Search results for: stock market interdependence.

Authors: Davinder Singh, Jaimal Singh Khamba, Tarun Nanda

Abstract:

The importance of MSMEs in India became crucial in rural areas because it promoted economic growth. MSMEs play a significant role in the economic growth of the country owing to production, exports and employment. Technology development reflect a critical way in which organization respond to either technological or market challenges. The present survey examines the characteristics of technology development in MSMEs. The results show that Indian MSMEs do not co-operate with universities and R&D institutes. Government policies also affect the technology development activities. The awareness about the R&D infrastructure is very low as shown by the results in the study. There is a need to understand and assess the real needs of the MSMEs and accordingly devise approaches that ensure their sustainable growth.

Keywords: MSMEs, technology development, networks, financial management and R&D infrastructure.

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Authors: Robest Flasza, Milan Rippel, Jan Solc

Abstract:

The main aim of this paper is to develop and calibrate an econometric model for modeling prices of long term electricity futures contracts. The calibration of our model is performed on data from EEX AG allowing us to capture the specific features of German electricity market. The data sample contains several structural breaks which have to be taken into account for modeling. We model the data with an ARIMAX model which reveals high correlation between the price of electricity futures contracts and prices of LT futures contracts of fuels (namely coal, natural gas and crude oil). Besides this, also a share price index of representative electricity companies traded on Xetra, spread between 10Y and 1Y German bonds and exchange rate between EUR and USD appeared to have significant explanatory power over these futures contracts on EEX.

Keywords: electricity futures, EEX, ARIMAX, emissionallowances

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Authors: Rade M. Ciric

Abstract:

The paper shows the development and implementation of the syllabus of the subject 'Distribution and Industrial Networks', attended by the vocational specialist Year 4 students of the Electric Power Engineering study programme at the Higher Education Technical School of Vocational Studies in Novi Sad. The aim of the subject is to equip students with the knowledge necessary for planning, exploitation and management of distributive and industrial electric power networks in an open electricity market environment. The results of the evaluation of educational outcomes on the subject are presented and discussed.

Keywords: Engineering education, power distribution network, syllabus implementation, outcome evaluation.

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Authors: Kailash, Rajeev Kumar Saha, Sanjeev Goyal

Abstract:

Internal supply chain management benchmarking practice is necessary to overcome manufacturing industrial performance gap. The main purpose of this research work is to combine the benchmarking and internal supply chain practices to improve the performance of Indian manufacturing industries. In this paper, the main aim is to discuss the components of internal supply chain between suppliers and customers after that explain the scope of ISCM benchmarking in manufacturing industries.

Keywords: Competitive environment, internal supply chain management components, benchmarking practice, manufacturing industries, market potential.

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Authors: A. Bencsik, 1V. Lıre, 2, I. Marosi

Abstract:

Intensive changes of environment and strong market competition have raised management of information and knowledge to the strategic level of companies. In a knowledge based economy only those organizations are capable of living which have up-to-date, special knowledge and they are able to exploit and develop it. Companies have to know what knowledge they have by taking a survey of organizational knowledge and they have to fix actual and additional knowledge in organizational memory. The question is how to identify, acquire, fix and use knowledge effectively. The paper will show that over and above the tools of information technology supporting acquisition, storage and use of information and organizational learning as well as knowledge coming into being as a result of it, fixing and storage of knowledge in the memory of a company play an important role in the intelligence of organizations and competitiveness of a company.

Keywords: Individual memory, organizational memory, knowledge management, organizational intelligence.

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Authors: Peter Yang

Abstract:

Green incentives are included in the “American Recovery and Reinvestment Act of 2009" (ARRA). It is, however, unclear how these government incentives can be carried out most effectively according to market-based principles and if they can serve as a catalyst for an accelerated green transformation and an ultimate solution to the current U.S. and global economic and financial crisis. The article will compare the existing U.S. green economic policies with those in Germany, identify problems, and suggest improvements to allow the green stimulus incentives to achieve the best results in the process of an accelerated green transformation. The author argues that the current U.S. green stimulus incentives can only be most successful if they are carried out as part of a visionary, comprehensive, long-term, and consistent strategy of the green economic transformation.

Keywords: Green incentives, financial crisis, green economy, renewable energy sources, energy efficiency.

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Authors: René Díaz-Pichardo, Cecilia Cantú-González, Patricia López-Hernández

Abstract:

The development of entrepreneurial competences of farmers has been pointed out as a necessary condition for the modernization of land in facing the phenomenon of globalization. However, the educational processes involved in such a development have been studied little, especially in emerging economies. This research aims to enlighten some of the critical issues behind the early stages of the transformation of farmers into entrepreneurs, through in depth interviews with farmers, entrepreneurial promoters and public officials participating in a public pilot project in Mexico. Although major impacts were expected only in the long run, important positive changes in the mind set of farmers and other participants were found in early stages of the intervention. Apparently, the farmers started a process of becoming more conscious about the importance of preserving the aquiferous resources, as well as more market and entrepreneurial oriented.

Keywords: entrepreneurial training, farmers, land development.

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Authors: Pressca Neging, Rosidah Musa, Rabiah Abdul Wahab

Abstract:

The rapid adoption of Internet has turned the Millennial Teens- life like a lightning speed. Empirical evidence has illustrated that Pathological Internet Use (PIU) among them ensure long-term success to the market players in the children industry. However, it creates concerns among their care takers as it generates mental disorder among some of them. The purpose of this paper is to examine the determinants of PIU and identify its outcomes among urban Millennial Teens. It aims to develop a theoretical framework based on a modified Media System Dependency (MSD) Theory that integrates important systems and components that determine and resulted from PIU.

Keywords: Internet, media system dependency theory, millennial, pathological internet use.

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Authors: Zhanna Mingaleva, Kseniy Balkova

Abstract:

Today many countries have the ambitious purposes of long-term and continuous development: constant growth of competitiveness, maintenance of a high standard of living of the population, leadership in the world market. One of the best possible ways of achievement of these purposes is a transition of the countries to innovative economy. The paper presents the analyses of problems of forming of innovative receptivity to innovations and creation of «innovative society». Creation of an innovative culture in a society and increase of the level of prestige of innovative activity are the best ways of developing of innovative processes. The base of the analysis is a comparing of Russia and different developed countries according to the level of some indictors of innovative activity.1

Keywords: innovative activity, innovative development ofeconomy, innovative receptivity, «innovative society»

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Authors: Lee Ock-Sun

Abstract:

The effective development of a geoscience education and training program takes account of the rapidly changing environment in the geoscience market, includes information about resource-rich countries which have international education demands. In this paper, we introduce the geoscience program run by the International School for Geoscience Resources at the Korea Institute of Geoscience and Mineral Resources (IS-Geo of KIGAM), and show its remarkable performance. To further effective geoscience program planning and operation, we present recommendations for strategic management for customer-oriented operation with a more favorable program format and advanced training aids. Above all, the IS-Geo of KIGAM should continue improve through ‘plan-do-see-feedback’ activities based on the recommendations.

Keywords: Demand survey, geoscience program, program performance, strategic management.

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Authors: A.A. Amran, S. R. M. Shukri, S. M. Taib

Abstract:

The role of entrepreneurs in generating the economy is very important. Thus, nurturing entrepreneurship skills among society is very crucial and should start from the early age. One of the methods is to teach through game such as board game. Game provides a fun and interactive platform for players to learn and play. Besides that as today-s world is moving towards Islamic approach in terms of finance, banking and entertainment but Islamic based game is still hard to find in the market especially games on entrepreneurship. Therefore, there is a gap in this segment that can be filled by learning entrepreneurship through game. The objective of this paper is to develop an entrepreneurship digital-based game entitled “Catur Bistari" that is based on Islamic business approach. Knowledge and skill of entrepreneurship and Islamic business approach will be learned through the tasks that are incorporated inside the game.

Keywords: Board game, educational game, entrepreneurship, Islamic finance and simulation.

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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.

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Authors: Liubov Evstigneeva

Abstract:

In this paper an attempt is made to establish causal nexuses between innovation and international trade in Russia. The topicality of this issue is determined by the necessity of choosing policy instruments for economic modernization and transition to innovative development. The vector auto regression (VAR) model and Granger test are applied for the Russian monthly data from 2005 until the second quartile of 2015. Both lagged import and export at the national level cause innovation, the latter starts to stimulate foreign trade since it is a remote lag. In comparison to aggregate data, the results by patent’s categories are more diverse. Importing technologies from foreign countries stimulates patent activity, while innovations created in Russia are only Granger causality for import to Commonwealth of Independent States.

Keywords: Export, import, innovation, patents.

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Authors: Joel S. Akintayo, Ramat T. Salman

Abstract:

The stakeholders’ pressure on corporate managers to maintain firm’s profitability has created economic incentives for management to engage in earnings management practices. Therefore, this study examines the effects of audit quality and corporate governance on earnings management of quoted deposit money banks (DMBs) in Nigeria. This study specifically investigates the influence of audit tenure, audit fee, board independence, and board size on earnings management of DMBs. Explanatory research design was employed in carrying out the study while secondary data were sourced from the annual reports and accounts of all the 15 quoted DMBs in Nigerian Stock Exchange as at December 31, 2015 for a period of 10 years covering from 2006 to 2015. The data obtained for the study were analyzed using panel regression analysis approach. The findings reveal that board independence has a negative significant effect on earnings management at a 5% level of significance (p=0.002), while audit fee has a positive significant effect on earnings management at a 5% level of significance (p=0.013) and audit tenure has a negative significant effect on earnings management of DMBs at a 5% level of significance (p=0.003). Surprisingly, board size was statistically not significant at a 5% level of significance (p=0.086). The study concludes that high audit quality and sound corporate governance could improve the earnings quality of DMBs. Hence, the study recommends that the authorities saddled with the responsibility of banking supervision in Nigeria such the Securities and Exchange Commission (SEC) and CBN to advise the National Assembly in Nigeria to pass into law the three years professional requirement for audit tenure.

Keywords: Audit quality, audit tenure, audit fee, board independence, corporate governance, earnings management.

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Authors: Wartika, Kridanto Surendro, Husni Sastramiharja, Iping Supriana S.

Abstract:

The condition of the market is currently very dynamic, demanding organizations which is use system information to support the achievement of objectives should be necessarily improve the ability of information systems in accordance with the changes. Improved information systems capabilities need to align with the resource capabilities in internal environment of the organization, and vice versa. Alignment model between information systems and environment organizational in this capability perspective is expected can assist management in making the strategy for enhance the capability of information systems in accordance with resources internally within the organization, efficiency in the process of development, and optimization of contributions information systems in achieving organizational goals.

Keywords: Capability, alignment, information system, environmental organizations.

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Authors: Linda, Sau-ling LAI

Abstract:

This paper addresses the fundamental requirements for starting an online business. It covers the process of ideation, conceptualization, formulation, and implementation of new venture ideas on the Web. Using Facebook as an illustrative example, we learn how to turn an idea into a successful electronic business and to execute a business plan with IT skills, management expertise, a good entrepreneurial attitude, and an understanding of Internet culture. The personality traits and characteristics of a successful e-commerce entrepreneur are discussed with reference to Facebook-s founder, Mark Zuckerberg. Facebook is a social and e-commerce success. It provides a trusted environment of which participants can conduct business with social experience. People are able to discuss products before, during the after the sale within the Facebook environment. The paper also highlights the challenges and opportunities for e-commerce entrepreneurial startups to go public and of entering the China market.

Keywords: F-Commerce, Entrepreneur, Startup, E-Commerce

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Authors: Ying-Hsiu Chen, Pao-Peng Hsu

Abstract:

This paper adopts a two-stage data envelopment analysis to explore the impacts of financial development and bank operating scale on bank efficiencies. The sample comprises unbalanced panel data of 32 Taiwanese listed domestic commercial banks over the period 1998 to 2013. Empirical results show that pure technical efficiency is positively related to financial development, whereas the effect of financial development on scale efficiency is insignificant. Enlargement of bank operating scale improves bank efficiencies, but the efficiency gains are decreased gradually when the scale increases. Increases in capital adequacy ratio and market power of loans lead into a growth of bank efficiencies.

Keywords: Financial development, Operating scale, Efficiency, DEA.

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Authors: Esyin Chew, Haydn Blackey

Abstract:

There are increasingly plagiarism offences for students in higher education in the digital educational world. On the other hand, various and competitive online assessment and plagiarism detection tools are available in the market. Taking the University of Glamorgan as a case study, this paper describes and introduces an institutional journey on electronic plagiarism detection to inform the initial experience of an innovative tool and method which could be further explored in the future research. The comparative study and system workflow for e-plagiarism detection tool are discussed. Benefits for both academics and students are also presented. Electronic plagiarism detection tools brought great benefits to both academics and students in Glamorgan. On the other hand, the debates raised in such initial experience are discussed.

Keywords: Educational Technology, Plagiarism detection, Turnitin

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Authors: L. Dagilienė

Abstract:

The article explores the impact of normative institutional factors on the development of sustainability reporting. The vast majority of research in the scientific literature focuses on mandatory institutional factors, i.e. how public institutions and market regulators affect sustainability reporting. Meanwhile, there is lack of empirical data for the impact of normative institutional factors. The effect of normative factors in this paper is based on the role of non-governmental organizations (NGO) and institutional theory. The case of Global Compact Local Network in the developing country was examined. The research results revealed that in the absence of regulated factors, companies were not active with regard to social disclosures; they presented non-systemized social information of a descriptive nature. Only 10% of sustainability reports were prepared using the GRI methodology. None of the reports were assured by third parties.

Keywords: Institutional theory, normative, sustainability reporting.

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Authors: N. Sefiani, L. Chraibi, K. Reklaoui, Y. Sefiani

Abstract:

Currently, business environment is characterized by pressure caused by stiff competition, constant changes (e.g., product/ technological innovations, decreasing product lifecycles, and product proliferation), and a high level of market uncertainty band unpredictability. The agility of the Supply Chain Management (SCM) is clearly identified as a key factor for success and a strategic essential lever. This paper explores the impact of deploying competence management and Supply Chain Operations Reference (SCOR) model on firm performance. Our approach is based on a systemic view by considering the SCOR reference model as the heart of competence management system.

Keywords: Competence, competence management, performance, SCOR model and agility.

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Authors: Sebastian Tschöpe, Konja Knüppel, Peter Nyhuis

Abstract:

In times when product life cycles are decreasing, while market demands are increasing, manufacturing enterprises are confronted with the challenge of more frequent and more complex ramp-ups. Thus it becomes obvious that ramp-up management is going to be a topic enterprises have to focus on in the future. Since each ramp-up is unique concerning the product, the process, the technology, the circumstances and the coaction of these four factors, the knowledge of the ramp-up situation and the current ramp-up capability of the enterprise are fundamental requirements for the subsequent improvement of the ramp-up capability of the production system.

In this article a methodology is going to be presented which can be used to define typical production ramp-up situations, to identify the current ramp-up capability of a production system and to improve it with respect to a specific situation. Additionally there will be a description of the functionality of a software-tool developed based on this methodology.

Keywords: Assessment methodology, ramp-up, ramp-up capability, software-tool.

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Authors: A. Tellaeche, R. Arana

Abstract:

Injection molding is a very complicated process to monitor and control. With its high complexity and many process parameters, the optimization of these systems is a very challenging problem. To meet the requirements and costs demanded by the market, there has been an intense development and research with the aim to maintain the process under control. This paper outlines the latest advances in necessary algorithms for plastic injection process and monitoring, and also a flexible data acquisition system that allows rapid implementation of complex algorithms to assess their correct performance and can be integrated in the quality control process. This is the main topic of this paper. Finally, to demonstrate the performance achieved by this combination, a real case of use is presented.

Keywords: Plastic injection, machine learning, rapid complex algorithm prototyping.

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Authors: Adrian Bostan, Nicolae Tapus, Adriana Tapus

Abstract:

The purpose of this research paper is to study and develop a system that is able to help identify problems and improve human rehabilitation after traumatic injuries. Traumatic injuries in human’s lower limbs can occur over a life time and can have serious side effects if they are not treated correctly. In this paper, we developed an intelligent cane (IntelliCane) so as to help individuals in their rehabilitation process and provide feedback to the users. The first stage of the paper involves an analysis of the existing systems on the market and what can be improved. The second stage presents the design of the system. The third part, which is still under development is the validation of the system in real world setups with people in need. This paper presents mainly stages one and two.

Keywords: IntelliCane, 3D printing, microprocessor, weight measurement, rehabilitation tool.

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Authors: Poo Bee Tin, Rahmah Ismail, Norasmah Othman

Abstract:

Globalisation is a phenomenon that cannot be avoided. As globalisation allowed free flow of inputs including labour, it may affect job opportunities for the locals. Therefore, investigate the determinants of labour supply is essential in understanding the structure of labour market in the new era of globalization. The objective of this article is to examine labour supply by taking into account the globalisation effect. The study covers 3885 households in Peninsular Malaysia who are chosen using stratified random sampling. The labour supply model will be the basis for the analysis. The basic labour supply determinants are own wage and non-labour income. However, the extended labour supply model incorporates other variables like spouse wage，number of children and individuals characteristics like education level and age. Besides, the globalization indicator will also be incorporated as another independent variable.

Keywords: globalization, head of households, labour supply, wage

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Authors: Yin-Ling, Lin

Abstract:

This paper suggests a rethinking of the existing research about Genetically Modified (GM) food. Since the first batch of GM food was commercialised in the UK market, GM food rapidly received and lost media attention in the UK. Disagreement on GM food policy between the US and the EU has also drawn scholarly attention to this issue. Much research has been carried out intending to understand people-s views about GM food and the shaping of these views. This paper was based on the data collected in twenty-nine semi-structured interviews, which were examined through Erving Goffman-s idea of self-presentation in interactions to suggest that the existing studies investigating “consumer attitudes" towards GM food have only considered the “front stage" in the dramaturgic metaphor. This paper suggests that the ways in which people choose to present themselves when participating these studies should be taken into account during the data analysis.

Keywords: Boundary work, demarcation of science, GM food, self-presentation

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Authors: B. Fahimnia, L.H.S. Luong, B. Motevallian, R. M. Marian, M. M. Esmaeil

Abstract:

Product Lead Time (PLT) is the period of time from receiving a customer's order to delivering the final product. PLT is an indicator of the manufacturing controllability, efficiency and performance. Due to the explosion in the rate of technological innovations and the rapid changes in the nature of manufacturing processes, manufacturing firms can bring the new products to market quicker only if they can reduce their PLT and speed up the rate at which they can design, plan, control, and manufacture. Although there is a substantial body of research on manufacturing relating to cost and quality issues, there is no much specific research conducted in relation to the formulation of PLT, despite its significance and importance. This paper analyzes and formulates PLT which can be used as a guideline for achieving the shorter PLT. Further more this paper identifies the causes of delay and factors that contributes to the increased product lead-time.

Keywords: Manufacturing Control, Manufacturing Lead Time, Manufacturing Planning, Product Design, and Product Lead Time.

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Authors: Randa I. Elanwar, Mohsen A. Rashwan, Samia A. Mashali

Abstract:

The last two decades witnessed some advances in the development of an Arabic character recognition (CR) system. Arabic CR faces technical problems not encountered in any other language that make Arabic CR systems achieve relatively low accuracy and retards establishing them as market products. We propose the basic stages towards a system that attacks the problem of recognizing online Arabic cursive handwriting. Rule-based methods are used to perform simultaneous segmentation and recognition of word portions in an unconstrained cursively handwritten document using dynamic programming. The output of these stages is in the form of a ranked list of the possible decisions. A new technique for text line separation is also used.

Keywords: Arabic handwriting, character recognition, cursive handwriting, on-line recognition.

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Authors: Humaira Liaquat, Nadeem Iftikhar, Shaukat Ali, Zohaib Zafar Iqbal

Abstract:

In the current age, retrieval of relevant information from massive amount of data is a challenging job. Over the years, precise and relevant retrieval of information has attained high significance. There is a growing need in the market to build systems, which can retrieve multimedia information that precisely meets the user's current needs. In this paper, we have introduced a framework for refining query results before showing it to the user, using ambient intelligence, user profile, group profile, user location, time, day, user device type and extracted features. A prototypic tool was also developed to demonstrate the efficiency of the proposed approach.

Keywords: Context aware retrieval, Information retrieval, Ambient Intelligence, Multimedia databases, User and group profile.

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Authors: Zuzana Crhová, Marie Paseková

Abstract:

This contribution aims to compare legislation adjusting the course of insolvency proceedings in France, Germany and Slovakia. On the basis of an investigation of the legislative adjustment of this problem, an attempt is made to ascertain in the given countries the extent to which the outcome of the entire proceedings is influenced by legislation and to determine the fundamental moments that influence costs, recovery rate and the duration of proceedings. A comparative analysis was utilized in order to achieve the set goal. The results of the survey could be used to improve legislation so as to lead in the best and most expedient way to a departure from the market of those subjects that are for economic reasons unable to continue with their activities whilst burdening the entire process with the lowest possible costs, which would lead to a high level of satisfaction for creditors. 

Keywords: Costs, Insolvency Proceeding, Recovery Rate, Time.

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Authors: Nor'Aini Yusof, Ismael Younis Abu-Jarad

Abstract:

This paper investigated the organizational innovativeness of public listed housing developers in Malaysia. We conceptualized organizational innovativeness as a multi-dimensional construct consisting of 5 dimensions: market innovativeness, product innovativeness, process innovativeness, behavior innovativeness and strategic innovativeness. We carried out questionnaire survey with all accessible public listed developers in Malaysia and received a 56 percent response. We found that the innovativeness of public listed housing developers is low. The study extends the knowledge on innovativeness theory by using a multi-dimensional contructs to conceptualize the innovativeness of public listed housing developers in Malaysia where all this while most studies focused on single dimensional construct of innovativeness. The paper ends by providing some explanations for the results.

Keywords: innovativeness, housing industry, measurement ofinnovativeness, public listed housing developers.

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