Search results for: Economic Reform

Authors: Khalid Hassan Abdesamed, Kalsom Abd Wahab

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Economic development and growth are significantly linked to the consistent and sustainable sector of small and medium enterprises (SMEs). Banks are the frontrunners in financing and advising SMEs. The main objective of the study is to assess the tendency of SMEs to use the Islamic bank. Model was developed using quantitative method with a hypothetical-deductive testing approach. Model (N = 364) used primary data on the tendency of SMEs to use Islamic banks gathered from questionnaire. It is found by Mann-Whitney test that the tendency to use Islamic bank varies between those firms which consider formal financing with the ones relying on informal financing with the latter tends more to use Islamic bank. This study can serve academic researchers, policy makers, and developing countries as a model of SMEs’ desirability to Islamic banking.

Keywords: Formal financing, informal financing, Islamic bank, SMEs.

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Authors: Liu Ji-Wei, Pei Yu-Liang, Liu Qian, Han Xiang, Zeng De-Liang

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The economic and stable operation was affected seriously by coal quality disturbance for power plants. Based on model analysis, influence of the disturbance can be considered as gain change of control system. Power capability coefficient of coal was constructed to inhibit it. Accuracy of the coefficient was verified by operating data. Then coal quality disturbance free system based on gain scheduling was designed for coordinated control system. Simulation showed that, the strategy improved control quality obviously, and inhibited the coal quality disturbance.

Keywords: coordinate control system, coal quality disturbance, energy coefficient of coal quality, gain scheduling

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Authors: Abir S. Al-Harrasi, Eyad B. Al-Zadjali, Zahran S. Al-Salti

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Entrepreneurship has captured the attention of policy-makers, educators and researchers in the last few decades. It has been regarded as a main driver for economic growth, development and employment generation in many countries worldwide. However, scholars have not agreed on the key factors that impact entrepreneurial intention.  This study attempts, through an extensive literature review, to provide a holistic view and a more comprehensive understanding of the key factors that lead university undergraduate students to become entrepreneurs. A systematic literature review is conducted and several scientific articles and reports have been examined. The results of this study indicate that there are four main sets of factors: the personality-traits factors, contextual factors, motivational factors, and personal background factors. This research will serve as a base for future studies and will have valuable implications for policy makers and educators.

Keywords: Entrepreneurship, Entrepreneurial Intention.

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Authors: Favour Makuochukwu Orji, Yingkui Zhao

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A myriad of environmental issues face the Nigerian industrial region, resulting from; oil and gas production, mining, manufacturing and domestic wastes. Amidst these, much effort has been directed by stakeholders in the Nigerian oil producing regions, because of the impacts of the region on the wider Nigerian economy. Although collaborative environmental management has been noted as an effective approach in managing environmental issues, little attention has been given to the roles and practices of stakeholders in effecting a collaborative environmental management framework for the Nigerian oil-producing region. This paper produces a framework to expand and deepen knowledge relating to stakeholders aspects of collaborative roles in managing environmental issues in the Nigeria oil-producing region. The knowledge is derived from analysis of stakeholders’ practices – studied through multiple case studies using document analysis. Selected documents of key stakeholders – Nigerian government agencies, multi-national oil companies and host communities, were analyzed. Open and selective coding was employed manually during document analysis of data collected from the offices and websites of the stakeholders. The findings showed that the stakeholders have a range of roles, practices, interests, drivers and barriers regarding their collaborative roles in managing environmental issues. While they have interests for efficient resource use, compliance to standards, sharing of responsibilities, generating of new solutions, and shared objectives; there is evidence of major barriers and these include resource allocation, disjointed policy, ineffective monitoring, diverse socio- economic interests, lack of stakeholders’ commitment and limited knowledge sharing. However, host communities hold deep concerns over the collaborative roles of stakeholders for economic interests, particularly, where government agencies and multi-national oil companies are involved. With these barriers and concerns, a genuine stakeholders’ collaboration is found to be limited, and as a result, optimal environmental management practices and policies have not been successfully implemented in the Nigeria oil-producing region. A framework is produced that describes practices that characterize collaborative environmental management might be employed to satisfy the stakeholders’ interests. The framework recommends critical factors, based on the findings, which may guide a collaborative environmental management in the oil producing regions. The recommendations are designed to re-define the practices of stakeholders in managing environmental issues in the oil producing regions, not as something wholly new, but as an approach essential for implementing a sustainable environmental policy. This research outcome may clarify areas for future research as well as to contribute to industry guidance in the area of collaborative environmental management.

Keywords: Collaborative environmental management framework, document analysis, case studies, multinational oil companies, Nigerian oil-producing region, stakeholders analysis.

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Authors: Ashraf Khalil, Salam Abdallah, Khalil Al-hilo, Ebere Iroadu

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Financial literacy is one of the key factors needed in making informed financial decisions. As businesses continue to be more profit driven, more financial and economic intrigues arise that continue to put individuals at the risk of spending more and more without considering the short term and long term effects. We conducted a study to assess financial literacy and financial decision making among Emiratis. Our results show that financial literacy is lacking among Emiratis. Also, almost half of respondents owe loans to other peoples and 1/5 of them have bank loans. We expect that the outcome of this research will be useful for designing educational programs and policies to promote financial planning and security among Emiratis. We also posit that deeper and more informed understanding of this problem is a precursor for developing effective financial education programs with the aim of improving financial decision- making among Emiratis.

Keywords: Financial literacy, loans, financial planning, Emiratis.

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Authors: B.W. Field

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For a variety of safety and economic reasons, engineering undergraduates in Australia have experienced diminishing access to the real hardware that is typically the embodiment of their theoretical studies. This trend will delay the development of practical competence, decrease the ability to model and design, and suppress motivation. The author has attempted to address this concern by creating a software tool that contains both photographic images of real machinery, and sets of graphical modeling 'tools'. Academics from a range of disciplines can use the software to set tutorial tasks, and incorporate feedback comments for a range of student responses. An evaluation of the software demonstrated that students who had solved modeling problems with the aid of the electronic tutor performed significantly better in formal examinations with similar problems. The 2-D graphical diagnostic routines in the Tutor have the potential to be used in a wider range of problem-solving tasks.

Keywords: CAL, graphics, modeling, structural distillation, tutoring.

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Authors: Vujica Lazovic, Tamara Djurickovic

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Creation of information society, or in other words, a society based on knowledge, has wide consequences, both on individual and complete society, and in general – on a economy of one country. Development and implementation of ICT represents a stimulant for economic growth. On individual level, knowledge, skills and information gathered using ICT, are expanding individual possibilities of persons, enabling them to have access to timely sensitive information, such as market prices or investment conditions, possibilities to access Government-s or private development funds, etc. By doing so, productivity is increased both on individual and national level and therefore social wellbeing in general. In one word, creation of information society - a knowledge society is happening. This work will describe challenges and strategies that will follow the development as well as obstacles in creating information society – knowledge society in Montenegro.

Keywords: eDevelopment, eTransformation, informationsociety, knowledge economy

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Authors: Ali Abdi Kordani, Hamid Bigdelirad, Sid Mohammad Boroomandrad

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Operating Urban Bus Transit System is a phenomenon that has a major role in transporting passengers in cities. There are many factors involved in planning and operating an Urban Bus Transit System, one of which is selecting optimized number of stops and scheduling of bus fleet departure. In this paper, we tried to introduce desirable methodology to select number of stops and schedule properly. Selecting the right number of stops causes convenience in accessibility and reduction in travel time and finally increase in public preference of this transportation mode. The achieved results revealed that number of stops must reduce from 33 to 25. Also according to scheduling and conducted economic analysis, the number of buses must decrease from 17 to 11 to have the most appropriate status for the Bus Organization.

Keywords: Number of optimized stops, organizing bus system, scheduling, urban transit.

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Authors: Fu E. Tang, Chung W. Tong

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“Garbage enzyme", a fermentation product of kitchen waste, water and brown sugar, is claimed in the media as a multipurpose solution for household and agricultural uses. This study assesses the effects of dilutions (5% to 75%) of garbage enzyme in reducing pollutants in domestic wastewater. The pH of the garbage enzyme was found to be 3.5, BOD concentration about 150 mg/L. Test results showed that the garbage enzyme raised the wastewater-s BOD in proportion to its dilution due to its high organic content. For mixtures with more than 10% garbage enzyme, its pH remained acidic after the 5-day digestion period. However, it seems that ammonia nitrogen and phosphorus could be removed by the addition of the garbage enzyme. The most economic solution for removal of ammonia nitrogen and phosphorus was found to be 9%. Further tests are required to understand the removal mechanisms of the ammonia nitrogen and phosphorus.

Keywords: Wastewater treatment, garbage enzyme, wastewater additives, ammonia nitrogen, phosphorus.

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Authors: Teboho J. Mosikari, Johannes T. Tsoku, Diteboho L. Xaba

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The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.

Keywords: Feldstein and Horioka puzzle, saving and investment, panel models, BRICS countries.

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Authors: B. Singh, A. Singh, R. C. Yadav

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Utmost care of human related issues are essentially required for sustainable growth of micro, small and medium enterprises (MSMEs) of India, as these MSMEs are contributing enormously to socio-economic development of country. In this research, aspects related to human factors and functioning of MSMEs of India were studied. The investigation, based on a survey of 84 MSMEs of India cited that the enterprises are mostly employing unskilled labor whose wages are less with poor training. In spite of reported minor accidents, attention towards safety is poorly paid. To meet-out the production target, MSMEs generally employ over-time and payment towards this overtime is sometimes missing. Hence, honest and humanitarian attention for better human resources is needed to improve the performance and competitiveness of MSMEs of India.

Keywords: Human factors, Small and medium enterprises, Working culture.

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Authors: Liu-Chao Qiu

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The damage caused by surge waves generated in water bodies by flow-like landslides can be very high in terms of human lives and economic losses. The complicated phenomena occurred in this highly unsteady process are difficult to model because three interacting phases: air, water and sediment are involved. The problem therefore is challenging since the effects of non-Newtonian fluid describing the rheology of the flow-like landslides, multi-phase flow and free surface have to be included in the simulation. In this work, the commercial computational fluid dynamics (CFD) package FLUENT is used to model the surge waves due to flow-like landslides. The comparison between the numerical results and experimental data reported in the literature confirms the accuracy of the method.

Keywords: Flow-like landslide, surge wave, VOF, non-Newtonian fluids, multi-phase flows, free surface flow.

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Authors: Marina Velikova, Hennie Daniels, Ad Feelders

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In many applications, it is a priori known that the target function should satisfy certain constraints imposed by, for example, economic theory or a human-decision maker. Here we consider partially monotone problems, where the target variable depends monotonically on some of the predictor variables but not all. We propose an approach to build partially monotone models based on the convolution of monotone neural networks and kernel functions. The results from simulations and a real case study on house pricing show that our approach has significantly better performance than partially monotone linear models. Furthermore, the incorporation of partial monotonicity constraints not only leads to models that are in accordance with the decision maker's expertise, but also reduces considerably the model variance in comparison to standard neural networks with weight decay.

Keywords: Mixture models, monotone neural networks, partially monotone models, partially monotone problems.

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Authors: Shanshan Qi, Rob Law, Dimitrios Buhalis

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The fast technology and economic growth in China has attracted global attention in its tourism development. This study makes an effort on investigating China-s online tourism market and the Chinese online travelers- perceptions of hotel websites. The findings are expected to better understand Chinese customers- online preference and identified the differences among online travelers from different regions in the country. Empirical findings showed online reservation information is the most important factor to Chinese customers, and tourists from different regions of China have perception difference on user-friendly factor. The findings benefit hoteliers from understanding their websites development and formulating more appropriate online strategies to meet the requirements of Chinese travelers.

Keywords: Chinese online travelers, Hotel websites, Regions of China, Website usefulness

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Authors: Muthatakul Metasit, Setthasakko Watchaneeporn

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At present, increased concerns about global environmental problems have magnified the importance of sustainability management. To move towards sustainability, companies need to look at everything from a holistic perspective in order to understand the interconnections between economic growth and environmental and social sustainability. This paper aims to gain an understanding of key determinants that drive sustainability management and barriers that hinder its development. It employs semi-structured interviews with key informants, site observation and documentation. The informants are production, marketing and environmental managers of the leading wine producer, which aims to become an Asia-s leader in wine & wine based products. It is found that corporate image and top management leadership are the primary factors influencing the adoption of sustainability management. Lack of environmental knowledge and inefficient communication are identified as barriers.

Keywords: Environmental, knowledge; Sustainability management; Top management leadership; Wine industry

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Authors: Nasser AlShawaaf, Soo Hee Lee

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Arts globalisation represents a different phenomenon than arts commercialisation which was facilitated by local cultural policies. This study examines the causes and effects of globalisation of art museums in France. Building on art literature, we conducted a literature review of cultural policies. Our findings show that the cultural policies of the French government since the 1980s of cultural democratisation, cultural decentralisation, and implementing market principles on the cultural sector are leading to arts globalisation. Although globalisation is producing economic benefits and enhancing cultural reach, however, the damages include artistic values and creativity, cultural heritage and representation, and the museum itself. Art museums and host cities could overcome negative consequences through a hybrid collection display and develop local collections gradually.

Keywords: Cultural policy, cultural decentralisation, cultural globalisation, art museums, contextual analysis, France.

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Authors: Chun-guang Pan, Ying-wu Chen

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Risk response planning is of importance for software project risk management (SPRM). In CMMI, risk management was in the third capability maturity level, which provides a framework for software project risk identification, assessment, risk planning, risk control. However, the CMMI-based SPRM currently lacks quantitative supporting tools, especially during the process of implementing software project risk planning. In this paper, an economic optimization model for selecting risk reduction actions in the phase of software project risk response planning is presented. Furthermore, an example taken from a Chinese software industry is illustrated to verify the application of this method. The research provides a risk decision method for project risk managers that can be used in the implementation of CMMI-based SPRM.

Keywords: Software project, risk management, CMMI, riskresponse planning.

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Authors: Hyun-Kyu Kang

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The Korean Government has applied the preliminary feasibility study to new government R&D program plans as a part of an evaluation system for R&D programs. The preliminary feasibility study for the R&D program is composed of 3 major criteria such as technological, policy and economic analysis. The program logic model approach is used as a part of the technological analysis in the preliminary feasibility study. We has developed and improved the R&D program logic model. The logic model is a very useful tool for evaluating R&D program plans. Using a logic model, we can generally identify important factors of the R&D program plan, analyze its logic flow and find the disconnection or jump in the logic flow among components of the logic model.

Keywords: Preliminary feasibility study, R&D program logic model, technological analysis.

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Authors: O. Babalola Oladapo, A. Igbatayo Samuel

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Climate change and poverty are global issues which cannot be waved aside in welfare of the ever increasing population. The causes / consequences are far more elaborate in developing countries, including Nigeria, which poses threats to the existence of man and his environment. The dominant role of agriculture makes it obvious that even minor climate deteriorations can cause devastating socio-economic consequences. Policies to curb the climate change by reducing the consumption of fossil fuels like oil, gas or carbon compounds have significant economical impacts on the producers/suppliers of these fuels. Thus a unified political narrative that advances both agendas is needed, because their components of an environmental coin that needs to be addressed. The developed world should maintain a low-carbon growth & real commitment of 0.7% of gross national income, as aid to developing countries & renewable energy approach should be emphasized, hence global poverty combated.

Keywords: Climate Change, Greenhouse gases, Nigeria, Poverty.

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Authors: J. E. Ortiz, P. Plaza, J. Herrero, I. Cabria, J. L. Blanco, J. Gavilanes, J. I. Escavy, I. López-Cilla, V. Yagüe, C. Pérez, S. Rodríguez, J. Rico, C. Serrano, J. Bernat

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The development of Artificial Intelligence services in mining processes, specifically in aggregate quarries, is facilitating automation and improving numerous aspects of operations. Ultimately, AI is transforming the mining industry by improving efficiency, safety and sustainability. With the ability to analyze large amounts of data and make autonomous decisions, AI offers great opportunities to optimize mining operations and maximize the economic and social benefits of this vital industry. Within the framework of the European DIGIECOQUARRY project, various services were developed for the identification of material quality, production estimation, detection of anomalies and prediction of consumption and production automatically with good results.

Keywords: Aggregates, artificial intelligence, automatization, mining operations.

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Authors: G. L. C. Yap

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Modelling realized volatility with high-frequency returns is popular as it is an unbiased and efficient estimator of return volatility. A computationally simple model is fitting the logarithms of the realized volatilities with a fractionally integrated long-memory Gaussian process. The Gaussianity assumption simplifies the parameter estimation using the Whittle approximation. Nonetheless, this assumption may not be met in the finite samples and there may be a need to normalize the financial series. Based on the empirical indices S&P500 and DAX, this paper examines the performance of the linear volatility model pre-treated with normalization compared to its existing counterpart. The empirical results show that by including normalization as a pre-treatment procedure, the forecast performance outperforms the existing model in terms of statistical and economic evaluations.

Keywords: Long-memory, Gaussian process, Whittle estimator, normalization, volatility, value-at-risk.

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Authors: F. S. Abtahi, M. Koohi Hbibi, M. Khodaei Motlagh

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Bean common mosaic necrosis virus (BCMNV) is a potyvirus with a worldwide distribution. This virus causes serious economic losses in Iran in many leguminoses. During 20008, samples were collected from soybeans fields in Tehran Province. Four isolates (S1, S2 and S3) were inoculated on 15 species of Cucurbitaceae, Chenopodiaceae, Solanacae and Leguminosae. Chenopodium quinoa and C. amaranticolor. Did not developed any symptoms.all isolates caused mosaic symptoms on Phaseolus vulgaris cv. Red Kidney and P. vulgaris cv. Bountiful. The molecular weights of coat protein using SDS-PAGE and western blotting were estimated at 33 kDa. Reverse transcription polymerase chain reaction (RT-PCR) was performed using one primer pairs designed by L. XU et al. An approximately 920 bp fragment was amplified with a specific primer.

Keywords: ELISA, RT-PCR, SDS-PAGE, BCMNV.

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Authors: Xuanyu Bai

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“The Communist Manifesto”, written by Karl Marx and Friedrich Engels, is one of the most significant documents throughout the whole history which covers across different fields including Economic, Politic, Sociology and Philosophy. Instead of discussing the Communist ideas presented in the Communist Manifesto, the essay focuses on exploring the reasons that contributed to the popularization of the document and its influence on political revolutions in 19^th century Europe by concentrating on the document itself along with other primary and secondary sources and temporal artwork. Combining the details from the Communist Manifesto and other documents, Marx’s writing style and word choice, his convincible notions about a new society dominated by proletariats, and the revolutionary idea of class destruction has led to the popularization of the Communist Manifesto and influenced the latter political revolutions.

Keywords: Communist Manifesto, The Wealth of Nations, 19th century Europe, word choice, capitalism, communism.

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Authors: Nihan Cinar

Abstract:

Location selection is one of the most important decision making process which requires to consider several criteria based on the mission and the strategy. This study-s object is to provide a decision support model in order to help the bank selecting the most appropriate location for a bank-s branch considering a case study in Turkey. The object of the bank is to select the most appropriate city for opening a branch among six alternatives in the South-Eastern of Turkey. The model in this study was consisted of five main criteria which are Demographic, Socio-Economic, Sectoral Employment, Banking and Trade Potential and twenty one subcriteria which represent the bank-s mission and strategy. Because of the multi-criteria structure of the problem and the fuzziness in the comparisons of the criteria, fuzzy AHP is used and for the ranking of the alternatives, TOPSIS method is used.

Keywords: MCDM, bank branch location, fuzzy AHP, TOPSIS.

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Authors: Kyria Rebeca Finardi

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The study discusses the role of foreign languages in general and of English in particular in the process of internationalization of higher education (IHE), defined as the intentional integration of an international, intercultural or global dimension in the purpose, function or offer of higher education. The study is bibliographical and offers a brief outline of the current political, economic and educational scenarios in Brazil, before discussing some possibilities and challenges for the development of multilingualism and IHE there. The theoretical background includes a review of Brazilian language and internationalization policies. The review and discussion concludes that the use of the Content and Language Integrated Learning (CLIL) approach and the Intercomprehension approach to foreign language teaching/learning are relevant alternatives to foster multilingualism in that context.

Keywords: Brazil, higher education, internationalization, multilingualism.

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Authors: Wissam B. Fahed

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Entrepreneurship has become an important and extensively researched concept in business studies. Research on foreign direct investment (FDI) has become widespread due to the growth of FDI and its importance in globalization. Most entrepreneurship studies examined the importance and influence of entrepreneurial orientation in a micro-level context. On the other hand, studies and research concerning FDI used statistical techniques to analyze the effect, determinants, and motives of FDI on a macroeconomic level, ignoring empirical studies on other noneconomic determinants. In order to bridge the gap between the theory and empirical evidence on FDI and the theory and research on entrepreneurship, this study examines the impact of entrepreneurship on inward foreign direct investment. The relationship between entrepreneurship and foreign direct investment is investigated through regression analysis of pooled time-series and cross-sectional data. The results suggest that entrepreneurship has a significant effect on FDI.

Keywords: Entrepreneurship, foreign direct investment, globalization, economic freedom.

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Authors: Ahmet Diken, Meral Erdirençelebi

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Similar to economies in many countries; family-owned enterprises have a significant role in the development of Turkish economy. Although they have a large share in economic terms, their lifetime is limited to working life of their founders. Failure in achieving their sustainability deeply affects not only these businesses but also the economy. Therefore, two basic elements of family owned enterprises, family and organizational culture and especially entrepreneurship culture, should be examined closely. The degree of effectiveness of parents in instilling their children with entrepreneurship culture and their effects on children's profession choices are examined through face-to-face surveys with the managers owning family businesses randomly chosen among family-owned enterprises registered in Konya Chamber of Industry, which are active in specific sectors and which had different generations in their management.

Keywords: Family-owned enterprises, entrepreneurship, entrepreneurship culture.

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Authors: A. V. Dolzhikova

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The article deals with the problems of labour migration in the Russian Federation in the context of Russia's national security, provides the typology of migrants residing in the territory of the Russian Federation and analyzes the risk factors. The author considers the structure of migration flows and the terms of legal, economic and socio-cultural adaptation of migrants in the Russian Federation. In this connection, the status of the Russian migration legislation, the concept of the comprehensive exam in Russian as a foreign language, history of Russia and the basics of the Russian Federation legislation for foreign citizens which was introduced in Russia on January 1, 2015, are analyzed. The article discloses its role as the adaptation strategy and the factor of Russia's migration security.

Keywords: Comprehensive exam, migration policy, migration legislation, Russia's national security.

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Authors: Andra Costache, Rădiţa Alexe

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The analysis of the spatial disparities of social marginalization is a requirement in the present-day socio-economic and political context of Romania, an East-European state, member of the European Union since 2007, at present faced with the imperatives of the growth of its territorial cohesion. The main objective of this article is to develop a methodology for the assessment of social marginalization, in order to understand the intensity of the marginalization phenomenon at different spatial scales. The article proposes a social marginalization index (SMI), calculated through the integration of ten indicators relevant for the two components of social marginalization: the material component and the symbolical component. The results highlighted a strong connection between the total degree of social marginalization and the dependence on social benefits, unemployment rate, non-inclusion in the compulsory education, criminality rate, and the type of pension insurance.

Keywords: Romania, social marginalization index, territorial disparities.

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Authors: Anqi Wang, Linye Zhang

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With the proliferation and development of mobile devices, various mobile apps have appeared to satisfy people’s needs. Metro, with the feature of convenient, punctuality and economic, is one of the most popular modes of transportation in cities. Yet, there are still some inconveniences brought by various factors, impacting tourists’ riding experience. The aim of this study is to help tourists to shorten the time of purchasing tickets, to provide them clear metro information and direct navigation, detailed schedule as well as a way to collect metro cards as souvenir. The study collects data through three phases, including observation, survey and test. Data collected from 106 tourists totally in Wuhan metro stations are discussed in the study. The result reflects tourists’ demand when they take the metro. It also indicates the feasibility of using mobile technology to improve passenger’s experience.

Keywords: Mobile App, metro, public transportation, ticket, mobile payment, indoors positioning, tourists.

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