Search results for: Economic Factors

Authors: Rajinder Singh, Ram Valluru

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Chain Ladder (CL) method, Expected Loss Ratio (ELR) method and Bornhuetter-Ferguson (BF) method, in addition to more complex transition-rate modeling, are commonly used actuarial reserving methods in general insurance. There is limited published research about their relative performance in the context of Mortgage Insurance (MI). In our experience, these traditional techniques pose unique challenges and do not provide stable claim estimates for medium to longer term liabilities. The relative strengths and weaknesses among various alternative approaches revolve around: stability in the recent loss development pattern, sufficiency and reliability of loss development data, and agreement/disagreement between reported losses to date and ultimate loss estimate. CL method results in volatile reserve estimates, especially for accident periods with little development experience. The ELR method breaks down especially when ultimate loss ratios are not stable and predictable. While the BF method provides a good tradeoff between the loss development approach (CL) and ELR, the approach generates claim development and ultimate reserves that are disconnected from the ever-to-date (ETD) development experience for some accident years that have more development experience. Further, BF is based on subjective a priori assumption. The fundamental shortcoming of these methods is their inability to model exogenous factors, like the economy, which impact various cohorts at the same chronological time but at staggered points along their life-time development. This paper proposes an alternative approach of parametrizing the loss development curve and using logistic regression to generate the ultimate loss estimate for each homogeneous group (accident year or delinquency period). The methodology was tested on an actual MI claim development dataset where various cohorts followed a sigmoidal trend, but levels varied substantially depending upon the economic and operational conditions during the development period spanning over many years. The proposed approach provides the ability to indirectly incorporate such exogenous factors and produce more stable loss forecasts for reserving purposes as compared to the traditional CL and BF methods.

Keywords: Actuarial loss reserving techniques, logistic regression, parametric function, volatility.

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Authors: Vilém Pařil, Dominika Tóthová

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This paper discusses the value theory in cultural heritage and the value theory in environmental economics. Two economic views of the value theory are compared, within the field of cultural heritage maintenance and within the field of the environment. The main aims are to find common features in these two differently structured theories under the layer of differently defined terms as well as really differing features of these two approaches; to clear the confusion which stems from different terminology as in fact these terms capture the same aspects of reality; and to show possible inspiration these two perspectives can offer one another. Another aim is to present these two value systems in one value framework. First, important moments of the value theory from the economic perspective are presented, leading to the marginal revolution of (not only) the Austrian School. Then the theory of value within cultural heritage and environmental economics are explored. Finally, individual approaches are compared and their potential mutual inspiration searched for.

Keywords: Cultural heritage, environmental economics, existence value, value theory.

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Authors: Bolanle Deborah Motilewa, E.K. Rowland Worlu, Gbenga Mayowa Agboola, Marvellous Aghogho Chidinma Gberevbie

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Businesses operating in the modern business world are faced with varying challenges; amongst which is the need to ensure that they are performing their societal function of being responsible in the society in which they operate. This responsibility to society is generally termed as corporate social responsibility. For many years, the practice of corporate social responsibility (CSR) was solely philanthropic, where organizations gave ‘charity’ or ‘alms’ to society, without any link to the organization’s mission and objectives. However, there has arisen a shift in the application of CSR from an act of philanthropy to a strategy with a business model engaged in by organizations to create a win-win situation of performing their societal obligation, whilst simultaneously performing their economic obligation. In more recent times, the term has moved from CSR to creating shared value, which is simply corporate policies and practices that enhance the competitiveness of a business organization while simultaneously advancing social and economic conditions in the communities in which the company operates. Creating shared value has in more recent light found more meaning in underdeveloped countries, faced with deep societal challenges that businesses can solve whilst creating economic value. This study thus reviews literature on CSR, conceptualizing the shift to creating shared value and finally viewing its potential significance in Africa’s development.

Keywords: Corporate social responsibility, shared value, Africapitalism.

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Authors: Chutima Klaysung

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This research aims to study the factors that influence the decision to choose the spa service of consumers in Amphawa, Samut Songkhram, Thailand. The research method will use quantitative research; data were collected by questionnaires distributed to spa consumers, both female and male, aged between 20 years and 70 years in the Amphawa, Samut Songkhram area for 400 samples by convenience sampling method. The data were analyzed using descriptive statistics including percentage, mean, standard deviation and inferential statistics, including Pearson correlation for hypothesis testing. The results showed that the demographic variables including age, education, occupation, income and frequency of access to service spa were related to the decision to choose the spa service of consumers in Amphawa, Samut Songkhram. In addition, the researchers found the marketing mixed factors such as products, prices, places, promotion, personnel selling, physical evidence and processes were associated with the decision to choose the spa service of consumers in Amphawa, Samut Songkhram, Thailand.

Keywords: Consumers in Amphawa, Samut Songkhram, Thailand, decision to choose a spa service, marketing mixed factor, spa service.

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Authors: Libena Cernohorska

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The goal of this paper is to specify factors influencing the profitability of selected banks. Next, a model will be created to help establish variables that have a demonstrable influence on the development of the selected banks' profitability ratios. Czech banks and their international parent companies were selected for analyzing profitability. Banks categorized as large banks (according to the Czech National Bank's system, which ranks banks according to balance sheet total) were selected to represent the Czech banks. Two ratios, the return on assets ratio (ROA) and the return on equity ratio (ROE) are used to assess bank profitability. Six endogenous and four external indicators were selected from among other factors that influence bank profitability. The data analyzed were for 2001–2013. First, correlation analysis, which was supposed to eliminate correlated values, was conducted. A large number of correlated values were established on the basis of this analysis. The strongly correlated values were omitted. Despite this, the subsequent regression analysis of profitability for the individual banks that were selected did not confirm that the selected variables influenced their profitability. The studied factors' influence on bank profitability was demonstrated only for Ceskoslovenska Obchodni Banka and Société Générale using regression analysis. For Československa Obchodni Banka, it was demonstrated that inflation level and the amount of the central bank's interest rate influenced the return on assets ratio and that capital adequacy and market concentration influenced the return on equity ratio for Société Générale.

Keywords: Banks, profitability, regression analysis, ROA, ROE.

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Authors: Nesli Aydin

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Waste management decision making in developing countries has moved towards being more pragmatic, transparent, sustainable and comprehensive. Turkey is required to make its waste related legislation compatible with European Legislation as it is a candidate country of the European Union. Improper Turkish practices such as open burning and open dumping practices must be abandoned urgently, and robust waste management systems have to be structured. The determination of an optimum waste management system in any region requires a comprehensive analysis in which many criteria are taken into account by stakeholders. In conducting this sort of analysis, there are two main criteria which are evaluated by waste management analysts; economic viability and environmentally friendliness. From an analytical point of view, a central characteristic of sustainable development is an economic-ecological integration. It is predicted that building a robust waste management system will need significant effort and cooperation between the stakeholders in developing countries such as Turkey. In this regard, this study aims to provide data regarding the cost and environmental burdens of waste treatment technologies such as an incinerator, an autoclave (with different capacities), a hydroclave and a microwave coupled with updated information on calculation methods, and a framework for comparing any proposed scenario performances on a cost and environmental basis.

Keywords: Decision making, economic viability, environmentally friendliness, stakeholder, waste management systems.

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Authors: G. Erkomaishvili, M. Kobalava, T. Lazariashvili, N. Damenia

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Current state of foreign direct investment (FDI) in Georgia is analyzed and evaluated in the paper, the existing legislative background for regulating investments and stimulating policies to attract investments are shown. It is noted that in developing countries encouragement of investment activity, support and implementation are of the most important tasks, implying a consistent investment policy, investor-friendly tax regime and the legal system, reducing administrative barriers and restrictions, fare competitive conditions and business development infrastructure. The work deals with the determining factor of FDIs and the main directions of stimulation, as well as prospective industries where new investments are needed. Contributing and hindering factors and stimulating measures are analyzed. As a result of the research, the direct and indirect factors attracting FDI have been identified. Facilitating factors to FDI inflow are as follows: simplicity of starting business, geopolitical location, low taxes, access to credit, ease of ownership registration, natural resources, low burden of regulations, low level of corruption and low crime rates. Hindering factors to FDI inflow are as follows: small market, lack of policy for attracting investments, low qualification of the workforce (despite the large number of unemployed people it is difficult to find workers with necessary special skills and qualifications), high interest rates, instability of national currency exchange rate, presence of conflict zones within the country and so forth.

Keywords: Foreign direct investment, investment attracting policies, investor, reinvestment.

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Authors: Osama Elgadi, Martin Birkett, Wai Ming Cheung

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This paper investigates the barriers behind the underutilisation of six sigma in Libyan manufacturing companies (LMCs). A mixed-method methodology is proposed, starting by conducting interviews to collect qualitative data followed by the development of a questionnaire to obtain quantitative data. The focus of this paper is on discussing the findings of the interview stage and how these can be used to further develop the questionnaire stage. The interview results showed that only four key barriers were highlighted as being encountered by LMCs. With a difference in terms of their significance, these factors were identified, and placed in descending order according to their importance, namely: “Lack of top management commitment”, “Lack of training”, “Lack of knowledge about six sigma”, and “Culture effect”. The findings also showed that some barriers which, were found in previous studies of six sigma implementation were not considered as barriers to LMCs but can, in fact, be considered as success factors or enablers for six sigma adoption. These factors were identified as: “sufficiency of time and financial resources”; “customers unsatisfied”; “good communication between all departments in the company”; “we are certain about its results and benefits to our company and unhappy with the current quality system”. These results suggest that LMCs face fewer barriers to adopting six sigma than many well-established global companies operating in other countries and could take advantage of these successful factors by developing and implementing a six sigma framework to improve their product quality and competitiveness.

Keywords: Six sigma, barriers, Libyan manufacturing companies, interview.

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Authors: Khaled Ramadan Elbeydi

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This study is carried out to provide an insight into the analysis of the impact of selected macro-economic variables on gross fixed capital formation in Libya using annual data over the period (1970-2010). The importance of this study comes from the ability to show the relative important factors that impact the Libyan gross fixed capital formation. This understanding would give indications to decision makers on which policy they must focus to stimulate the economy. An Autoregressive Distributed Lag (ARDL) modeling process is employed to investigate the impact of the Gross Domestic Product, Monetary Base and Trade Openness on Gross Fixed Capital Formation in Libya. The results of this study reveal that there is an equilibrium relationship between capital formation and its determinants. The results also indicate that GDP and trade openness largely explain the pattern of capital formation in Libya. The findings and recommendations provide vital information relevant for policy formulation and implementation aimed to improve capital formation in Libya.

Keywords: ARDL, Bounds test, capital formation, Cointegration, Libya.

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Authors: Leila Jafari, Viliam Makis

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In this paper, the joint optimization of the economic manufacturing quantity (EMQ), safety stock level, and condition-based maintenance (CBM) is presented for a partially observable, deteriorating system subject to random failure. The demand is stochastic and it is described by a Poisson process. The stochastic model is developed and the optimization problem is formulated in the semi-Markov decision process framework. A modification of the policy iteration algorithm is developed to find the optimal policy. A numerical example is presented to compare the optimal policy with the policy considering zero safety stock.

Keywords: Condition-based maintenance, economic manufacturing quantity, safety stock, stochastic demand.

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Authors: Davoud Beheshtizadeh, Farzin Malekpour

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The progress of technology and producing new machinery have made a big change in excavation operations and construction of underground structures. The limitations of space and some other economic, politic and military considerations gained the attention of most developed and developing countries towards the construction of these structures for mine, military, and development objectives. Underground highways, tunnels, subways, oil reservoir resources, fuels, nuclear wastes burying reservoir and underground stores are increasingly developing and being used in these countries. The existence and habitability of the cities depend on these underground installations or in other words these vital arteries. Stopping the flow of water, gas leakage and explosion, collapsing of sewage paths, etc., resulting from the earthquake are among the factors that can severely harm the environment and increase the casualty. Lack of sewage network and complete stoppage of the flow of water in Bam (Iran) is a good example of this kind. In this paper, we investigate the effect of wave orientation on structures and deformation of them and the effect of faulting on underground structures, and then, we study resistance of reinforced concrete against earthquake, simulate two different samples, analyze the result and point out the importance of paying attention to underground installations.

Keywords: Earthquake, underground structures, underground installations.

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Authors: Shuaa A. Mutawally, Budor H. Saigh, Ebtehal A. Mutawally

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This study aims to analyze and compare the success factors of play-based intervention programs for children with different abilities in Canada. Children with disabilities often face limited participation in play and physical activities, leading to increased health risks. Understanding the specific features of these interventions that contribute to positive outcomes is crucial to promoting holistic development in these children. A comparative case study approach was used, selecting three similar successful intervention programs through purposive sampling. Data were collected through interviews and program documents, with 40 participants purposively chosen. Thematic analysis was conducted to identify key themes, including Quality Program, Meeting the Needs of Participants, and Lessons Learned from Experts and Practitioners. These programs play a vital role in addressing the gap in community programming for children with different abilities. The results of this study contribute to the generalization of success factors derived from best practices in play-based intervention programs for children with different abilities.

Keywords: Children with different abilities, physical activity, play, play-based intervention programs.

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Authors: Mussa Mahmoudi

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For Seismic design, it is important to estimate, maximum lateral displacement (inelastic displacement) of the structures due to sever earthquakes for several reasons. Seismic design provisions estimate the maximum roof and storey drifts occurring in major earthquakes by amplifying the drifts of the structures obtained by elastic analysis subjected to seismic design load, with a coefficient named “displacement amplification factor" which is greater than one. Here, this coefficient depends on various parameters, such as ductility and overstrength factors. The present research aims to evaluate the value of the displacement amplification factor in seismic design codes and then tries to propose a value to estimate the maximum lateral structural displacement from sever earthquakes, without using non-linear analysis. In seismic codes, since the displacement amplification is related to “force reduction factor" hence; this aspect has been accepted in the current study. Meanwhile, two methodologies are applied to evaluate the value of displacement amplification factor and its relation with the force reduction factor. In the first methodology, which is applied for all structures, the ratio of displacement amplification and force reduction factors is determined directly. Whereas, in the second methodology that is applicable just for R/C moment resisting frame, the ratio is obtained by calculating both factors, separately. The acquired results of these methodologies are alike and estimate the ratio of two factors from 1 to 1.2. The results indicate that the ratio of the displacement amplification factor and the force reduction factor differs to those proposed by seismic provisions such as NEHRP, IBC and Iranian seismic code (standard no. 2800).

Keywords: Displacement amplification factor, Ductility factor, Force reduction factor, Maximum lateral displacement.

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Authors: Pisit Potjanajaruwit

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The objectives of the study were to determine the marketing mix factors that influencing tourist’s destination decision making for cultural tourism in the Chonburi province. Both quantitative and qualitative data were applied in this study. The samples of 400 cases for quantitative analysis were tourists (both Thai and foreign) who were interested in cultural tourism in the Chonburi province, and traveled to cultural sites in Chonburi and 14 representatives from provincial tourism committee of Chonburi and local tourism experts. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. The study found that Thai and foreign tourists are influenced by different important marketing mix factors. The important factors for Thai respondents were physical evidence, price, people, and place at high importance level. For foreign respondents, physical evidence, price, people, and process were high importance level, whereas, product, place and promotion were moderate importance level.

Keywords: Chonburi Province, Decision Making for cultural tourism, Marketing Mixed.

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Authors: Kiyohiro Yamazaki

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This paper considers a forming process of a single competitive factor in the digital camera industry from the viewpoint of product platform. To make product development easier for companies and to increase product introduction ratios, development efforts concentrate on improving and strengthening certain product attributes, and it is born in the process that the product platform is formed continuously. It is pointed out that the formation of this product platform raises product development efficiency of individual companies, but on the other hand, it has a trade-off relationship of causing unification of competitive factors in the whole industry. This research tries to analyze product specification data which were collected from the web page of digital camera companies. Specifically, this research collected all product specification data released in Japan from 1995 to 2003 and analyzed the composition of image sensor and optical lens; and it identified product platforms shared by multiple products and discussed their application. As a result, this research found that the product platformation was born in the development of the standard product for major market segmentation. Every major company has made product platforms of image sensors and optical lenses, and as a result, this research found that the competitive factors were unified in the entire industry throughout product platformation. In other words, this product platformation brought product development efficiency of individual firms; however, it also caused industrial competition factors to be unified in the industry.

Keywords: Digital camera industry, product evolution trajectory, product platform, unification of competitive factors.

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Authors: Dasimah Bt Omar, Faizul Abdullah, Fatimah Yusof, Hazlina Hamdan, Naasah Nasrudin, Ishak Che Abullah

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The impacts of near-campus student housing, or offcampus students accommodation cannot be ignored by the universities and as well as the community officials. Numerous scholarly studies, have highlighted the substantial economic impacts either; direct, indirect or induced, and cumulatively the roles of the universities have significantly contributed to the local economies. The issue of the impacts of off-campus student rental housing on neighbourhoods is one that has been of long-standing but increasing concern in Malaysia. Statistically, in Malaysia, there was approximately a total of 1.2 - 1.5 million students in 2009. By the year 2015, it is expected that 50 per cent of 18 to 30 year olds active population should gain access to university education, amounting to 120,000 yearly. The objectives of the research are to assess the impacts off-campus students on the local neighbourhood and specifically to obtain information on the living and learning conditions of off-campus students of Universiti Teknologi MARA Shah Alam, Malaysia. It is also to isolate those factors that may impede the successful learning so that priority can be given to them in subsequent policy implementations and actions by government and the higher education institutions.

Keywords: off-campus students, neighbourhood, impacts, living and learning conditions

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Authors: Aradhna Pandarum

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South Africa is experiencing an exponential growth of distributed solar PV installations. This is due to various factors with the predominant one being increasing electricity tariffs along with decreasing installation costs, resulting in attractive business cases to some end-users. Despite there being a variety of economic and environmental advantages associated with the installation of PV, their potential impact on distribution grids has yet to be thoroughly investigated. This is especially true since the locations of these units cannot be controlled by Network Service Providers (NSPs) and their output power is stochastic and non-dispatchable. This report details two case studies that were completed to determine the possible voltage and technical losses impact of increasing PV penetration in the Northern Cape of South Africa. Some major impacts considered for the simulations were ramping of PV generation due to intermittency caused by moving clouds, the size and overall hosting capacity and the location of the systems. The main finding is that the technical impact is different on a constrained feeder vs a non-constrained feeder. The acceptable PV penetration level is much lower for a constrained feeder than a non-constrained feeder, depending on where the systems are located.

Keywords: Medium voltage networks, power system losses, power system voltage, solar photovoltaic, PV.

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Authors: Panagiotis I. Mallios, Vassilis S. Moustakis

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The research reported herein presents a conceptual model that explores the relationship between social media factors and entrepreneurial intention, with a focus on the Greek startup ecosystem. The significance of the study is that social media gained importance in explaining the entrepreneurial process, and through them, nascent and potential entrepreneurs seem to get inspired and motivated to initiate their businesses. The research methodology employed in this study included a qualitative research approach, utilizing in-depth interviews with a sample of 15 startup entrepreneurs providing valuable retrospective information. The data collected were analyzed using the content analysis method. The major findings of the study are that social media factors such as usefulness, influence, and credibility have a significant impact on entrepreneurial intention. We also found that social media can be a powerful tool for entrepreneurs to access resources, knowledge and networks that can help them in their venture creation. Overall, this research contributes to the entrepreneurship literature by uncovering the relationship between social media factors and entrepreneurial intention and has implications for entrepreneurial education, policymakers, and official partners, highlighting the potential of social media to enhance the startup ecosystem.

Keywords: Entrepreneurial intention, entrepreneurship, social media, startup ecosystem.

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Air Transport links markets and individuals, making regions more competitive and promoting social and economic development. The assessment of social contribution is the key objective of this paper, focusing on the definition of the components of social dimension and welfare metrics in the national scale. According to a top-down approach, the key dimensions that affect the social welfare are presented. Conventional wisdom is to provide estimations on added value to social issues caused by the air transport development and present the methodology framework for measuring the contribution of transport development in social value chain. Greece is the case study of this paper, providing results from the contribution of air transport infrastructures in national welfare. The application key findings are essential for managers and decision makers to support actions and plans towards economic recovery of an economy presenting strong seasonal characteristics (because of tourism) and suffering from recession.

Keywords: Air transport, social dimension, social coherence, resilient business development, socioeconomic impact.

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Authors: Ali Samadi Afshar, Hamed Harrafi, S.M.Javad Gharib Zahedi

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IFP Group Technology “Sulfrex process" was used in Iran-s South Pars Gas Complex Refineries for removing sulfur compounds such as mercaptans, carbonyl sulfide and hydrogen sulfide, which uses sulfonated cobalt phthalocyanine dispersed in alkaline solution as catalyst. In this technology, catalyst and alkaline solution were used circularly. However the stability of catalyst due to effect of some parameters would reduce with the running of the unit and therefore sweetening efficiency would be decreased. Hence, the aim of this research is study the factors effecting on the stability of catalyst.

Keywords: sulfonated cobalt phthalocyanine, mercaptans, stability, catalyst, sulfur.

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Authors: Ahmad Rouhani

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Iran has several potential for using renewable energies, so use them could significantly contribute to energy supply. The purpose of this paper is to identify the potential of the country and select the appropriate DG technologies with consideration the potential and primary energy resources in the regions. In this context, hybrid energy systems proportionate with the potential of different regions will be determined based on technical, economic, and environmental aspect. In the following the proposed structure will be optimized in terms of size and cost. DG technologies used in this project include photovoltaic system, wind turbine, diesel generator and battery bank. The HOMER software is applied for choosing the appropriate structure and the optimization of system sizing. The results have been analyzed in terms of technical and economic. The performance and the cost of each project demonstrate the appropriate structure of hybrid energy system in that region.

Keywords: Feasibility, Hybrid Energy System, Iran, Renewable Energy.

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Authors: T. Hussain, A. Iqbal, M. W. Siddiqi

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The objective of this study is to examine the validity of Wagner-s law and relationship between economic growth, population and export for Pakistan. The ARDL Bounds cointegration and ECM are utilized for long and short run equilibrium for the period of 1972-2007. Population has considerable role in an economy and exports are the main source to raise the GDP. With the increase in GDP, the government expenditures may or may not increase. The empirical results indicate that the Wagner-s Law does hold, as economic growth is significantly and positively correlated with government expenditures. However, population and exports have also significant and positive impact on government expenditures both in short and long run. The significant and negative coefficient of error correction term in ECM indicates that after a shock, the long rum equilibrium will again converge towards equilibrium about 70.82 percent within a year.

Keywords: ARDL Cointegration, Growth, Pakistan, Wagner's law.

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Authors: Manop Vorasri, Komson Jirapattarasilp, Sittichai Kaewkuekool

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The objective of this research was to study factors, which were affected on surface roughness in high speed milling of hardened tool steel. Material used in the experiment was tool steel JIS SKD 61 that hardened on 60 ±2 HRC. Full factorial experimental design was conducted on 3 factors and 3 levels (3 3 designs) with 2 replications. Factors were consisted of cutting speed, feed rate, and depth of cut. The results showed that influenced factor affected to surface roughness was cutting speed, feed rate and depth of cut which showed statistical significant. Higher cutting speed would cause on better surface quality. On the other hand, higher feed rate would cause on poorer surface quality. Interaction of factor was found that cutting speed and depth of cut were significantly to surface quality. The interaction of high cutting speed associated with low depth of cut affected to better surface quality than low cutting speed and high depth of cut.

Keywords: High-speed milling, Tool steel, SKD 61 Steel, Surface roughness, Cutting speed, Feed rate, Depth of cut

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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: Saheed A. Gbadegeshin

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Commercialization method is a means to make inventions available at the market for final consumption. It is described as an important tool for keeping business enterprises sustainable and improving national economic growth. Thus, there are several scholarly publications on it, either presenting or testing different methods for commercialization. However, young entrepreneurs, technologists and scientists would like to know the best method to commercialize their innovations. Then, this question arises: What is the best commercialization method? To answer the question, a systematic literature review was conducted, and practitioners were interviewed. The literary results revealed that there are many methods but new methods are needed to improve commercialization especially during these times of economic crisis and political uncertainty. Similarly, the empirical results showed there are several methods, but the best method is the one that reduces costs, reduces the risks associated with uncertainty, and improves customer participation and acceptability. Therefore, it was concluded that new commercialization method is essential for today's high technologies and a method was presented.

Keywords: Commercialization method, high technology, lean start-up methodology, technology, knowledge.

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Authors: Nadia H. Mohammed, Anmar Al-Taie, Fadia H. Al-Sultany

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Although breast cancer prevalence continues to increase, mortality has been decreasing as a result of early detection and improvement in adjuvant systemic therapy. Nevertheless, this disease required further efforts to understand and identify the associated potential risk factors that could play a role in the prevalence of this malignancy among Iraqi women. The objective of this study was to assess the perception of certain predictive risk factors on the prevalence of breast cancer types among a sample of Iraqi women diagnosed with breast cancer. This was a retrospective observational study carried out at National Cancer Research Center in College of Medicine, Baghdad University from November 2017 to January 2018. Data of 100 patients with breast cancer whose biopsies examined in the National Cancer Research Center were included in this study. Data were collected to structure a detailed assessment regarding the patients’ demographic, medical and cancer records. The majority of study participants (94%) suffered from ductal breast cancer with mean age 49.57 years. Among those women, 48.9% were obese with body mass index (BMI) 35 kg/m². 68.1% of them had positive family history of breast cancer and 66% had low parity. 40.4% had stage II ductal breast cancer followed by 25.5% with stage III. It was found that 59.6% and 68.1% had positive oestrogen receptor sensitivity and positive human epidermal growth factor (HER2/neu) receptor sensitivity respectively. In regard to the impact of prediction of certain variables on the incidence of ductal breast cancer, positive family history of breast cancer (P < 0.0001), low parity (P< 0.0001), stage I and II breast cancer (P = 0.02) and positive HER2/neu status (P < 0.0001) were significant predictive factors among the study participants. The results from this study provide relevant evidence for a significant positive and potential association between certain risk factors and the prevalence of breast cancer among Iraqi women.

Keywords: Ductal breast cancer, hormone sensitivity, Iraq, risk factors.

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Authors: J. Kluabwang

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An economic operation scheduling problem of a hydro-thermal power generation system has been properly solved by the proposed multipath adaptive tabu search algorithm (MATS). Four reservoirs with their own hydro plants and another one thermal plant are integrated to be a studied system used to formulate the objective function under complicated constraints, eg water managements, power balance and thermal generator limits. MATS with four subsearch units (ATSs) and two stages of discarding mechanism (DM), has been setting and trying to solve the problem through 25 trials under function evaluation criterion. It is shown that MATS can provide superior results with respect to single ATS and other previous methods, genetic algorithms (GA) and differential evolution (DE).

Keywords: Hydro-thermal scheduling problem, economic dispatch, adaptive tabu search, multipath adaptive tabu search

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Authors: Chie Urawa

Abstract:

Cautionary statements or disclaimers in corporate annual reports need to be carefully designed because clear cautionary statements may protect a company in the case of legal disputes and may undermine positive impressions. This study compares the language of cautionary statements using two corpora, Sony’s cautionary statement corpus (S-corpus) and Panasonic’s cautionary statement corpus (P-corpus), illustrating the differences and similarities in relation to the use of meaningful cautionary statements and critically analyzing why practitioners use the way. The findings describe the distinct differences between the two companies in the presentation of the risk factors and the way how they make the statements. The word ability is used more for legal protection in S-corpus whereas the word possibility is used more to convey a better impression in P-corpus. The main similarities are identified in the use of lexical words and pronouns, and almost the same wordings for eight years. The findings show how they make the statements unique to the company in the presentation of risk factors, and the characteristics of specific genre of professional communication. Important implications of this study are that more comprehensive approach can be applied in other contexts, and be used by companies to reflect upon their cautionary statements.

Keywords: Cautionary statements, corporate annual reports, corpus, risk factors.

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Authors: Xiaowen Zhang, Wanda Luen-Wun Siu

Abstract:

Against the background of President Xi Jinping and Vladimir Putin hailing economics at the heart of their bilateral relationship, Putin conveyed that economic cooperation and trade are important to the revitalization of China and Russia. Likewise, President Xi Jinping noted that Russia and China bask in unprecedented great confidence and collaboration. Such amicable relationships may translate into enhanced economic cooperation and Chinese foreign investment in Russia. This paper employed a retrospective review and attempted to analyze Chinese agricultural engagement in Russian Far East, in addition to examining what was dubbed as land grabbing in Russia, probing into the political, economics, and human dimensions on the land debate. Such an analysis is significant as it contributes to the literature on foreign investment in agriculture.

Keywords: Agriculture, Chinese foreign investment, land grabbing, Russian Far East.

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Authors: J.L. Higuera Trujillo, F.J. Montero Fernández

Abstract:

Based on different experiences in the historic centers of Spain, we propose an global strategy for the regeneration of the pre-tertiary fabrics and its application to the specific case of San Mateo neighborhood, in Jerez de la Frontera (Andalusia), through a diagnosis that focus particularly on the punishments the last-decade economic situation (building boom and crisis) and shows the tragic transition from economic center to an imminent disappearance with an image similar to the ruins of war, due to the loss of their traditional roles. From it we will learn their historically-tested mechanisms of environment adaptation, which distill the vernacular architecture essence and that we will apply to our strategy of action based on a dotacional-and-free-space rhizome which rediscovers its hidden character. The architectural fact will be crystallized in one of the example-pieces proposed: The Artistic Revitalization Center.

Keywords: Jerez de la Frontera, pre-tertiary fabrics, sustainable architecture, urban regeneration

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