Search results for: formal financial services

Authors: Shuen-Tai Wang, Hsi-Ya Chang

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Cloud computing is becoming more and more matured over the last few years and consequently the demands for better cloud services is increasing rapidly. One of the research topics to improve cloud services is the desktop computing in virtualized environment. This paper aims at the development of an adaptive virtual desktop service in cloud computing platform based on our previous research on the virtualization technology. We implement cloud virtual desktop and application software streaming technology that make it possible for providing Virtual Desktop as a Service (VDaaS). Given the development of remote desktop virtualization, it allows shifting the user’s desktop from the traditional PC environment to the cloud-enabled environment, which is stored on a remote virtual machine rather than locally. This proposed effort has the potential to positively provide an efficient, resilience and elastic environment for online cloud service. Users no longer need to burden the platform maintenances and drastically reduces the overall cost of hardware and software licenses. Moreover, this flexible remote desktop service represents the next significant step to the mobile workplace, and it lets users access their desktop environments from virtually anywhere.

Keywords: Cloud Computing, Virtualization, Virtual Desktop, VDaaS.

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Authors: Khelood A. Mkalaf, Peter Gibson, John Flanagan

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This study investigates the relationship between the reliability of critical medical equipment (CME) and the effectiveness of CME maintenance management strategies in relation to patient outcomes in 84 public hospitals of a top 20 OECD country. The work has examined the effectiveness of CME maintenance management strategies used by the public hospital system of a large state run health organization. The conceptual framework was designed to examine the significance of the relationship between six variables: (1) types of maintenance management strategies, (2) maintenance services, (3) maintenance practice, (4) medical equipment reliability, (5) maintenance costs and (6) patient outcomes. The results provide interesting insights into the effectiveness of the maintenance strategies used. For example, there appears to be about a 1 in 10 000 probability of failure of anesthesia equipment, but these seem to be confined to specific maintenance situations. There are also some findings in relation to outsourcing of maintenance. For each of the variables listed, results are reported in relation to the various types of maintenance strategies and services. Decision-makers may use these results to evaluate more effective maintenance strategies for their CME and generate more effective patient outcomes.

Keywords: Critical medical equipment, maintenance strategy, patient outcomes, reliability.

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Authors: Armando Cartenì, Ilaria Henke

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The perceived public transport quality is an important driver that influences both customer satisfaction and mobility choices. The competition among transport operators needs to improve the quality of the services and identify which attributes are perceived as relevant by passengers. Among the “traditional” public transport quality attributes there are, for example: travel and waiting time, regularity of the services, and ticket price. By contrast, there are some “non-conventional” attributes that could significantly influence customer satisfaction jointly with the “traditional” ones. Among these, the beauty/aesthetics of the transport terminals (e.g. rail station and bus terminal) is probably one of the most impacting on user perception. Starting from these considerations, the point stressed in this paper was if (and how munch) the travel experience of the overall travel (e.g. how long is the travel, how many transport modes must be used) influences the perception of the public transport quality. The aim of this paper was to investigate the weight of the terminal quality (e.g. aesthetic, comfort and service offered) within the overall travel experience. The case study was the extra-urban Italian bus network. The passengers of the major Italian terminal bus were interviewed and the analysis of the results shows that about the 75% of the travelers, are available to pay up to 30% more for the ticket price for having a high quality terminal. A travel experience effect was observed: the average perceived transport quality varies with the characteristic of the overall trip. The passengers that have a “long trip” (travel time greater than 2 hours) perceived as “low” the overall quality of the trip even if they pass through a high quality terminal. The opposite occurs for the “short trip” passengers. This means that if a traveler passes through a high quality station, the overall perception of that terminal could be significantly reduced if he is tired from a long trip. This result is important and if confirmed through other case studies, will allow to conclude that the “travel experience impact" must be considered as an explicit design variable for public transport services and planning.

Keywords: Transportation planning, sustainable mobility, decision support system, discrete choice model, design problem.

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Authors: P. Vijaya Laxmi, V. Goswami, V. Suchitra

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This paper presents a finite buffer renewal input single working vacation and vacation interruption queue with state dependent services and state dependent vacations, which has a wide range of applications in several areas including manufacturing, wireless communication systems. Service times during busy period, vacation period and vacation times are exponentially distributed and are state dependent. As a result of the finite waiting space, state dependent services and state dependent vacation policies, the analysis of these queueing models needs special attention. We provide a recursive method using the supplementary variable technique to compute the stationary queue length distributions at pre-arrival and arbitrary epochs. An efficient computational algorithm of the model is presented which is fast and accurate and easy to implement. Various performance measures have been discussed. Finally, some special cases and numerical results have been depicted in the form of tables and graphs. 

Keywords: State Dependent Service, Vacation Interruption, Supplementary Variable, Single Working Vacation, Blocking Probability.

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Authors: Shun Hattori

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In recent years, many researches to mine the exploding Web world, especially User Generated Content (UGC) such as weblogs, for knowledge about various phenomena and events in the physical world have been done actively, and also Web services with the Web-mined knowledge have begun to be developed for the public. However, there are few detailed investigations on how accurately Web-mined data reflect physical-world data. It must be problematic to idolatrously utilize the Web-mined data in public Web services without ensuring their accuracy sufficiently. Therefore, this paper introduces the simplest Web Sensor and spatiotemporallynormalized Web Sensor to extract spatiotemporal data about a target phenomenon from weblogs searched by keyword(s) representing the target phenomenon, and tries to validate the potential and reliability of the Web-sensed spatiotemporal data by four kinds of granularity analyses of coefficient correlation with temperature, rainfall, snowfall, and earthquake statistics per day by region of Japan Meteorological Agency as physical-world data: spatial granularity (region-s population density), temporal granularity (time period, e.g., per day vs. per week), representation granularity (e.g., “rain" vs. “heavy rain"), and media granularity (weblogs vs. microblogs such as Tweets).

Keywords: Granularity analysis, knowledge extraction, spatiotemporal data mining, Web credibility, Web mining, Web sensor.

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Authors: Sarma Cakula, Maija Sedleniece

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Simulation and modeling computer programs are concerned with construction of models for analyzing different perspectives and possibilities in changing conditions environment. The paper presents theoretical justification and evaluation of qualitative e-learning development model in perspective of advancing modern technologies. There have been analyzed principles of qualitative e-learning in higher education, productivity of studying process using modern technologies, different kind of methods and future perspectives of e-learning in formal education. Theoretically grounded and practically tested model of developing e-learning methods using different technologies for different type of classroom, which can be used in professor-s decision making process to choose the most effective e-learning methods has been worked out.

Keywords: E-learning, modeling, E-learning methods development, personal knowledge management

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Authors: Nikolai Krainiukov, Boris Melnikov

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We study the properties of maximal prefix codes. The codes have many applications in computer science, theory of formal languages, data processing and data classification. Our approaches to study use finite state automata (so-called flower automata) for the representation of prefix codes. An important task is the decomposition of prefix codes into prime prefix codes (factors). We discuss properties of such prefix code decompositions. A linear time algorithm is designed to find the prime decomposition. We used the GAP computer algebra system, which allows us to perform algebraic operations for free semigroups, monoids and automata.

Keywords: Maximal prefix code, regular languages, flower automata, prefix code decomposing.

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Authors: Mohamed R. Mhereeg

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The paper discusses the implementation of the MultiAgent classification System (MACS) and utilizing it to provide an automated and accurate classification of end users developing applications in the spreadsheet domain. However, different technologies have been brought together to build MACS. The strength of the system is the integration of the agent technology with the FIPA specifications together with other technologies, which are the .NET widows service based agents, the Windows Communication Foundation (WCF) services, the Service Oriented Architecture (SOA), and Oracle Data Mining (ODM). The Microsoft's .NET widows service based agents were utilized to develop the monitoring agents of MACS, the .NET WCF services together with SOA approach allowed the distribution and communication between agents over the WWW. The Monitoring Agents (MAs) were configured to execute automatically to monitor excel spreadsheets development activities by content. Data gathered by the Monitoring Agents from various resources over a period of time was collected and filtered by a Database Updater Agent (DUA) residing in the .NET client application of the system. This agent then transfers and stores the data in Oracle server database via Oracle stored procedures for further processing that leads to the classification of the end user developers.

Keywords: MACS, Implementation, Multi-Agent, SOA, Autonomous, WCF.

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Authors: Ari Lindeman, Melina Maunula, Jani Kiviranta, Ronja Pölkki

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The aim of this paper is to build a vision of the utilization of creative industry competences in industrial and services firms connected to Kymenlaakso region, Finland, smart specialization focus areas. Research indicates that creativity and the use of creative industry’s inputs can enhance innovation and competitiveness. Currently creative methods and services are underutilized in regional businesses and the added value they provide is not well grasped. Methodologically, the research adopts a qualitative exploratory approach. Data is collected in multiple ways including a survey, focus groups, and interviews. Theoretically, the paper contributes to the discussion about the use creative industry competences in regional development, and argues for building regional creative economy ecosystems in close co-operation with regional strategies and traditional industries rather than as treating regional creative industry ecosystem initiatives separate from them. The practical contribution of the paper is the creative vision for the use of regional authorities in updating smart specialization strategy as well as boosting industrial and creative & cultural sectors’ competitiveness. The paper also illustrates a research-based model of vision building.

Keywords: Business, cooperation, creative economy, regional development, vision.

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Authors: Supattra Kanchanopast

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The purpose of this research was to study the customers’ behavioral trend for online accommodation system at Bangkonthi District, Samutsongkhram province. The research collected data from 400 online users. A questionnaire was utilized as the tool in collecting information. Descriptive statistics included frequency, percentage, mean and standard deviation. Independent- sample t- test, analysis of variance and Pearson Correlation were also used. The findings of this research revealed that the majority of the respondents were male, 25-32 years old, and graduated a bachelor degree. The respondents mostly worked in private sectors and had monthly income between 10,001-15,000 baht. The regular online users, visiting this system between 3-4 times/month, spending 1-2 hours/time, searched for online accommodation information. This result showed that the users had good and high attitude towards the system. According to the hypothesis testing, the number of online usage had positive related to the behavioral trends: accommodation purchasing intention and recommend the accommodation to others. Furthermore, both the number of online usage and overall attitude had a significant correlation to accommodation purchase intention and recommend the accommodation to others.

Keywords: Customer Behavior, Information System Management, Online Accommodation Services.

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Authors: Phatthanan Chaiyabut

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The purposes of this research were to identify the perception of customers towards Krung Thai Bank’s image and to understand the customer attitude towards Krung Thai Bank’s image in Bangkok, Thailand. This research utilized quantitative approach and used questionnaire as data collection tool. A sample size of 420 respondents was selected by simple random sampling. The findings revealed that the majority of respondents received information, news, and feeds concerning the bank through televisions the most. This information channel had significantly influenced on the customers and their decisions to utilize the bank’s products and services.

From the information concerning the attitudes towards overall image of the bank, it was found that the majority respondents rated the bank’s image at the good level. The top three average attitudes included the bank’s images in supports government's monetary policies, being renowned and stable, and contributing in economical amendments and developments, with the mean average of 4.01, 3.96 and 3.81 respectively. The attitudes toward the images included a business leader in banking, marketing, and competitions. Offering prompt services, and provided appropriate servicing time were rated moderate with the attitudes of 3.36 and 3.30 respectively.

Keywords: Attitude, Image, Krung Thai bank, Perception.

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Authors: Liwen Hou

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The booming mobile business has been penetrating the taxi industry worldwide with P2P (peer to peer) taxi services, as an emerging business model, transforming the industry. Parallel with other mobile businesses, member recommendations and online reviews are believed to be very effective with regard to acquiring new users for P2P taxi services. Based on an empirical dataset of the taxi industry in China, this study aims to reveal which factors influence users’ recommendations and review-writing behaviors. Differing from the existing literature, this paper takes the taxi driver’s perspective into consideration and hence selects a group of variables related to the drivers. We built two models to reflect the factors that influence the number of recommendations and reviews posted on the platform (i.e., the app). Our models show that all factors, except the driver’s score, significantly influence the recommendation behavior. Likewise, only one factor, passengers’ bad reviews, is insignificant in generating more drivers’ reviews. In the conclusion, we summarize the findings and limitations of the research.

Keywords: Online recommendation, P2P taxi service, review-writing, word of mouth.

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Authors: H. D. Ibrahim, H. C. Chinwenyi, A. H. Usman

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Valuing derivatives (options, futures, swaps, forwards, etc.) is one uneasy task in financial mathematics. The two ways this problem can be effectively resolved in finance is by the use of two methods (Martingales and Partial Differential Equations (PDEs)) to obtain their respective options price valuation formulas. This research paper examined two different stochastic financial models which are Constant Elasticity of Variance (CEV) model and Black-Karasinski term structure model. Assuming their respective option price valuation formulas, we proved the analogous of the Martingales and PDEs options price valuation formulas for the two different Stochastic Differential Equation (SDE) models. This was accomplished by using the applications of Girsanov theorem for defining an Equivalent Martingale Measure (EMM) and the Feynman-Kac theorem. The results obtained show the systematic proof for analogous of the two (Martingales and PDEs) options price valuation formulas beginning with the Martingales option price formula and arriving back at the Black-Scholes parabolic PDEs and vice versa.

Keywords: Option price valuation, Martingales, Partial Differential Equations, PDEs, Equivalent Martingale Measure, Girsanov Theorem, Feyman-Kac Theorem, European Put Option.

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Authors: E. Asgharizadeh, M. Ajalli, S.R. Safavi.M.M, A. Medghalchi

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Electronic Government is one of the special concepts which has been performed successfully within recent decades. Electronic government is a digital, wall-free government with a virtual organization for presenting of online governmental services and further cooperation in different political/social activities. In order to have a successful implementation of electronic government strategy and benefiting from its complete potential and benefits and generally for establishment and applying of electronic government, it is necessary to have different infrastructures as the basics of electronic government with lack of which it is impossible to benefit from mentioned services. For this purpose, in this paper we have managed to recognize relevant obstacles for establishment of electronic government in Iran. All required data for recognition of obstacles were collected from statistical society of involved specialists of Ministry of Communications & Information Technology of Iran and Information Technology Organization of Tehran Municipality through questionnaire. Then by considering of five-point Likert scope and μ =3 as the index of relevant factors of proposed model, we could specify current obstacles against electronic government in Iran along with some guidelines and proposal in this regard. According to the results, mentioned obstacles for applying of electronic government in Iran are as follows: Technical & technological problems, Legal, judicial & safety problems, Economic problems and Humanistic Problems.

Keywords: Government, Electronic Government, InformationTechnology, Obstacles, Iran.

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Authors: Aishwarya Shekhar, Devesh Kumar Srivastava

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Cloud computing has emerged as a promising direction for cost efficient and reliable service delivery across data communication networks. The dynamic location of service facilities and the virtualization of hardware and software elements are stressing the communication networks and protocols, especially when data centres are interconnected through the internet. Although the computing aspects of cloud technologies have been largely investigated, lower attention has been devoted to the networking services without involving IT operating overhead. Cloud computing has enabled elastic and transparent access to infrastructure services without involving IT operating overhead. Virtualization has been a key enabler for cloud computing. While resource virtualization and service abstraction have been widely investigated, networking in cloud remains a difficult puzzle. Even though network has significant role in facilitating hybrid cloud scenarios, it hasn't received much attention in research community until recently. We propose Network as a Service (NaaS), which forms the basis of unifying public and private clouds. In this paper, we identify various challenges in adoption of hybrid cloud. We discuss the design and implementation of a cloud platform.

Keywords: Cloud computing, networking, infrastructure, hybrid cloud, open stack, Naas.

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Authors: Taylan Kabbani, Ekrem Duman

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Deep Reinforcement Learning (DRL) algorithms can scale to previously intractable problems. The automation of profit generation in the stock market is possible using DRL, by combining  the financial assets price ”prediction” step and the ”allocation” step of the portfolio in one unified process to produce fully autonomous systems capable of interacting with its environment to make optimal decisions through trial and error. This work represents a DRL model to generate profitable trades in the stock market, effectively overcoming the limitations of supervised learning approaches. We formulate the trading problem as a Partially observed Markov Decision Process (POMDP) model, considering the constraints imposed by the stock market, such as liquidity and transaction costs. We then solved the formulated POMDP problem using the Twin Delayed Deep Deterministic Policy Gradient (TD3) algorithm and achieved a 2.68 Sharpe ratio on the test dataset. From the point of view of stock market forecasting and the intelligent decision-making mechanism, this paper demonstrates the superiority of DRL in financial markets over other types of machine learning and proves its credibility and advantages of strategic decision-making.

Keywords: Autonomous agent, deep reinforcement learning, MDP, sentiment analysis, stock market, technical indicators, twin delayed deep deterministic policy gradient.

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Authors: J. D. D. Daniel, K. N. Goh, S. M. Yusop

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Trends in business intelligence, e-commerce and remote access make it necessary and practical to store data in different ways on multiple systems with different operating systems. As business evolve and grow, they require efficient computerized solution to perform data update and to access data from diverse enterprise business applications. The objective of this paper is to demonstrate the capability of DTS [1] as a database solution for automatic data transfer and update in solving business problem. This DTS package is developed for the sales of variety of plants and eventually expanded into commercial supply and landscaping business. Dimension data modeling is used in DTS package to extract, transform and load data from heterogeneous database systems such as MySQL, Microsoft Access and Oracle that consolidates into a Data Mart residing in SQL Server. Hence, the data transfer from various databases is scheduled to run automatically every quarter of the year to review the efficient sales analysis. Therefore, DTS is absolutely an attractive solution for automatic data transfer and update which meeting today-s business needs.

Keywords: Data Transformation Services (DTS), ObjectLinking and Embedding Database (OLEDB), Data Mart, OnlineAnalytical Processing (OLAP), Online Transactional Processing(OLTP).

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Authors: Aitana Alonso-Nogueira, Helia Estévez-Fernández, Isaías García

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This paper presents an approach to reduce some of its current flaws in the requirements phase inside the software development process. It takes the software requirements of an application, makes a conceptual modeling about it and formalizes it within JSON documents. This formal model is lodged in a NoSQL database which is document-oriented, that is, MongoDB, because of its advantages in flexibility and efficiency. In addition, this paper underlines the contributions of the detailed approach and shows some applications and benefits for the future work in the field of automatic code generation using model-driven engineering tools.

Keywords: Conceptual modeling, JSON, NoSQL databases, requirements engineering, software development.

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Authors: Kazuki Murakami, Takashige Nakamura, Noriko Sakamoto, Kunio Aizawa

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A Watson-Crick automaton is recently introduced as a computational model of DNA computing framework. It works on tapes consisting of double stranded sequences of symbols. Symbols placed on the corresponding cells of the double-stranded sequences are related by a complimentary relation. In this paper, we investigate a variation of Watson-Crick automata in which both heads read the tape in reverse directions. They are called reverse Watson-Crick finite automata (RWKFA). We show that all of following four classes, i.e., simple, 1-limited, all-final, all-final and simple, are equal to non-restricted version of RWKFA.

Keywords: automaton, DNA computing, formal languages, Watson-Crick automaton

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Authors: Shuen-Tai Wang, Ying-Chuan Chen, Yu-Ching Lin

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There has been renewal of interest in the relation between Green IT and cloud computing in recent years. Cloud computing has to be a highly elastic environment which provides stable services to users. The growing use of cloud computing facilities has caused marked energy consumption, putting negative pressure on electricity cost of computing center or data center. Each year more and more network devices, storages and computers are purchased and put to use, but it is not just the number of computers that is driving energy consumption upward. We could foresee that the power consumption of cloud computing facilities will double, triple, or even more in the next decade. This paper aims at resource allocation and scheduling technologies that are short of or have not well developed yet to reduce energy utilization in cloud computing platform. In particular, our approach relies on recalling services dynamically onto appropriate amount of the machines according to user’s requirement and temporarily shutting down the machines after finish in order to conserve energy. We present initial work on integration of resource and power management system that focuses on reducing power consumption such that they suffice for meeting the minimizing quality of service required by the cloud computing platform.

Keywords: Cloud computing, energy utilization, power consumption, resource allocation.

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Authors: Candido Alcaide, Manuel Dıaz, Luis Llopis, Antonio Marquez, Bartolome Rubio, Enrique Soler

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The increasing complexity of software development based on peer to peer networks makes necessary the creation of new frameworks in order to simplify the developer-s task. Additionally, some applications, e.g. fire detection or security alarms may require real-time constraints and the high level definition of these features eases the application development. In this paper, a service model based on a component model with real-time features is proposed. The high-level model will abstract developers from implementation tasks, such as discovery, communication, security or real-time requirements. The model is oriented to deploy services on small mobile devices, such as sensors, mobile phones and PDAs, where the computation is light-weight. Services can be composed among them by means of the port concept to form complex ad-hoc systems and their implementation is carried out using a component language called UM-RTCOM. In order to apply our proposals a fire detection application is described.

Keywords: Peer-to-peer, mobile systems, real-time, service-oriented architecture.

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Authors: Benjamin Kuester, Bjoern Eilert, Malte Stonis, Ludger Overmeyer

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Increasing quality requirements make reliable and effective quality management indispensable. This includes the complaint handling in which the 8D method is widely used. The 8D report as a written documentation of the 8D method is one of the key quality documents as it internally secures the quality standards and acts as a communication medium to the customer. In practice, however, the 8D report is mostly faulty and of poor quality. There is no quality control of 8D reports today. This paper describes the use of natural language processing for the automated evaluation of 8D reports. Based on semantic analysis and text-mining algorithms the presented system is able to uncover content and formal quality deficiencies and thus increases the quality of the complaint processing in the long term.

Keywords: 8D report, complaint management, evaluation system, text-mining.

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Authors: Anwar Hasan Abdullah Othman, Ahamed Kameel, Hasanuddeen Abdul Aziz

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In this study, attempt has been made to investigate the relationship specifically the causal relation between fund unit prices of Islamic equity unit trust fund which measure by fund NAV and the selected macro-economic variables of Malaysian economy by using VECM causality test and Granger causality test. Monthly data has been used from Jan, 2006 to Dec, 2012 for all the variables. The findings of the study showed that industrial production index, political election and financial crisis are the only variables having unidirectional causal relationship with fund unit price. However the global oil price is having bidirectional causality with fund NAV. Thus, it is concluded that the equity unit trust fund industry in Malaysia is an inefficient market with respect to the industrial production index, global oil prices, political election and financial crisis. However the market is approaching towards informational efficiency at least with respect to four macroeconomic variables, treasury bill rate, money supply, foreign exchange rate, and corruption index.

Keywords: Fund unit price, unit trust industry, Malaysia, macroeconomic variables, causality.

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Authors: Nazym Shedenova, Aigul Beimisheva

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The market transformation in Kazakhstan during the last two decades has essentially strengthened a gap between development of urban and rural areas. Implementation of market institutes, transition from public financing to paid rendering of social services, change of forms of financing of social and economic infrastructure have led to strengthening of an economic inequality of social groups, including growth of stratification of the city and the village. Sociological survey of urban and rural households in Almaty city and villages of Almaty region has been carried out within the international research project “Livelihoods Strategies of Private Households in Central Asia: A Rural–Urban Comparison in Kazakhstan and Kyrgyzstan" (Germany, Kazakhstan, Kyrgyzstan). The analysis of statistical data and results of sociological research of urban and rural households allows us to reveal issues of territorial development, to investigate an availability of medical, educational and other services in the city and the village, to reveal an evaluation urban and rural dwellers of living conditions, to compare economic strategies of households in the city and the village.

Keywords: Urban and rural households, social and economic infrastructure, territorial availability.

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Authors: Ghada A. El Khayat

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This paper argues that a product development exercise involves in addition to the conventional stages, several decisions regarding other aspects. These aspects should be addressed simultaneously in order to develop a product that responds to the customer needs and that helps realize objectives of the stakeholders in terms of profitability, market share and the like. We present a framework that encompasses these different development dimensions. The framework shows that a product development methodology such as the Quality Function Deployment (QFD) is the basic tool which allows definition of the target specifications of a new product. Creativity is the first dimension that enables the development exercise to live and end successfully. A number of group processes need to be followed by the development team in order to ensure enough creativity and innovation. Secondly, packaging is considered to be an important extension of the product. Branding strategies, quality and standardization requirements, identification technologies, design technologies, production technologies and costing and pricing are also integral parts to the development exercise. These dimensions constitute the proposed framework. The paper also presents a mathematical model used to calculate the design targets based on the target costing principle. The framework is used to study a case of a new product development in the telecommunications services sector.

Keywords: Product Development Framework, Quality FunctionDeployment, Mathematical Models, Telecommunications.

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Authors: Siamak Rasulzadeh

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Graph transformation has recently become more and more popular as a general visual modeling language to formally state the dynamic semantics of the designed models. Especially, it is a very natural formalism for languages which basically are graph (e.g. UML). Using this technique, we present a highly understandable yet precise approach to formally model and analyze the behavioral semantics of UML 2.0 Activity diagrams. In our proposal, AGG is used to design Activities, then using our previous approach to model checking graph transformation systems, designers can verify and analyze designed Activity diagrams by checking the interesting properties as combination of graph rules and LTL (Linear Temporal Logic) formulas on the Activities.

Keywords: UML 2.0 Activity, Verification, Model Checking, Graph Transformation, Dynamic Semantics.

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Authors: Ilias A. Makris

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In this work, we attempt to associate firm characteristics with innovative activity. We collect microdata from listed firms of selected Eurozone Country-members, after the beginning of 2007 financial crisis. The following literature, several indicators of growth and performance were selected and tested for their ability to interpret innovative activity. The main scope is to examine the possible differences in performance and growth between innovative and non-innovative firms, during a severe recession. Additionally to that, a special focus will be held on whether macroeconomic performance and national innovation system, determines the extent of innovators' performance. Preliminary findings, through correlation matrices and non-parametric tests, strongly indicate the positive relation between innovative activity and most of the measures used (profitability, size, employment), confirming that even during a recessionary period, innovative firms not only survive but also seem to succeed better economic results in almost all indexes relative to non-innovative. However, even though innovators seem to perform better in all economies examined, the extent of that performance seems to be strongly affected by the supportive mechanisms (financial and structural) that their country provides. Thus, it is clear, that the technologically intensive 'gap' between European South and North, during the economic crisis, became chaotic, due to the harsh austerity measures and reduced budgets in those countries, even in sectors with high potentials in economic activity and employment, impairing the effects of crisis and enhancing the vicious circle of recession.

Keywords: Eurozone, innovative activity, development, firm performance, non-parametric tests.

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Authors: Sareh Rajabi, Salwa Bheiry

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In general, Covid-19 created many financial and non-financial damages to the economy and community. Level and severity of covid-19 as pandemic case varies over the region and due to different types of the projects. Covid-19 virus emerged as one of the most imperative risk management factors word-wide recently. Therefore, as part of portfolio management assessment, it is essential to evaluate severity of such risk on the project and program in portfolio management level to avoid any risky portfolio. Covid-19 appeared very effectively in South America, part of Europe and Middle East. Such pandemic infection affected the whole universe, due to lock down, interruption in supply chain management, health and safety requirements, transportations and commercial impacts. Therefore, this research proposes Analytical Hierarchy Process (AHP) to analyze and assess such pandemic case like Covid-19 and its impacts on the construction projects. The AHP technique uses four sub-criteria: Health and safety, commercial risk, completion risk and contractual risk to evaluate the project and program. The result will provide the decision makers with information which project has higher or lower risk in case of Covid-19 and pandemic scenario. Therefore, the decision makers can have most feasible solution based on effective weighted criteria for project selection within their portfolio to match with the organization’s strategies.

Keywords: Portfolio management, risk management, COVID-19, analytical hierarchy process technique.

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Authors: Anu Paul, Varghese Paul

Abstract:

The focal aspire of e-Government (eGovt) is to offer citizen-centered service delivery. Accordingly, the citizenry consumes services from multiple government agencies through national portal. Thus, eGovt is an enterprise with the primary business motive of transparent, efficient and effective public services to its citizenry and its logical structure is the eGovernment Enterprise Architecture (eGEA). Since eGovt is IT oriented multifaceted service-centric system, EA doesn’t do much on an automated enterprise other than the business artifacts. Service-Oriented Architecture (SOA) manifestation led some governments to pertain this in their eGovts, but it limits the source of business artifacts. The concurrent use of EA and SOA in eGovt executes interoperability and integration and leads to Service-Oriented e-Government Enterprise (SOeGE). Consequently, agile eGovt system becomes a reality. As an IT perspective eGovt comprises of centralized public service artifacts with the existing application logics belong to various departments at central, state and local level. The eGovt is renovating to SOeGE by apply the Service-Orientation (SO) principles in the entire system. This paper explores IT perspective of SOeGE in India which encompasses the public service models and illustrated with a case study the Passport service of India.

Keywords: Enterprise Architecture, Service-Oriented e-Government Enterprise, Service Interface Layer, Service Model.

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Authors: Taru Hakanen, Mervi Murtonen

Abstract:

This study aims to increase understanding of the transition of business models in servitization. The significance of service in all business has increased dramatically during the past decades. Service-dominant logic (SDL) describes this change in the economy and questions the goods-dominant logic on which business has primarily been based in the past. A business model canvas is one of the most cited and used tools in defining end developing business models. The starting point of this paper lies in the notion that the traditional business model canvas is inherently goods-oriented and best suits for product-based business. However, the basic differences between goods and services necessitate changes in business model representations when proceeding in servitization. Therefore, new knowledge is needed on how the conception of business model and the business model canvas as its representation should be altered in servitized firms in order to better serve business developers and interfirm co-creation. That is to say, compared to products, services are intangible and they are co-produced between the supplier and the customer. Value is always co-created in interaction between a supplier and a customer, and customer experience primarily depends on how well the interaction succeeds between the actors. The role of service experience is even stronger in service business compared to product business, as services are co-produced with the customer. This paper provides business model developers with a service business model canvas, which takes into account the intangible, interactive, and relational nature of service. The study employs a design science approach that contributes to theory development via design artifacts. This study utilizes qualitative data gathered in workshops with ten companies from various industries. In particular, key differences between Goods-dominant logic (GDL) and SDLbased business models are identified when an industrial firm proceeds in servitization. As the result of the study, an updated version of the business model canvas is provided based on service-dominant logic. The service business model canvas ensures a stronger customer focus and includes aspects salient for services, such as interaction between companies, service co-production, and customer experience. It can be used for the analysis and development of a current service business model of a company or for designing a new business model. It facilitates customer-focused new service design and service development. It aids in the identification of development needs, and facilitates the creation of a common view of the business model. Therefore, the service business model canvas can be regarded as a boundary object, which facilitates the creation of a common understanding of the business model between several actors involved. The study contributes to the business model and service business development disciplines by providing a managerial tool for practitioners in service development. It also provides research insight into how servitization challenges companies’ business models.

Keywords: Boundary object, business model canvas, managerial tool, service-dominant logic.

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