 56 patients with Type 2 diabetes with a mean age 57.7±12.4 years is distributed among 11 (19.6%) patients with controlled diabetes, and 45 (80.4%) of them had uncontrolled glycemia, CI: 95% (7.1–11.9). The study has demonstrated that the relative risk (RR) of uncontrolled glycemia in patients with Type 2 diabetes that used high-SDI is 1.15, and the excessive relative risk (ERR) is 15%. The absolute risk (AR) is 10.2%, and the number needed to harm (NNH) is 10. Outpatients with Type 2 diabetes who use high-SDI of statin have a higher risk of uncontrolled glycemia than outpatients who had been treated with a moderate-SDI.

Keywords: Cohort study, diabetes control, dose intensity, HbA1c, Malaysia, statin, Type 2 diabetes mellitus, uncontrolled glycemia.

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Authors: Janet L. Kourik, Peter E. Maher

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To investigate the correspondence of theory and practice, a successfully implemented Knowledge Management System (KMS) is explored through the lens of Alavi and Leidner-s proposed KMS framework for the analysis of an information system in knowledge management (Framework-AISKM). The applied KMS system was designed to manage curricular knowledge in a distributed university environment. The motivation for the KMS is discussed along with the types of knowledge necessary in an academic setting. Elements of the KMS involved in all phases of capturing and disseminating knowledge are described. As the KMS matures the resulting data stores form the precursor to and the potential for knowledge mining. The findings from this exploratory study indicate substantial correspondence between the successful KMS and the theory-based framework providing provisional confirmation for the framework while suggesting factors that contributed to the system-s success. Avenues for future work are described.

Keywords: Applied KMS, education, knowledge management (KM), KM framework, knowledge management system (KMS).

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Authors: Karolína Vozková, Matěj Kuc

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This paper deals with the impact of decrease in interest rates on the performance of commercial and cooperative banks in the Eurozone measured by net interest margin. The analysis was performed on balanced dataset of 268 commercial and 726 cooperative banks spanning the 2008-2015 period. We employed Fixed Effects estimation panel method. As expected, we found a negative relationship between market rates and net interest margin. Our results suggest that the impact of negative interest income differs across individual banking business models. More precisely, those cooperative banks were much more hit by the decrease of market interest rates which might be due to their ownership structure and more restrictive business regulation.

Keywords: Cooperative banks, performance, negative interest rates, risk management.

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Authors: Rony H. Rahman, Lutfar Rahman

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Ad hoc networks are characterized by multi-hop wireless connectivity and frequently changing network topology. Forming security association among a group of nodes in ad-hoc networks is more challenging than in conventional networks due to the lack of central authority, i.e. fixed infrastructure. With that view in mind, group key management plays an important building block of any secure group communication. The main contribution of this paper is a low complexity key management scheme that is suitable for fully self-organized ad-hoc networks. The protocol is also password authenticated, making it resilient against active attacks. Unlike other existing key agreement protocols, ours make no assumption about the structure of the underlying wireless network, making it suitable for “truly ad-hoc" networks. Finally, we will analyze our protocol to show the computation and communication burden on individual nodes for key establishment.

Keywords: Ad-hoc Networks, Group Key Management, Key Management Protocols, Password Authentication

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Authors: Ferdi Sönmez, Başak Buluz

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Agility in Knowledge Management (AKM) tries to capture agility requirements and their respective answers within the framework of knowledge and learning for organizations. Since it is rather a new construct, it is difficult to claim that it has been sufficiently discussed and analyzed in practical and theoretical realms. Like the term ‘agile learning’, it is also commonly addressed in the software development and information technology fields and across the related areas where those technologies can be applied. The organizational perspective towards AKM, seems to need some more time to become scholarly mature. Nevertheless, in the literature one can come across some implicit usages of this term occasionally. This research is aimed to explore the conceptual background of agility in KM, re-conceptualize it and extend it to business applications with a special focus on e-business.

Keywords: Knowledge management, agility requirements, agility in knowledge management, knowledge.

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Authors: Duangsamorn Rungsawanpho

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The objectives of this paper are to explore the corporate cultures management as determinants of employee retention company in Thailand. This study using mixed method methodology. Data collection using questionnaires and in-depth interviews. The statistics used for data analysis were percentage, mean, standard deviation and inferential statistics will include. The results show that the corporate management culture is perfect for any organization but it depends on the business and the industry because the situations or circumstances that corporate executives are met is different. Because the finding explained that the employees of the company determine the achievement of value-oriented by the corporate culture and international relations is perceived most value for their organizations. In additional we found the employees perceiving with participation can be interpreted as a positive example, many employees feel that they are part of management because they care about their opinions or ideas related with their work.

Keywords: Corporate culture, employee retention, retention of employees, management approaches.

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Authors: Samart Homthong, Wutthipong Moungnoi

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Critical success factors (CSFs) and the criteria to measure project success have received much attention over the decades and are among the most widely researched topics in the context of project management. However, although there have been extensive studies on the subject by different researchers, to date, there has been little agreement on the CSFs. The aim of this study is to identify the CSFs that influence the performance of construction projects, and determine their relative importance for different objectives across five stages in the project life cycle. A considerable literature review was conducted that resulted in the identification of 179 individual factors. These factors were then grouped into nine major categories. A questionnaire survey was used to collect data from three groups of respondents: client representatives, consultants, and contractors. Out of 164 questionnaires distributed, 93 were returned, yielding a response rate of 56.7%. Using the mean score, relative importance index, and weighted average method, the top 10 critical factors for each category were identified. The agreement of survey respondents on those categorised factors were analysed using Spearman’s rank correlation. A one-way analysis of variance was then performed to determine whether the mean scores among the various groups of respondents were statistically significant. The findings indicate the most CSFs in each category in procurement phase are: proper procurement programming of materials (time), stability in the price of materials (cost), and determining quality in the construction (quality). They are then followed by safety equipment acquisition and maintenance (health and safety), budgeting allowed in a contractual arrangement for implementing environmental management activities (environment), completeness of drawing documents (productivity), accurate measurement and pricing of bill of quantities (risk management), adequate communication among the project team (human resource), and adequate cost control measures (client satisfaction). An understanding of CSFs would help all interested parties in the construction industry to improve project performance. Furthermore, the results of this study would help construction professionals and practitioners take proactive measures for effective project management.

Keywords: Critical success factors, procurement phase, project life cycle, project performance.

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Authors: S. Jarernprasert, E. Bazan-Zurita, P. C. Rizzo

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Currently, seismic probabilistic risk assessments (SPRA) for nuclear facilities use In-Structure Response Spectra (ISRS) in the calculation of fragilities for systems and components. ISRS are calculated via dynamic analyses of the host building subjected to two orthogonal components of horizontal ground motion. Each component is defined as the median motion in any horizontal direction. Structural engineers applied the components along selected X and Y Cartesian axes. The ISRS at different locations in the building are also calculated in the X and Y directions. The choice of the directions of X and Y are not specified by the ground motion model with respect to geographic coordinates, and are rather arbitrarily selected by the structural engineer. Normally, X and Y coincide with the “principal” axes of the building, in the understanding that this practice is generally conservative. For SPRA purposes, however, it is desirable to remove any conservatism in the estimates of median ISRS. This paper examines the effects of the direction of horizontal seismic motion on the ISRS on typical nuclear structure. We also evaluate the variability of ISRS calculated along different horizontal directions. Our results indicate that some central measures of the ISRS provide robust estimates that are practically independent of the selection of the directions of the horizontal Cartesian axes.

Keywords: Seismic, Directionality, In-Structure Response Spectra, Probabilistic Risk Assessment.

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Authors: A. Abdullah Saleh, A. H. Mohammed, M. N. Abdullah

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Recently, universities are increasingly consuming energy to support various activities. A large population of staff and students in Malaysian universities has led to excessive energy consumption which directly gives an impact to the environment. The key question then ascended “How well is an energy management (EM) been practiced in universities without taking the Critical Success Factors (CSFs) into consideration to ensure the management of university achieves the goals in reducing energy consumption. Review on past literature is carried out to establish CSFs for EM best practices. Thus, this paper highlighted the CSFs which have to be focused on by management of university to successfully measure the EM implementation and its performance. At the end of this paper, a theoretical framework is developed for EM success factors towards sustainable university.

Keywords: Critical success factors, energy management, sustainability, Malaysian universities.

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Authors: Shaneil Taylor

Abstract:

Gender-based violence is a reflection of the inequalities that are associated within a society between the men and women that affects the health, dignity, security and autonomy of its victims. There are various determinants that contribute to the health risk of young women who have experienced sexual violence, in countries that have a high prevalence rate for HIV. For instance, in South Africa, where the highest prevalence rate for HIV is among young women, their susceptibility to the virus has been increased by sexual violence and cultural inequalities. Therefore, this study is a review of literature that explores how gender-based violence increases the possibility for HIV/AIDS among young women in South Africa.

Keywords: Gender based violence, HIV/AIDS transmission, young women, Risky sexual behavior.

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Authors: Pavel Vazan, Pavol Tanuska, Michal Kebisek

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The paper gives the pilot results of the project that is oriented on the use of data mining techniques and knowledge discoveries from production systems through them. They have been used in the management of these systems. The simulation models of manufacturing systems have been developed to obtain the necessary data about production. The authors have developed the way of storing data obtained from the simulation models in the data warehouse. Data mining model has been created by using specific methods and selected techniques for defined problems of production system management. The new knowledge has been applied to production management system. Gained knowledge has been tested on simulation models of the production system. An important benefit of the project has been proposal of the new methodology. This methodology is focused on data mining from the databases that store operational data about the production process.

Keywords: data mining, data warehousing, management of production system, simulation

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Authors: Ulrich Berger, Yuliya Lebedynska, Veronica Vargas

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The right information at the right time influences the enterprise and technical success. Sharing knowledge among members of a big organization may be a complex activity. And as long as the knowledge is not shared, can not be exploited by the organization. There are some mechanisms which can originate knowledge sharing. It is intended, in this paper, to trigger these mechanisms by using semantic nets. Moreover, the intersection and overlapping of terms and sub-terms, as well as their relationships will be described through the mereology science for the whole knowledge sharing system. It is proposed a knowledge system to supply to operators with the right information about a specific process and possible risks, e.g. at the assembly process, at the right time in an automated manufacturing environment, such as at the automotive industry.

Keywords: Automated manufacturing, knowledge sharing, mereology, risk management, semantic net.

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Authors: Nader Nabhani, Amir Tofighi

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Nanotechnology is the science of creating, using and manipulating objects which have at least one dimension in range of 0.1 to 100 nanometers. In other words, nanotechnology is reconstructing a substance using its individual atoms and arranging them in a way that is desirable for our purpose. The main reason that nanotechnology has been attracting attentions is the unique properties that objects show when they are formed at nano-scale. These differing characteristics that nano-scale materials show compared to their nature-existing form is both useful in creating high quality products and dangerous when being in contact with body or spread in environment. In order to control and lower the risk of such nano-scale particles, the main following three topics should be considered: 1) First of all, these materials would cause long term diseases that may show their effects on body years after being penetrated in human organs and since this science has become recently developed in industrial scale not enough information is available about their hazards on body. 2) The second is that these particles can easily spread out in environment and remain in air, soil or water for very long time, besides their high ability to penetrate body skin and causing new kinds of diseases. 3) The third one is that to protect body and environment against the danger of these particles, the protective barriers must be finer than these small objects and such defenses are hard to accomplish. This paper will review, discuss and assess the risks that human and environment face as this new science develops at a high rate.

Keywords: Nanotechnology, risk assessment, environment.

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Authors: Amel Ltifi, Ahmed Zouinkhi, Med Salim Bouhlel

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Spontaneous networks such as VANET are in general deployed in an open and thus easily accessible environment. Therefore, they are vulnerable to attacks. Trust management is one of a set of security solutions dedicated to this type of networks. Moreover, the strong mobility of the nodes (in the case of VANET) makes the establishment of a trust management system complex. In this paper, we present a concept of ‘Active Vehicle’ which means an autonomous vehicle that is able to make decision about trustworthiness of alert messages transmitted about road accidents. The behavior of an “Active Vehicle” is modeled using Petri Nets.

Keywords: Component, active vehicle, cooperation, petri nets, trust management, VANET.

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Authors: Amiel Satvedi, Richard Pyne

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Injuries in professional sports occur on a regular basis. Some may be minor while others can cause huge impact on a player’s career and earning potential. In soccer, there is a high risk of players picking up injuries during game time. This research work seeks to help soccer players reduce the risk of getting injured by predicting the likelihood of injury while playing in the near future and then providing recommendations for intervention. The injury prediction tool will use a soccer player’s number of minutes played on the field, number of appearances, distance covered and performance data for the current and previous seasons as variables to conduct statistical analysis and provide injury predictive results using a machine learning linear regression model.

Keywords: Injury predictor, soccer injury prevention, machine learning in soccer, big data in soccer.

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Authors: Djamel Saba, Fatima Zohra Laallam, Brahim Berbaoui

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This paper presents a contribution to the design of a multi-agent for the energy management system in a hybrid energy system (SEH). The multi-agent-based energy-coordination management system (MA-ECMS) is based mainly on coordination between agents. The agents share the tasks and exchange information through communications protocols to achieve the main goal. This intelligent system can fully manage the consumption and production or simply to make proposals for action he thinks is best. The initial step is to give a presentation for the system that we want to model in order to understand all the details as much as possible. In our case, it is to implement a system for simulating a process control of energy management.

Keywords: Multi agents system, hybrid energy system, communications protocols, modelization, simulation, control process, energy management.

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Authors: Paiboon Jeamponk

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The Bangnanglee Sub-district Administrative Office, Thailand had initiated a policy to environmental protection with encouraging household waste management in order to promote civil responsibility for domestic hygienic. This research studied the household behaviors on solid waste and wastewater management. A sample population of 306 families answered a questionnaire. The study showed that, on average, domestic activities had produced 1.93 kilograms of waste per household per day. It has been found that 79% of the households made several attempts to reduce their own amount of waste. 80% of the households stationed their own garbage bins. 71% managed their waste by selling recyclable products. As for the rest of the waste, 51% burned them, while 29% disposed their waste in the nearby public trashcans and other 13% have them buried. As for wastewater, 60% of the households disposed it into the sewage, whereas 30% disposed them right from their elevated house.

Keywords: Environmental integrated management, environmental protection, household waste management.

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Authors: S. K. Balashanmugam, Padmavati Manchikanti, S. R. Subramanian

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The question of legal liability over injury arising out of the import and the introduction of GM food emerges as a crucial issue confronting to promote GM food and its derivatives. There is a greater possibility of commercialized GM food from the exporting country to enter importing country where status of approval shall not be same. This necessitates the importance of fixing a liability mechanism to discuss the damage, if any, occurs at the level of transboundary movement or at the market. There was a widespread consensus to develop the Cartagena Protocol on Biosafety and to give for a dedicated regime on liability and redress in the form of Nagoya Kuala Lumpur Supplementary Protocol on the Liability and Redress (‘N-KL Protocol’) at the international context. The national legal frameworks based on this protocol are not adequately established in the prevailing food legislations of the developing countries. The developing economy like India is willing to import GM food and its derivatives after the successful commercialization of Bt Cotton in 2002. As a party to the N-KL Protocol, it is indispensable for India to formulate a legal framework and to discuss safety, liability, and regulatory issues surrounding GM foods in conformity to the provisions of the Protocol. The liability mechanism is also important in the case where the risk assessment and risk management is still in implementing stage. Moreover, the country is facing GM infiltration issues with its neighbors Bangladesh. As a precautionary approach, there is a need to formulate rules and procedure of legal liability to discuss any kind of damage occurs at transboundary trade. In this context, the proposed work will attempt to analyze the liability regime in the existing Food Safety and Standards Act, 2006 from the applicability and domestic compliance and to suggest legal and policy options for regulatory authorities.

Keywords: Commercialisation, food safety, FSSAI, genetically modified foods, India, liability.

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Authors: Wen-Jye Shyr, Chia-Ming Lin, Hung-Yun Feng

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The purpose of this study was to develop an energy management system for university campuses based on the Internet of Things (IoT) technique. The proposed IoT technique based on WebAccess is used via network browser Internet Explore and applies TCP/IP protocol. The case study of IoT for lighting energy usage management system was proposed. Structure of proposed IoT technique included perception layer, equipment layer, control layer, application layer and network layer.

Keywords: Energy management, IoT technique, Sensor, WebAccess

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Authors: I. Boroňová, J. Bernasovská, J. Kmec, E. Petrejčíková

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Dilated cardiomyopathy (DCM) is a severe cardiovascular disorder characterized by progressive systolic dysfunction due to cardiac chamber dilatation and inefficient myocardial contractility often leading to chronic heart failure. Recently, a genome-wide association studies (GWASs) on DCM indicate that the ZBTB17 gene rs10927875 single nucleotide polymorphism is associated with DCM. The aim of the study was to identify the distribution of ZBTB17 gene rs10927875 polymorphism in 50 Slovak patients with DCM and 80 healthy control subjects using the Custom Taqman®SNP Genotyping assays. Risk factors detected at baseline in each group included age, sex, body mass index, smoking status, diabetes and blood pressure. The mean age of patients with DCM was 52.9±6.3 years; the mean age of individuals in control group was 50.3±8.9 years. The distribution of investigated genotypes of rs10927875 polymorphism within ZBTB17 gene in the cohort of Slovak patients with DCM was as follows: CC (38.8%), CT (55.1%), TT (6.1%), in controls: CC (43.8%), CT (51.2%), TT (5.0%). The risk allele T was more common among the patients with dilated cardiomyopathy than in normal controls (33.7% versus 30.6%). The differences in genotype or allele frequencies of ZBTB17 gene rs10927875 polymorphism were not statistically significant (p=0.6908; p=0.6098). The results of this study suggest that ZBTB17 gene rs10927875 polymorphism may be a risk factor for susceptibility to DCM in Slovak patients with DCM. Studies of numerous files and additional functional investigations are needed to fully understand the roles of genetic associations.

Keywords: Dilated cardiomyopathy, SNP polymorphism, ZBTB17 gene.

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Authors: Jiaqi Yan, Sherry Sun, Huaiqing Wang, Zhongsheng Hua

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In the highly competitive and rapidly changing global marketplace, independent organizations and enterprises often come together and form a temporary alignment of virtual enterprise in a supply chain to better provide products or service. As firms adopt the systems approach implicit in supply chain management, they must manage the quality from both internal process control and external control of supplier quality and customer requirements. How to incorporate quality management of upstream and downstream supply chain partners into their own quality management system has recently received a great deal of attention from both academic and practice. This paper investigate the collaborative feature and the entities- relationship in a supply chain, and presents an ontology of collaborative supply chain from an approach of aligning service-oriented framework with service-dominant logic. This perspective facilitates the segregation of material flow management from manufacturing capability management, which provides a foundation for the coordination and integration of the business process to measure, analyze, and continually improve the quality of products, services, and process. Further, this approach characterizes the different interests of supply chain partners, providing an innovative approach to analyze the collaborative features of supply chain. Furthermore, this ontology is the foundation to develop quality management system which internalizes the quality management in upstream and downstream supply chain partners and manages the quality in supply chain systematically.

Keywords: Ontology, supply chain quality management, service-oriented architecture, service-dominant logic.

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Authors: Srisawas Siriporn, Rotchanakitumnuai Siriluck

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The study aims to develop a framework of social network management to enhance customer relationship. Social network management of this research is derived from social network site management, individual and organization social network usage motivation. The survey was conducted with organization employees who have used social network to interact with customers. The results reveal that content, link, privacy and security, page design and interactivity are the major issues of social network site management. Content, link, privacy and security, individual and organization motivation have major impacts on encouraging business knowledge sharing among employees. Moreover, Page design and interactivity, content, organization motivation and knowledge sharing can improve customer relationships.

Keywords: Social network management, social network site, motivation, knowledge sharing, customer relationship

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Authors: Alessandra Agostini, Roberto Boselli, Flavio De Paoli, Riccardo Dondi

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The work presented in this paper focus on Knowledge Management services enabling CSCW (Computer Supported Cooperative Work) applications to provide an appropriate adaptation to the user and the situation in which the user is working. In this paper, we explain how a knowledge management system can be designed to support users in different situations exploiting contextual data, users' preferences, and profiles of involved artifacts (e.g., documents, multimedia files, mockups...). The presented work roots in the experience we had in the MILK project and early steps made in the MAIS project.

Keywords: Information Management Systems, InformationRetrieval, Knowledge Management, Mobile CommunicationSystems.

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Authors: Charawee Butbumrung

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The purpose of this study is to evaluate the monetary worthiness of investment and the usefulness of risk estimation as a tool employed by a production section of an electronic factory. This study employed the case study of accidents occurring in production areas. Data is collected from interviews with six production of safety coordinators and collect the information from the relevant section. The study will present the ratio of benefits compared with the operation costs for investment. The result showed that it is worthwhile for investment with the safety measures. In addition, the organizations must be able to analyze the causes of accidents about the benefits of investing in protective working process. They also need to quickly provide the manual for the staff to learn how to protect themselves from accidents and how to use all of the safety equipment.

Keywords: Cost and benefit, enterprises in Thailand, investment in safety and health, risk estimation.

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Authors: M. Farzadkia, S. Jorfi

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Hospital waste is a category of waste consisting of infectious and non-infectious waste, which pose environmental and health risks. Therefore, special planning and management is required, due to the potential hazards of them. The lack of valid and comprehensive information regarding the generation and management of hospital waste in Iran is one of the most important problems in this field. This research aimed to evaluate hospital waste management efficiency in Karaj city, Iran. The four greatest hospitals in Karaj city had been selected in this cross-sectional study. Site observations and interviews with employees were implemented. The data was gathered based on the hospital waste management questionnaire which was designed by World Health Organization for developing countries. Collected Data had been analyzed using SPSS software. The average of solid waste which was generated per bed was 2.78 kg, which included 90% of domestic waste and 10% of infectious waste. Based on the quantitative analysis of general and infectious waste in these hospitals, the highest contributors of general waste were consisting of food waste (37.39%), while textile (28.06%) were the highest contributors of the infectious waste. According to the information contained in the questionnaires, the main defects of waste management in these hospitals were; inadequate staff in waste management sector, poorly disinfection of solid waste containers and temporary storage locations, and a lack of proper infectious waste treatment. According to the results of this research, waste management in these hospitals were far from optimum conditions. In order to improve the existing conditions, mentioned problems must be solved quickly, and planning for continuous monitoring in the waste management field in these hospitals should be established.

Keywords: Waste management, hospital wastes, solid wastes, Iran.

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Authors: Reza Sigari Tabrizi, Yeap Peik Foong, Nazli Ebrahimi

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The Knowledge Management (KM) Criteria is an essential foundation to evaluate KM outcomes. Different sets of criteria were developed and tailored by many researchers to determine the results of KM initiatives. However, literature review has emphasized on incomplete set of criteria for evaluating KM outcomes. Hence, this paper tried to address the problem of determining the criteria for measuring knowledge management outcomes among different types of Malaysian organizations. Successively, this paper was assumed to develop widely accepted criteria to measure success of knowledge management efforts for Malaysian organizations. Our analysis approach was based on the ANOVA procedure to compare a set of criteria among different types of organizations. This set of criteria was exploited from literature review. It is hoped that this study provides a better picture for different types of Malaysian organizations to establish a comprehensive set of criteria due to measure results of KM programs.

Keywords: KM Criteria, Knowledge Management, KMOutcomes, ANOVA

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Authors: M. C. Arcuri, L. Gai, F. Ielasi

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Italian Central Guarantee Fund (CGF) has the purpose to facilitate Small and Medium-sized Enterprises (SMEs)’ access to credit. The aim of the paper is to study the evaluation method adopted by the CGF with regard to SMEs requiring its intervention. This is even more important in the light of the recent CGF reform. We analyse an initial sample of more than 500.000 guarantees from 2012 to 2018. We distinguish between a counter-guarantee delivered to a mutual guarantee institution and a guarantee directly delivered to a bank. We investigate the impact of variables related to the operations and the SMEs on Altman Z’’-score and the score consistent with CGF methodology. We verify that the type of intervention affects the scores and the initial condition changes with the new assessment criterions. 

Keywords: Banks, default risk, Italian Guarantee Fund, mutual guarantee institutions.

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Authors: Yannan Wu, An Chen, Yan Zhao

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Termination Mechanism is an indispensible part of the emergency management mechanism. Despite of its importance in both theory and practice, it is almost a brand new field for researching. The concept of termination mechanism is proposed firstly in this paper, and the design and implementation which are helpful to guarantee the effect and integrity of emergency management are discussed secondly. Starting with introduction of the problems caused by absent termination and incorrect termination, the essence of termination mechanism is analyzed, a model based on Optimal Stopping Theory is constructed and the termination index is given. The model could be applied to find the best termination time point.. Termination decision should not only be concerned in termination stage, but also in the whole emergency management process, which makes it a dynamic decision making process. Besides, the main subjects and the procedure of termination are illustrated after the termination time point is given. Some future works are discussed lastly.

Keywords: Emergency management, Termination Mechanism, Optimal Termination Model, Decision Making, Optimal StoppingTheory.

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Authors: B. Marasović, S. Pivac, S. V. Vukasović

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Constructing a portfolio of investments is one of the most significant financial decisions facing individuals and institutions. In accordance with the modern portfolio theory maximization of return at minimal risk should be the investment goal of any successful investor. In addition, the costs incurred when setting up a new portfolio or rebalancing an existing portfolio must be included in any realistic analysis. In this paper rebalancing an investment portfolio in the presence of transaction costs on the Croatian capital market is analyzed. The model applied in the paper is an extension of the standard portfolio mean-variance optimization model in which transaction costs are incurred to rebalance an investment portfolio. This model allows different costs for different securities, and different costs for buying and selling. In order to find efficient portfolio, using this model, first, the solution of quadratic programming problem of similar size to the Markowitz model, and then the solution of a linear programming problem have to be found. Furthermore, in the paper the impact of transaction costs on the efficient frontier is investigated. Moreover, it is shown that global minimum variance portfolio on the efficient frontier always has the same level of the risk regardless of the amount of transaction costs. Although efficient frontier position depends of both transaction costs amount and initial portfolio it can be concluded that extreme right portfolio on the efficient frontier always contains only one stock with the highest expected return and the highest risk.

Keywords: Croatian capital market, Fractional quadratic programming, Markowitz model, Portfolio optimization, Transaction costs.

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Authors: Pirada Techaratpong

Abstract:

This qualitative research has 2 objectives: to study marketing management of the cultural learning center in Suansunandha Rajabhat University and to suggest guidelines to improve its marketing management. This research is based on a case study of the Arts and Culture Office in Suansunandha Rajabhat University, Bangkok. This research found the Art and Culture Office has no formal marketing management. However, the marketing management is partly covered in the overall business plan, strategic plan, and action plan. The process can be divided into 5 stages. The marketing concept has long been introduced to its policy but not apparently put into action due to inflexible system. Some gaps are found in the process. The research suggests the Art and Culture Office implement the concept of marketing orientation, meeting the needs and wants of its target customers and adapt to the changing situation. Minor guidelines for improvement are provided.

Keywords: Marketing, management, museum, cultural learning center.

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